FORMER SECURITIES AND EXCHANGE CHAIRMAN ARTHUR LEVITT JOINS NYU STERN AS FIRST FELLOW IN ETHICS AND LEADERSHIP --Citigroup Foundation Funds New Broad-based Initiative at NYU Stern-- NEW YORK, NY – October 8, 2003 – A trailblazer among business schools in first requiring ethics courses more than 30 years ago as part of its curriculum, New York University Stern School of Business has now appointed Arthur Levitt, former Securities and Exchange Chairman and champion of fairness in the securities markets, as its inaugural Citigroup Distinguished Fellow in Leadership and Ethics. For the 2003-4 academic year, Mr. Levitt will bring his extensive experience shaping policy and managing the interplay between the Securities and Exchange Commission (SEC) and Wall Street to the NYU Stern campus. The fellowship is one of several components of NYU Stern’s new Citigroup Leadership and Ethics Program, made possible through the generous support of the Citigroup Foundation. “We have always believed that as an educational institution, we have a duty to instill in our students a commitment to professional responsibility,” said Thomas F. Cooley, dean of NYU Stern. “We are honored to welcome Mr. Levitt to the Stern community. His contribution to the School will be both valuable and timely as the importance of ethics continues to command attention in the business world.” Bringing his distinct point of view to bear on business issues, with a particular emphasis on corporate social responsibility, Mr. Levitt will participate in multiple classroom and public forums throughout his fellowship. He will visit sections of Professional Responsibility and Professional Responsibility & Leadership, required courses in the MBA program and Stern’s Undergraduate College, respectively. Students will have the opportunity to engage with Mr. Levitt in small, informal class discussions and better understand the implications of the cases and course work they are studying. As fellow, Mr. Levitt will also serve as the anchor for a leadership and ethics symposium planned for December. The new Citigroup Leadership and Ethics Program, run in coordination with NYU Stern’s existing Markets, Ethics and Law Program, represents the School’s latest effort to extend its longstanding commitment to the practice of professionally responsible business. Mr. Levitt will serve as the first of three distinguished fellows under the program. In addition to the fellowship, this program will also support the development of curricular and research innovations in the area of leadership and ethics. “The Citigroup Foundation is committed to increasing the standard of leadership and ethics among future business leaders,” said Chip Raymond, President of the Citigroup Foundation. “We are thrilled to partner with Stern on such an innovative leadership development program.” Mr. Levitt was first appointed as chairman of the SEC in July 1993 during the Clinton Administration and was reappointed to a second five-year term in May 1998. As the SEC’s longest-serving chairman, Mr. Levitt worked to educate, empower and protect America’s investors—now more than 50 million strong. He is currently a senior advisor to The Carlyle Group, a private global investment firm, and sits on the boards of such companies as Bloomberg L.P. and Neuberger Berman. New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation’s premier management education schools and research centers. NYU Stern offers a broad portfolio of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the dynamism, energy and deep resources of the world’s business capital. ### Contact: Jessica Neville NYU Stern Public Affairs 212-998-0666 jneville@stern.nyu.edu