Three Toronto Business Schools To Receive $3.75 Million Through Toronto Community Foundation
Gifts From Newcourt To Benefit Next Generation Of Business Professionals

TORONTO, November 11, 1998 -- The Toronto Community Foundation today announced York University, University of Toronto and Ryerson Polytechnic University will receive a total of $3.75 million in endowment funding for business education. Newcourt Credit Group is making the donation through the Toronto Community Foundation.

"The Newcourt gift is a perfect example of the philanthropic service that we provide to corporations and individuals," said Carol Oliver, President and CEO of the Toronto Community Foundation. "Our purpose is to make corporate charitable endowment giving more efficient and hassle-free. We can work with corporations to develop strategies to ensure their gifts are used for purposes that are consistent with the company's objectives."

The Toronto Community Foundation is a full-service organization that enables donors to create philanthropic legacies for specific purposes within the Toronto community by combining grant-making expertise with professional fund management. The Foundation offers distinct tax advantages over traditional family foundations for individuals, and custom philanthropic services to meet the needs of all its donors.

"The Toronto Community Foundation was instrumental in helping us create a donation strategy that will help cultivate the next generation of business professionals in Canada," said Steve Hudson, Newcourt Chief Executive Officer. "Newcourt is a global finance company with firmly established roots in Canada, and we want to ensure that business education in Toronto and in Canada remains amongst the very best in the world."

York University

In the early 1990s, York University's Schulich School of Business consulted executives from leading industry organizations in developing Canada's only integrated MBA specialization in financial services. Schulich intends to use Newcourt's $2 million gift to strengthen its commitment to innovative teaching and cutting-edge research related to the financial services sector.

"The Schulich School of Business at York University and Newcourt Credit Group share the belief that Canada's ability to compete globally will depend increasingly on high quality management education programs," said Schulich Dean Dezs– Horvath. "We welcome the opportunity to join with Newcourt in setting a new standard for management education, and offer very special thanks to the founder and CEO of Newcourt, Steve Hudson, a 1981 Schulich BBA graduate."

University of Toronto

Newcourt's gift of $1.5 million to the University of Toronto will establish and endow a chair in Structured Finance at the Joseph L. Rotman School of Management. This new chair will make a significant contribution to the training of MBA students studying leasing and other principles of structured finance for work in the financial services industry. It will also strengthen the Rotman School's leading research program in corporate finance. The chair will be named the Newcourt Chair in Structured Finance, pending approval by U of T's governing council. The university will match Newcourt's gift to create a $3-million endowment fund to establish the chair in perpetuity.

"Newcourt's generous gift moves the Rotman School of Management closer to achieving our vision," says Roger Martin, dean of the Joseph L. Rotman School of Management. "Newcourt's leadership demonstrates a significant commitment to business education in Canada, strengthening our country's competitive advantage by providing the very best to the next generation of Canadian business leaders."

Ryerson Polytechnic University

Ryerson Polytechnic University will receive a $250,000 endowment to permanently fund the Newcourt Ryerson Business Forum. This academic initiative focuses on current business issues and is planned and hosted entirely by students, bringing them in contact with business leaders who share their personal perspectives, knowledge, and experiences. The students use these real-life examples to enhance their classroom learning. The annual conference attracts 400 to 500 business executives, students, faculty and media.

For the past three years the Forum has had an international dimension through a videoconference link with Sheffield Hallam University in the U.K. Information is disseminated globally through live broadcasts on Ryerson's Internet radio site. The technologies enable dialogue between guest speakers and participants around the world.

"The Forum provides an invaluable vehicle for students to interact with business leaders. It gives students practical insights beyond the classroom," said Stan Heath, Dean, Ryerson Faculty of Business. "Newcourt's gift ensures that the Business Forum will remain an important part of the learning experience for Ryerson business students."

Founded in 1981, the Toronto Community Foundation, through charitable endowments, has been responding to the issues of greatest importance to the people of The City of Toronto. The Toronto Community Foundation's mission is "To attract and effectively grow permanent funds, provide leadership in identifying and addressing significant community needs and help donors fulfill their philanthropic interests."

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For more information, contact:

Carol Oliver, President and CEO
The Toronto Community Foundation
(416) 204- 4082

Robyn Matsumoto
Newcourt
(416) 594-5308