BARUCH ALUMNUS CREATES ELIAS SCHONBERGER 42 STUDENT LEADERSHIP AWARD TO MEMORIALIZE UNIFORMED SERVICES IN AFTERMATH OF WORLD TRADE CENTER ATTACK

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BARUCH COLLEGE, NEW YORK, NY Sixty years after receiving his BBA degree from Baruch College (when the College was still known as City College Downtown) Elias Schonberger has established an endowment at Baruch to encourage student leadership and to memorialize the heroism shown by New Yorks uniformed service personnel on September 11 at the World Trade Center.

The donation, for what formally will be called the Elias Schonberger 42 Student Leadership Award, creates an endowment that will provide two annual awards of $2,500 each to uniformed services personnel or their offspring who are in the final year of their degree programs and who have demonstrated consistent leadership skills while enrolled at Baruch.

The intention of the leadership awards, Mr. Schonberger said in making todays announcement, is to encourage student leadership while also perpetuating the memory of what the uniformed services did for all of us on September 11 and in the days and weeks that followed. This endowment is one way of making sure that these acts of heroism are remembered, and that the recognition of student leadership qualities will in time take its place alongside awards for academics, the arts, and sports.

Mr. Schonberger was co-founder and is retired chairman of Pace Advertising Agency in New York. While at Baruch studying business, he was active in student organizations and student government, where he served for most of his undergraduate years in a variety of positions, including as class president. His three adult sons, Mark, Stuart, and David, are trustees of the Schonberger Family Foundation, and participated in the decision to create The Elias Schonberger 42 Student Leadership Award.

David Gallagher, vice president for college advancement at Baruch, accepted the gift on behalf of the College and said, The students, faculty and staff of Baruch College are most grateful to Mr. Schonberger for his support, and we are especially pleased to be able to help in his goals of encouraging leadership and keeping alive at Baruch the memory of service that our uniformed personnel showed on September 11.

The first recipients of the Elias Schonberger 42 Student Leadership Awards will be named later in 2002.