Anne L. Armstrong, Kingsville, Tex., chairman of the President's Foreign Intelligence Advisory Board. Serves on the boards of American Express Co., Boise Cascade Corp., General Motors Corp. and Halliburton Co.

Jewel Plummer Cobb, Fullerton, Calif., president, California State University at Fullerton. Serves on boards of Allied-Signal Inc., CPC International, First Interstate Bancorp and The Travelers Corp.

Barbara Hackman Franklin, District of Columbia, president and chief executive, Franklin Associates Inc. Serves on boards of Aetna LIfe & Casualty, Automatic Data Processing, Black and Decker, Dow Chemical, Nordstrom Inc. and Westinghouse Electric.

Carla A. Hills, District of Columbia, partner, Weil, Gotshal & Manges. Serves on the boards of American Airlines, Chevron Corp., Corning Glass Works, Federal National Mortgage Association, The Henley Group and IBM Corp.

Marta Casals Istomin, District of Columbia, artistic director, John F. Kennedy Center for the Performing Arts. Serves on the board of Harcourt Brace Jovanovich Inc.

Juanita Kreps, Durham, N.C., vice president emeritus, professor of economics, Duke University. Serves on the boards of Allegis Corp., AT&T Co., Armco Inc., Chrysler Corp., Citicorp/Citibank Inc., Deere & Co. Eastman Kodak Co., J.C. Penney Co. Inc., RJR Nabisco Inc. and Zurn Industries Inc.

Jewel Lafontant, Chicago, senior partner, Vedder, Price, Kaufman & Kammholz. Serves on the boards of Ariel Capital Management Inc., The Equitable Financial Cos., Mobil Corp., Revlon Group, Revlon Inc. and TBG Broadcasting Inc.

Margaret N. Maxey, Austin, Tex., director, C.W. Murchison Sr. Chair of Free Enterprise and professor, Biomedical Engineering Program, University of Texas. Serves on the board of Texas Utilities.

Nancy Clark Reynolds, District of Columbia, partner, Wexler, Reynolds, Harrison & Schule Inc. Serves on the board of Sears, Roebuck and Co. and The Wackenhut Corp.

Marina Von Neumann Whitman, Detroit, vice president and group executive in charge of the public affairs staffs group, General Motors Corp. Serves on the boards of Manufacturers Hanover Trust Co. and the Procter & Gamble Co.

Felice N. Schwartz, New York, founder and president of Catalyst (Award for Excellence in Leadership).