Dina Kanellos, 334/ 844-2203

DALLAS EXECUTIVE DONATES $1 MILLION TO AU COLLEGE OF BUSINESS

AUBURN -- Texas businessman Bennie Bray is giving Auburn University's College of Business $1 million to help fund undergraduate honors scholarships and establish a faculty professorship.

"I want to ensure that other young people have the same opportunity to experience Auburn that I did," said Bray, co-founder and managing partner of Dallas-based Monarch Capital Partners, LLC. "I could not have done it without financial assistance while I was a student and maybe this will help some students in the same way.

"When I was in school at Auburn I grew up, learned to be on my own and still remember experiences that helped me along the way. I made friends that remain friends and the spirit of Auburn has stayed with me until today. I have been very fortunate in my business career and I feel honored to be able to give something back to Auburn, to the College of Business and its faculty and students."

The announcement of the gift was made by John Jahera, interim dean of the College of Business.

"We are extremely grateful for Bennie's investment in the College of Business and in the future of business education at Auburn," said Jahera. "Such a generous gift will allow the College to continue to not only attract and retain top students but also outstanding faculty. This gift recognizes that the greatest resource we have is people, both students and faculty."

A long-time supporter of AU, Bray has been generous with his time on behalf of the College of Business, serving as a member of the College of Business Advisory Council. In September, he participated in the Lowder Visiting Executive-in-Residence program, speaking to undergraduate classes and the MBA students for several days.

A 1972 graduate of the AU College of Business, Bray has had a successful career as a banker, real estate investor, entrepreneur and angel investor. Prior to forming Monarch Capital Partners, he was president of Bray Company, an investment concern specializing in leveraged buy-outs, venture capital, and real estate investments. Bray has also served as an investor and officer in various company start-ups over the past 20 years, including businesses in the fields of technology, distribution and finance.

The first Bray Honors Scholarship funded by the endowment is expected to be awarded in spring 2003. In addition to his endowment support, Bray contributed a non-endowed gift to initiate the Bray Honors Scholarship program with a full-tuition scholarship for the 2002-2003 academic year. The scholarship was awarded to Ryan McMullin, an outstanding incoming freshman from Metairie, La., who will be enrolling in the College of Business.

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CONTACT: Ron Evans, 334/844-1155.