USET Required to Rehold Annual Meeting

Gladstone, NJ-August 21, 2001-As a result of a ruling by the Superior Court of New Jersey stemming from a lawsuit filed by American Horse Shows Association (AHSA) President Alan F. Balch against the United States Equestrian Team (USET), the USET is being required to re-conduct its 2001 Annual Meeting.

In granting Mr. Balch's request for USET financial and other information, the court questioned Mr. Balch's motives, stating "As abhorrent as Mr. Balch's effort to secure documents from USET may be to that organization and in spite of the fact that his true motivation may be the advancement of interests of AHSA of which he is the president, New Jersey law is crystal clear respecting his absolute and unfettered right to have copies of the documents he has requested."

The Court also found, in response to Balch's complaint, that the newly adopted by-laws that appointed various ex officio trustees from other equestrian organizations (e.g. National Hunter-Jumper Council, National Disability Sports Alliance) were not in strict conformance with the Certificate of Incorporation and has required that those appointments be removed.

The Court did, however, make clear that "notwithstanding the foregoing, the suggestion that [Balch] pursued this course out of concern for the USET is without any merit. In point of fact, each of the parties has pursued the course it has chosen as a corollary to the dispute before the USOC. . . The Court finds that plaintiff's [Balch's] suggestion that he acted only out of a concern for USET to be meritless."

"The USET will comply fully and promptly with the ruling of the Superior Court of New Jersey," said USET Vice Chairman Armand Leone, Jr. "The USET had reservations about the type of individualized information that Mr. Balch was requesting, but in view of the Court's order, the USET will supply Mr. Balch with any and all information he seeks, even though the court has cited his personal motivation and lack of good faith. Ultimately, however, Mr. Balch's attempts to derail the challenge before the United States Olympic Committee (USOC) will fail and the USOC Hearing Panel will render a decision based on the merits and the best interests of equestrian sport."

The United States Equestrian Team is a non-profit organization that selects, trains, equips and finances equestrians of the highest possible standard to represent our country in major international competition, including the Olympic Games and the World Championships. To accomplish this the USET seeks out and nurtures the development of talented athletes - riders, drivers and horses - and provides the support and guidance they need to help them attain their fullest potential. For more information on the USET, please call (908) 234-1251, or visit USET ONLINE at www.uset.org