University of Pittsburgh
December 21, 1998


Contact:  412-624-4147

PITTSBURGH, Dec. 22 -- Mellon Bank Corporation has made a multi-year gift of $1 million to the University of Pittsburgh to create the Mellon Bank Hall at the Katz Graduate School of Business.

The funds will be used to renovate the third floor of the Masonic Temple on the Pitt campus and create urgently needed space for classrooms, laboratories and informal student gatherings for the Katz School's highly regarded Center for Executive Education, ranked among the top 20 in the country.

"We are pleased that Mellon Bank is making this commitment to us," said Frederick W. Winter, dean of the Joseph M. Katz Graduate School of Business and the College of Business Administration at Pitt. "We are proud to have such a respected institution linked to the University and the Katz School in this way."

"We view this gift as an investment in the future of not only this region, but the entire global marketplace served by the University," said Frank V. Cahouet, chairman, president & CEO, Mellon Bank Corporation. "Recognizing the Katz School's world class excellence in business education, we believe these enhancements will contribute greatly to the school's goal of being among the best in preparing our future business leaders for successful and rewarding careers both here in Pittsburgh and throughout the world."

In addition to covering the costs associated with renovating classrooms and the grand hallway, the gift will help create first-rate facilities and purchase advanced support systems, including computer and communications equipment and software.

-30- 12/22/98/shg