NEW SCHOOL UNIVERSITY HONORS MERRILL LYNCH CHAIRMAN AND CEO STAN O’NEAL AT 2005 LA GUARDIA AWARD DINNER

BOB KERREY TO HOST DINNER AND MAYOR BLOOMBERG TO BE KEYNOTE SPEAKER AT BENEFIT ON WEDNESDAY, MARCH 16, 2005

(New York, NY - March 8, 2005) New School University will honor Stan O’Neal, chairman and chief executive officer of Merrill Lynch & Co. Inc., at the2005 La Guardia Award Dinner on Wednesday, March 16, 2005. New School University President Bob Kerrey will host the evening, which will begin with a reception at 6:30 p.m., followed by a dinner at 7:30 p.m., at the Sheraton New York Hotel and Towers at 811 Seventh Avenue at 53rd Street in Manhattan. Mayor Michael Bloomberg will be the keynote speaker. The La Guardia Award Dinner raises scholarship money for New School University. With last year’s proceeds, the University was able to award more than $1.2 million in scholarships to over 137 students.

Honoree Stan O’Neal heads one of the world’s leading personal and institutional financial management and advisory firms with offices in 36 countries and total client assets of approximately $1.6 trillion. He became chief executive of the company in December 2002 and was elected chairman in April 2003. He has held a series of increasingly responsible positions since joining the company in 1986 as vice president of investment banking. Before joining Merrill Lynch, Mr. O’Neal was employed at General Motors Corporation in New York and Madrid.

Mr. O’Neal is a director of General Motors Corporation. He also serves on the Board of Executives of the New York Stock Exchange, the boards of the New York City Partnership, Memorial Sloan-Kettering, the Center for Strategic and International Studies (CSIS), The Lincoln Center Theater, and the Financial Services Roundtable. Mr. O’Neal is a member of the Business Roundtable, the Council on Foreign Relations, and the U.S. Secretary of State Advisory Committee on Leadership and Management.

Mr. O’Neal serves on the advisory board of The Bronx Preparatory School, is a former vice chairman of the Securities Industry Association and formerly served on the boards of the NASDAQ Stock Market, The Lower Manhattan Development Corporation, The Ronald McDonald House, Catalyst and The National Urban League. A resident of New York City, Mr. O’Neal holds an M.B.A. with distinction in Finance from Harvard University and is a graduate of Kettering University (formerly General Motors Institute).

Benefit Leadership includes Bob Kerrey, President of New School University and Arjun Appadurai, Provost, New School University. Benefit Vice Chairs for the evening include Allen & Company; Paul Critchlow, Merrill Lynch & Co., Inc.; Robert R. Dyson, The Dyson-Kissner-Moran Corporation; Sheila C. Johnson; Julien J. Studley,The Julien J. Studley Foundation; and John L. Tishman. Benefit Co-Chairs include The Arnhold Foundation’ Bingham McCutchen, LLP; John L. Rice III, Clayton, Dubilier & Rice; Douglas & Susanne Durst; Jason & Wendy Flom; Fried, Frank, Harris, Shriver & Jacobson, LLP; Mr. and Mrs. Michael E. Gellert; Goldman Sachs; Hughes Hubbard & Reed, LLP; Felix G. Rohatyn, Rohatyn Associates LLC and a 2002 honoree; and Ira Schuman, Geoffrey Newman & Kurt Handschumacher Studley, Inc.

The La Guardia Award recognizes individuals who, through their contributions, exemplify the compassion, courage and determination of the city’s legendary mayor - Fiorello H. La Guardia. Past recipients of the Fiorello H. LaGuardia Award have included Senator George Mitchell, Felix G. Rohatyn, David Rockefeller, Henry Kravis, Carl McCall, former Senator Patrick Moynihan, John L. Tishman, former Governor Mario Cuomo, former Mayors David N. Dinkins and Edward I. Koch.

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New School University, with more than 8,000 matriculated students and 15,000 continuing education students, is a New York City university committed to critical scholarship, artistic integrity, and ethical responsibility in the social sciences, humanities, the arts and design. It is comprised of a liberal arts foundation of three schools: The New School, Eugene Lang College and the Graduate Faculty of Political and Social Science, and five professional schools: Parsons School of Design, Mannes College of Music, Actors Studio Drama School, Milano Graduate School of Management and Urban Policy, and the Jazz & Contemporary Music Program. New School Online University offers one of the largest selections of online courses in the nation. For further information about New School University, call (212) 229-5600 or visit the Web site at www.newschool.edu.