SOURCE: EDUCATIONAL TESTING SERVICE

July 12, 2005 09:00 ET

ETS's Scholarship & Recognition Program Awarded $5 Million Contract

Contract to Support African American Students in Louisiana

PRINCETON, NJ -- (MARKET WIRE) -- July 12, 2005 -- JPMorgan Chase has awarded the ETS Scholarship & Recognition Program (SRP) a $5 million, multi-year contract to administer the Louisiana Smart Start Scholarship Project, which will distribute college scholarship grants to African American students in Louisiana.

SRP will partner with JPMorgan Chase in establishing the Louisiana Smart Start Scholarship Program, which serves to acknowledge the historical wrongs committed against African Americans while providing educational opportunities for postsecondary study.

"We're excited by the size and historical significance of this new program, the Louisiana Smart Start Scholarship Project," says Michael Nettles, Vice President of the ETS Policy Evaluation & Research Center, which oversees SRP. "Beyond that, this program allows ETS to more effectively fulfill our mission to help provide equity and opportunity in education for those who need and will benefit greatly from it."

"I am thrilled that ETS has once again been awarded a JPMorgan Chase Smart Start contract," says Ellen M. DiVerniero, Senior Vice President JPMorgan Chase. "ETS's long-standing track record of quality service and professionalism adds to our confidence that this will be a great and successful program expansion."

SRP currently conducts scholarship recognition programs for more than 90 corporations, foundations and philanthropic and fraternal organizations. The program processes 30,000 new applications and renewable scholarships each year and, on behalf of their clients, distributes more than $18 million in awards annually.

ABOUT ETS

ETS is a nonprofit institution with the mission to advance quality and equity in education by providing fair and valid assessments, research and related services for all people worldwide. In serving individuals, educational institutions and government agencies around the world, ETS customizes solutions to meet the need for teacher professional development products and services, classroom and end-of-course assessments, and research-based teaching and learning tools. Founded in 1947, ETS today develops, administers and scores more than 24 million tests annually in more than 180 countries, at over 9,000 locations worldwide. Additional information is available at www.ets.org.

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