ExxonMobil, Its Employees and Retirees, Contribute More Than $26 Million to Institutions of Higher Education; 932 Colleges and Universities to Receive Funding Through Educational Matching Gift Program

Monday, April 25, 2005 7:00 AM
Education
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IRVING, Texas--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Apr 25, 2005--ExxonMobil announced today its donation of more than $26 million to 932 colleges and universities across the United States through the ExxonMobil Foundation`s 2004 Educational Matching Gift Program. ExxonMobil employees, retirees, surviving spouses and directors made more than 9,000 individual contributions totaling $7.7 million to institutions of higher education in 2004, which was matched by the ExxonMobil Foundation with more than $18.6 million in unrestricted educational grants.

Initiated in 1962, the ExxonMobil Foundation`s Educational Matching Gift Program matches gifts to higher education on a 3-to-1 basis and has provided more than $301 million to higher education in the United States.

''Supporting education initiatives is of the highest priority to ExxonMobil and our employees,'' said Kenneth P. Cohen, vice president for public affairs, Exxon Mobil Corporation and chairman, ExxonMobil Foundation. ''This commitment is demonstrated through our matching gift program which provides funds to educational institutions for improvements and the advancement of learning opportunities. We commend ExxonMobil employees for their generous contributions and their support of higher education.''

Under the ExxonMobil Foundation`s 2004 Educational Matching Gift Program a donor could give up to $5,000 a year to colleges and universities with which he or she is affiliated, and the Foundation matched those gifts on a 3-to-1 basis up to $15,000. The affiliation requirement is waived for gifts to the United Negro College Fund, the Hispanic Scholarship Fund, and the American Indian College Fund. In response to the program`s tremendous support and success, ExxonMobil has increased the amount per donor to $7,500 starting with 2005 donations.

ExxonMobil Foundation is the primary philanthropic arm of Exxon Mobil Corporation in the United States. The Foundation engages in a broad range of philanthropic activities focusing on the communities where Exxon Mobil Corporation has significant operations. In addition, the Foundation supports research and dissemination on selected topics of interest to the energy industry. Focus areas include education, health and environment. In 2004, ExxonMobil Foundation, Exxon Mobil Corporation, and its divisions and affiliates provided $106.5 million in contributions worldwide, with more than $40 million dedicated to education.

Additional information on ExxonMobil`s community partnerships and contributions programs is available at https://www.exxonmobil.com/community.