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Richard Cook, Treasurer

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16 West Jones Street, Room 1028
Raleigh, NC 27601

Janet Cowell Newsletter July 15, 2007

Dear Friends,

As you likely already know, I announced last week that I am running for North Carolina State
Treasurer in 2008. I have appreciated your past support and hope I can count on your continued support as I undertake this new challenge. I have already spoken with many of you about this decision and am in the process of reaching out to more of you.

To facilitate conversation, I will be hosting a meet-n-greet on the occasion of my 39th birthday
this coming Thursday, July 19th from 5:30-7:00 pm at Humble Pie in Raleigh’s warehouse
district (317 S. Harrington St.). Light appetizers will be provided, and there will be a cash bar.
Come out and help me celebrate!

In the meantime, let me share some additional information with you about the Treasurer’s race.

Why I want to run for Treasurer:
My education and experience are well suited to the role of the State Treasurer. I earned an MBA from the Wharton School of Business of the University of Pennsylvania and worked with Lehman Brothers, in Hong Kong, and a venture capital firm, SJF Ventures, in Durham. I consider it an awesome responsibility to manage the “pocketbook” for the State of North Carolina, including the oversight of the State’s $74 billion pension plan. I aspire to perform the job with the highest of integrity.

About my decision-making process:
As many of you know, I thought about running for Treasurer at the beginning of the year and decided at that time not to run. Primary in my thinking was the fact that I had many goals that I wanted to accomplish in the 2007 session of the General Assembly and did not want to sacrifice them in order to focus on running for statewide office. Six months later, with the bulk of the session behind me and many of those goals on their way to being accomplished (including new energy efficiency standards for state government that should result in $150 million in savings over the next 10 years and funding for information technology investments that will provide better data on which to make management and financial decisions) I thought again about the Treasurer’s race. Many conversations and much reflection later, I feel excited and confident about the decision to run.

What happens to my Senate seat?
I will have to give up my Senate seat in order to run for Treasurer. I have no doubt that there will be many interested and qualified candidates for the seat. I am happy to talk with interested individuals and will work to ensure a smooth transition in representation for Wake County in the NC General Assembly.

What happens next?
I will finish out my term in the General Assembly in 2008. There are still a number of important bills and tasks to complete before the end of the long session. I will also be putting together a campaign team and building relationships across the state. I will have a treasurer’s campaign website online in the coming weeks that will serve as a focal point for information and connections.

I hope you will be able to join me at Humble Pie in Raleigh this coming Thursday evening, July
19 to help me celebrate my birthday. If not, you can contact me, as always, with your thoughts
and ideas at janetcowell@hotmail.com, 919-858-5337 (h) or via my current website,
www.janetcowell.com

Let me take this opportunity to thank you for past support and ask for your support again in the future.

Sincerely,

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