January 15, 2003

Los Angeles — The Corporate Director Training and Certification Program at The Anderson School at UCLA has recently become accredited by the Institutional Shareholder Services (ISS), the leading provider of proxy voting and corporate governance services. As a result, program participants can now increase their company's governance profile.

The Corporate Directors Training and Certification program, part of The Anderson School's Harold Price Center for Entrepreneurial Studies, recently completed its fifth annual conference. The program includes a two-day intensive director-level education event that rapidly educates directors and officers on SEC regulations, FASB considerations, Exchange rules and the current best practices in governance. Training session topics include: Building and Leveraging an Effective Board of Directors, SEC Considerations for Directors; What is it Like to be Sued as a Director, Sarbanes-Oxley: Does it Matter and Audit Committees: Implementing New Rules.

"Given the recent Sarbones-Oxley Act, being a corporate director has become even more challenging," said Duke Bristow, financial economist in the Harold Price Center for Entrepreneurial Studies and director of the training program. "Our certification program helps prepare directors to face the new regulatory, legal and economic issues facing today's boards."

To best evaluate a company's governance structure, ISS has developed an innovative measure called a Corporate Governance Quotient (CGQ™) to assist institutional investors in evaluating the quality of corporate boards and the impact their governance practices may have on performance. Participating in directors education programs, like The Anderson School's program, can positively affect on a company's CGQ.

The Directors Program at the Anderson School was developed for directors and executive officers of established and newly public companies who are dealing with the current corporate governance environment. The program is also targeted for venture partners and corporate officers who work closely with their boards.

The conference has featured keynote speakers including: S. Brian Wilson, vice president, Strategic Analysis Group, The Nasdaq Stock Market; James Peters, CPA, partner, Ernst & Young, LLP; Robert Bretagna, managing director, Lehman Brothers, Inc; Brian Cartwright, Esq., partner, Latham & Watkins; and Howard M. Privette, Esq., partner, Brobeck, Phleger & Harrison, LLP

For more information on the Corporate Directors Training & Certification Program, please visit www.directors.org.

About the Institutional Shareholder Services

Institutional Shareholder Services is the world's leading provider of proxy voting and corporate governance services. Located in Rockville, Maryland, ISS provides proxy research, voting recommendations and corporate governance advisory services to financial institutions worldwide. Founded in 1985, ISS has satellite offices in New York, Chicago, London, Toronto, Manila, and Tokyo. For more information, visit www.issproxy.com.

About The Anderson School at UCLA

The Anderson School at UCLA is perennially ranked among the top-tier business schools in the world. Award winning faculty renowned for their research and teaching, highly selective students, successful alumni and world-class facilities combine to provide an extraordinary learning opportunity. Established in 1935, The Anderson School provides management education to more than 1,300 students enrolled in full-time, part-time and executive MBA programs and academic master's and Ph.D. programs. In addition, there are approximately 500 undergraduate students enrolled in Anderson's Undergraduate Accounting Minor Program.

The Anderson School's faculty includes outstanding educators and researchers who share their scholarship and expertise in such fundamental areas as finance, marketing, accounting, business economics, decisions, operations and technology management, human resources and organizational behavior, information systems, strategy and policy.

Offering unparalleled expertise in management education, the world's business community turns to The Anderson School at UCLA as a center of influence for the ideas, innovations, strategies, and talent that will shape the future.

Media Relations