Alan Greenspan, Chairman of the Board of Governors of Federal Reserve, Receives Deanís Medal at Wharton School MBA Commencement
David Pottruck to Keynote West Coast MBA Graduation in San Francisco

Philadelphia, PA and San Francisco, CA, April 19, 2005 — The Wharton School of the University of Pennsylvania has announced that Alan Greenspan, chairman of the Board of Governors of the Federal Reserve System, will be the featured speaker at the Schoolís MBA commencement in Philadelphia. The May 15 ceremony will occur at 1:00 p.m. at Franklin Field, located at Spruce and 33rd Streets on the campus of the University of Pennsylvania with a reception afterward at Jon M. Huntsman Hall.

At the ceremony, Wharton Dean Patrick Harker will award Greenspan the Deanís Medal for his years of public service. Appointed to head the Federal Reserve in 1987, Greenspan's five terms at the helm of the central bank of the United States have made him one of the most influential leaders in the domestic and global economy.

The Dean's Medal was created in 1983 to recognize outstanding leaders of private enterprise, public service, and academia. The awardees are chosen for their contributions to the enlargement of the global economy and to the improvement in the lives of people worldwide. The dean selects individuals who, through excellence in management, have truly made a difference in the creation of wealth and value, and in the promotion of a peaceful and prosperous world. Past recipients of the award include Reginald Jones, former chairman of General Electric, Lord Brown, chairman of BP, and Wang Dao Han, former mayor of Shanghai.

On May 8, Wharton will hold its third West Coast MBA commencement ceremony. The graduating students in the MBA for Executives program began their studies in 2003, two years after Wharton opened its West Coast campus in San Francisco, Wharton West. This yearís commencement speaker will be David Pottruck, managing director of the Pottruck Group. The Wharton West commencement will occur at 10:00 a.m. at the San Francisco War Memorial and Performing Arts Centerís Herbst Theater with a reception following at San Franciscoís City Hall.

About Greenspan
Greenspan took office in June of 2004 for a fifth term as Chairman of the Board of Governors of the Federal Reserve System. He also serves as chairman of the Federal Open Market Committee, the system's principal monetary policymaking body. He originally took office as chairman and to fill an unexpired term as a member of the board in 1987. Greenspan was reappointed to the board to a full 14-year term, which began in 1992 and ends January 31, 2006. He has been designated chairman by Presidents Reagan, Bush, Clinton, and Bush.

Greenspan earned a B.S. in economics in 1948, an M.A. in economics in 1950, and a Ph.D. in economics in 1977, all from New York University. He also has performed advanced graduate study at Columbia University.

His previous Presidential appointments include the President's Foreign Intelligence Advisory Board, the Commission on Financial Structure and Regulation, the Commission on an All-Volunteer Armed Force, and the Task Force on Economic Growth. Before his appointment to the Board, Greenspan served as a corporate director for Aluminum Company of America (Alcoa); Automatic Data Processing, Inc.; Capital Cities/ABC, Inc.; General Foods, Inc.; J.P. Morgan & Co., Inc.; Morgan Guaranty Trust Company of New York; Mobil Corporation; and The Pittston Company. His noncorporate positions have included member of the Board of Trustees of The Rand Corporation, director of the Institute for International Economics, member of the Board of Overseers of the Hoover Institution, and vice chairman and trustee of the Economic Club of New York.

About Pottruck
Pottruck is currently managing director of the Pottruck Group. He also serves as senior fellow in the Wharton School Center for Leadership and Change Management. Pottruck was formerly the chief executive officer of The Charles Schwab Corporation, where he worked from 1984 until 2004.

In addition to serving on the board of directors of Intel Corporation and the U.S. Ski and Snowboard Team Foundation, Pottruck is a senior advisor to DiamondCluster an international consulting firm. Pottruck recently co-authored the business book, Clicks and Mortar: Passion Driven Growth in an Internet Driven World, and he was appointed by Congress to serve as a commissioner on the Advisory Commission on Electronic Commerce.

Pottruck graduated with a B.A. from the University of Pennsylvania in 1970. He went on to receive his MBA with honors from Wharton in 1972. He is now a trustee of the University of Pennsylvania.

About Wharton West and the Wharton School
The Wharton School of the University of Pennsylvania is recognized around the world for its academic strengths across every major discipline and at every level of business education. Founded in 1881 as the first collegiate business school in the nation, Wharton has approximately 4,600 undergraduate, MBA, Executive MBA, and doctoral students, more than 8,000 participants in its executive education programs annually, and an alumni network of more than 80,000 worldwide.

The executive MBA program was one of the first programs launched at Wharton West, the Schoolís campus in San Francisco. A residential program, students attend classes on alternate weekends and during two week-long sessions in the summer. Students based in San Francisco have the option of spending a semester at Whartonís Philadelphia campus. Likewise, Philadelphia-based students have the opportunity to study at Wharton West. Because Wharton students live and work together during focused on-site sessions, students have an opportunity to forge close connections with classmates as well as to foster teamwork skills. In addition, the integration of work and study provides a living laboratory for applying knowledge.

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