AmericaEconomia Ranks Top Business Schools in Latin America: Latin American MBA Students Reap the Rewards of Increased Competition and Greater Local Partnerships.

Business Editors

MIAMI--(BUSINESS WIRE)--Sept. 7, 2000

ITESM-Mexico Ranked Number One for third consecutive year and for

the first time there is a tie for fourth place between two Chilean

universities

In the September 7 issue of AmericaEconomia, a Dow Jones & Company publication, the magazine surveys and ranks "Latin America's Best Business Schools." For the third consecutive year, the Monterrey Institute of Technology (ITESM) maintained its leadership position within the rankings, and for the first time two Chilean universities tied for fourth. Competition for students came not only from local institutions but also from abroad. Business schools in Europe and the United States aiming to specialize in Latin America also increased their local presence developing strategies to capture future MBA students with local and international aspirations. The real beneficiaries of this increased competition are the students in the region and the future of the business economy in Latin America.

A survey of 610 Latin American business executives, conducted by the research team of AmericaEconomia, found that 80% preferred to study for their MBA in the United States, rather than venturing to Europe. Key deciding factors for the survey participants were school prestige, price and location. From a cost perspective alone, executives would opt to attend a local or European business school. However, U.S. institutions of higher learning were deemed to be more prestigious and to have more desirable locations for networking and future employment. This year's rankings also found an increase in local universities obtaining international accreditation, such as the American Assembly of Colleges and Schools of Business(AACSB), and forming greater alliances with universities abroad, like Harvard, Stanford and Penn's Wharton in the United States. From a European standpoint, Spanish universities have integrated U.S. marketing strategies to entice students. They have begun to promote scholarships and financial aid programs to lure new students into their institutions, which include the Instituto de Empresa (IES), which according to the study, provides a comparable education to Duke University in the United States.

Universities from the United States lead the international and local counterparts in terms of brand strength and acceptance in Latin America. Their presence consists of a longer tenure in the region and stronger ties and alliances to local universities for cross-marketing purposes. For example, Tulane University in New Orleans and The University of Texas at Austin continue their quest for leadership Latin America. While they may not be perceived as direct competition for Harvard, these universities do offer an Ivy League-quality education at a fraction of the cost. However, Harvard has also recently moved to strengthen its local footprint by inaugurating a research center in Buenos Aires, Argentina this past August. As reputable Latin American universities work to raise the bar in their own territories, competition from the north and around the world raise standards of excellence and educational offerings even higher. To further enrich their local partnerships and alliances, Harvard University offered its Latin American educational counterparts 7,000 case studies and the resources to conduct research at its business school. This strategy allows Harvard to make a solid entry into the region where it can gather firsthand intelligence on practical Latin America case studies, while furthering their competitive advantage over their US academic competitors.

"Options for today's Latin American business student have increased greatly, making the selection for the 'right' school more challenging," stated Ricardo Zisis, publisher and executive vice president of AmericaEconomia. "This ranking of the 'Best Business Schools in Latin America' allows us to take a sneak preview at the future of the business world as it will evolve in Latin America. Today's students aim to balance three key elements: prestige, price and location when making their MBA enrollment decision and our report aspires to be the tool that provides guidance to better make that choice."

In addition to the survey of cities, the research team at AmericaEconomia produces several special reports each year. These include the "500 Largest Latin American Companies," "The Region's Top Twenty-five Banks," "Latin America's Most Competitive Global Companies," the "Annual Survey of Executive Salaries," and most recent "Top Cities to do Business in Latin America."

About AmericaEconomia

Published since 1986, AmericaEconomia is a Dow Jones & Company publication. Published biweekly in Spanish and Portuguese, it is the preferred pan-regional business magazine among influential executives in Latin America. Produced by reporters and editors located in Santiago, Buenos Aires, Bogota, Mexico City, Rio de Janeiro, Sao Paulo, New York and Miami, as well as by a network of correspondents worldwide, AmericaEconomia provides unmatched coverage of local and cross-border business developments of the region with a true Latin American perspective.

In addition to AmericaEconomia, Dow Jones & Company (NYSE: DJ; www.dj.com) publishes The Wall Street Journal and its international and online editions, Barron's and SmartMoney magazines and other periodicals, Dow Jones Newswires, Dow Jones Indexes, and the Ottoway group of community papers. Dow Jones is co-owner with Reuters group of Factiva, with Excite@Home of Work.com, and with NBC of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.