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CARNEGIE CORPORATION OF NEW YORK ELECTS THREE NEW TRUSTEES

Joining the Board are a Former International Public Servant, a University President and a Media Executive

New York, NY—October 20, 2004. Following their election, three leaders in international finance, education and journalism will join the board of Carnegie Corporation of New York on December 2, 2004. Pedro Aspe, the former Secretary of the Treasury of Mexico and currently CEO of Protego, a Mexican investment banking advisory firm; Richard H. Brodhead, the newly appointed president of Duke University; and Janet L. Robinson, who will assume the titles of president and chief executive officer of The New York Times Company later this year, have all agreed to serve a four-year term and join the 13 civic and business leaders on the board of trustees.

“For almost 100 years the Corporation has had a history of attracting leaders of great accomplishment, breadth and stature and these three new members underline that tradition,” said Vartan Gregorian, president of Carnegie Corporation of New York, in announcing the new members of the board. “When Andrew Carnegie wrote the charter for the institution, he mandated that the Corporation continue his work in perpetuity. In his wisdom, Mr. Carnegie also said that ‘no wise man will bind Trustees forever to certain paths, causes or institutions’ and that the future trustees would have full authority to change policy ‘from time to time.’ That is why it gives me such pleasure to announce the election of three such diverse leaders who bring their perspectives, culture and different experiences to our deliberations.”

“Mexico possesses a different philanthropic tradition than that which was begun by Mr. Carnegie, and I look forward to seeing firsthand how the Corporation is a force for good in society,” said Pedro Aspe. “I have worked with Vartan Gregorian before and I know he will challenge me at every juncture to think about the international dimensions of the Corporation’s work, and how Mr. Carnegie’s mandate to advance knowledge and education in the world can be articulated in the 21st century.”

“In the world of education, there is no more important institution than Carnegie Corporation of New York,” said Richard H. Brodhead. “The Corporation has been a leader in teaching, standards, educational research and practice for almost one hundred years and has stature and respect, not only in the world of higher education where I’ve spent my life, but in all areas of education policy. I look forward to being part of the future and helping to shape the ideas that will dominate the next decade of education research and practice.”

“I look forward to serving with this distinguished board, particularly as the Corporation launches an initiative on journalism,” said Janet L. Robinson. “From my perspective, journalism is the profession that integrates all the issues in the Corporation’s grantmaking portfolio: education, international development, peace and security, and U.S. democracy. It will be a privilege to work with the trustees and staff on such critical matters.”

“The strength of the Corporation’s board of trustees, throughout its history, has been the mix of intelligence, leadership and knowledge that its board has brought to deliberations about philanthropy and its promise,” said Helene Kaplan, chair of the board and the first trustee to serve twice in this position. “I think these three new members of the board speak volumes about the range of expertise that we have always relied on for guidance.”

Dr. Pedro Aspe is CEO of Protego, a leading investment banking advisory firm in Mexico that since 1996 has advised more than 90 transactions, including private equity placements, mergers and acquisitions, project financing and municipal bonds. Before his work with Protego, Aspe served in the Mexican government in a number of capacities, including Secretary of the Treasury from 1988 through 1994. A professor, Aspe taught Economics at the Instituto Tecnologico Autonomo de Mexico (ITAM). He continues to work closely with academic institutions, including both Stanford University and the Massachusetts Institute of Technology in the United States, as a member of the Advisory Board at Stanford’s Institute of International Studies, and as a member of the Visiting Committee of the Department of Economics at MIT. Aspe serves as a director of a number of public companies including Televisa, Xignux and the McGraw Hill Companies. He is on the Advisory Board of Marvin & Palmer and AIG, and Chairman of the Advisory Boards of MG Capital and Endeavor.

Richard H. Brodhead is the ninth president of Duke University. He joined the university after a 32-year career at Yale University where he was dean of Yale College for eleven years. Brodhead graduated from Yale in 1968 and received his Ph.D. from Yale, as well, in 1972. He is an expert in 19th century American literature and chaired Yale’s Department of English for six years. A respected author of more than a dozen books, Brodhead earned great distinction as a professor including being awarded the DeVane Medal at Yale for outstanding teaching. In 1995 he was named the A. Bartlett Giamatti Professor of English and American Studies. As dean of Yale College, Brodhead had oversight of undergraduate education, the faculty appointment process, and policy issues including admissions, financial aid and student life. He is a fellow of the American Academy of Arts and Sciences, has won several scholarly honors including Guggenheim, Woodrow Wilson, Danforth and Morse fellowships. He has been a member of the J. William Fulbright Foreign Scholarship Board since 2002.

Janet L. Robinson is currently chief operating officer and executive vice president of The New York Times Company, which she joined in 1983. In this position, Robinson oversees the business operations of all the Company’s properties. Over the past decade, Ms. Robinson led the integration of the Company’s newspaper properties, developed and implemented a landmark national expansion plan, extended the Company’s global reach and instituted a comprehensive multi-platform strategy.

In 2004, she was elected Chair, The Advertising Council, after having served as a board member since 1997. Beginning in 2001, she has been named each year to Fortune magazine’s annual survey of the 50 Most Powerful Women in Business. She was recognized in the September 1999 issue of Crain’s New York Business as one of the 100 Most Influential Women in Business. She has also received New York University’s 1999 Prism Award for outstanding leadership in the graphic arts industry. In 1998, she was inducted into the YWCA’s Academy of Women Achievers, which celebrates the accomplishments of the nation’s most outstanding professional women. Robinson received a B.A. degree in English from Salve Regina College, Newport, R.I., and was a public school teacher for eleven years before joining The New York Times Company. She is active in community affairs and serves on a number of professional boards. She was presented with an honorary doctorate from her alma mater in 1998.

Carnegie Corporation of New York was created by Andrew Carnegie in 1911 to promote “the advancement and diffusion of knowledge and understanding.” As a grantmaking foundation, the Corporation seeks to carry out Carnegie’s vision of philanthropy, which he said should aim “to do real and permanent good in the world.” The Corporation’s capital fund, originally donated at a value of about $135 million, had a market value of $1.8 billon on September 30, 2003. The Corporation awards grants totaling approximately $80 million a year in the areas of education, international peace and security, international development and strengthening U.S. democracy.