COLUMBIA, S.C — Edens & Avant, one of the nation's largest private owners of retail centers, announced today that Chairman and CEO Joe Edens has been elected a Class B director of the Federal Reserve Bank of Richmond.

Edens was Elected to the position by the member banks of the Fifth Federal Reserve District. He will serve a three-year term beginning January 2002. The Federal Reserve Bank of Richmond serves the Fifth Federal Reserve District, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.

Edens has worked in commercial real estate for more than 35 years, beginning as an entrepreneurial developer in the mid-1960s. He has served with numerous business, professional, civic and charitable organizations and has been involved in other private and public sector initiatives for the City of Columbia and the State of South Carolina.

— Staff and wire reports