Former CIA Director William E. Colby will tell an audience that the Cold War is over when he addresses the Bath-Brunswick and Portland Rotary Clubs and members of the Greater Portland Area Chamber of Commerce and Industry on Friday, Sept. 21.

“The Peace Dividend and How We Adjust to It” will discuss savings in the military budget, national security policies and budget priorities that have favored military defense.

Colby will say that defense spending should be reduced. During the last 10 years, the military budget doubled and the domestic budget was cut 35 percent.

Citizen research coalitions in many Maine communities, sponsored by the Peace Economy Project, have gathered information to be released by Colby at the press conference. According to sponsors of the conference, priorities should be reduced military spending, environmental protection, renewal of the economy, and restoring American’s ability to compete in the world marketplace.