KINGSTON, R.I. — Nov. 17, 2000 — The University of Rhode Island announced today that $5.4 million or 96 percent of the $5.6 million private Shareholders Campaign goal has been raised to expand and completely rebuild the 33-year-old Ballentine Hall. The total raised also includes a $500,000 Challenge Grant from The Kresge Foundation. The total cost of the project is $10.6 million, with the remaining $5 million coming from two Rhode Island bond issues and URI asset protection funds. It was the support of the college’s alumni, and specifically its Business Advisory Council that in large part provided the foundation for such a successful private fund-raising campaign. Richard J. “Dick” Harrington, the chairman of the Ballentine Shareholders Campaign, has been a major contributor to the effort. In praising the support of the alumni, Harrington also acknowledged Dean Edward M. Mazze, the Alfred J. Verrechia-Hasbro Inc. Leadership Chair in Business; the former interim dean, Frank Budnick; and former development officers Karen Davis and Cameron Jones for their roles in the project. “The support of our alumni has been outstanding since we began talking about how we can make the College of Business the standard for excellence. Since we launched the public phase of the campaign in 1997, they have consistently supported this project, and the donations are still coming in,” Harrington said. “URI provided me with a challenging and exciting educational experience,” said the 1973 graduate of the College of Business Administration. “This entire drive has been about providing our future business leaders with the tools they need to compete in the business world of tomorrow. This fund-raising success and groundbreaking ceremony are strong evidence of how much our alumni care about the success of URI and especially its students,” said Harrington. Cynthia Marcille Deysher, a 1978 graduate of the College of Business Administration, and former vice president of operations and chief financial officer at ArrowPoint Communications, said she made a recent $250,000 donation to honor her family’s deep connection to URI. “URI and the College of Business have been extremely important to my family for many years,” said Deysher, who is now with Cisco Systems, which bought ArrowPoint in June. “My father, Robert Marcille, was a graduate of the engineering college in 1949. Five of the eight children in my family have attended URI, three of them graduating from the college of business. The business college and its professors supported me during my undergraduate years and laid the foundation for my career. I am extremely gratified to be able to acknowledge URI’s contributions through a gift in the name of the Marcille family.” Robert M. Beagle, vice president of University Advancement at URI, praised Harrington, Deysher and other alumni such as Alfred J. “Al” Verrecchia, who together with, Hasbro Inc., supported the campaign and endowed the first chair in the College. “This kind of support is nothing new for individuals like these,” Beagle said. “These individuals have been long time supporters of URI. When they were asked to step to the plate in this campaign, I wasn’t surprised by their positive response and overwhelming support. As top executives in their fields, they are constantly on the go, but never too busy to visit with students, talk with business leaders or play critical roles in their alma mater’s fund-raising efforts. This is a proud day for all of us.” Beagle also praised his fund-raising team — Paul Witham, associate vice president for development; Wade Wilks, director of the Shareholders Campaign, and Lynn Clapham, director of major gifts – for doing the nitty-gritty work of the campaign. “We have a number of fund-raising and renovation projects under way, and it is a credit to all our people — staff, faculty and alumni — that we are approaching our fund-raising goals in every single project,” Beagle said.” For Information: Linda A. Acciardo 401-874-2116, Dave Lavallee 401-874-2116