(Edited Fasig-Tipton press release)Arthur B. Hancock III, owner of Stone Farm near Paris, Ky., was elected to the Fasig-Tipton Company's board at a meeting of the directors Friday. The appointment is effective immediately."Arthur Hancock is a person of character and integrity," said Fasig-Tipton chairman D.G. Van Clief Jr. "He is a leader and friend to this industry, and is one of the most experienced and knowledgeable horsemen I know. We are delighted he will be joining our board."Hancock is a fourth generation horseman and has been involved in the Thoroughbred breeding and racing business all of his life. He has raised three Kentucky Derby winners (gr. I), Gato Del Sol, Sunday Silence (both of which he also raced), and Fusaichi Pegasus. He is a member of The Jockey Club and a former member of the Kentucky Racing Commission."I am honored to be a member of the Fasig-Tipton board of directors, consisting of some of the most respected and knowledgeable people in our industry," Hancock said. "When Stone Farm sold yearlings at Saratoga this summer, my son, Arthur, was the fifth generation of Hancocks to have done business with Fasig-Tipton."