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Sumitomo Bank contributes $25,000 to the National Hispanic University's Endowment Fund.

SAN FRANCISCO--(BUSINESS WIRE)--June 23, 1997--Sumitomo Bank of California (NASDAQ:SUMI) announced today that it has contributed $25,000 toward The National Hispanic University's endowment fund.

Founded in 1981 for Hispanic and other minority students, NHU began a campaign eighteen months ago to raise $250,000 to establish an endowment fund. By meeting their goal, the school would qualify for a $500,000 matching Endowment Challenge Grant from the U.S. Department of Education. With only days to go before their May 30th deadline, the University was still $25,000 short of their goal.

A last minute donation request was made to Sumitomo Bank of California. "We worked hard on this campaign, right until the eleventh hour," said Dr. B. Roberto Cruz, President of the University. "We were $25,000 short of our goal, and Sumitomo Bank of California stepped in with their pledge to help put us over the top. We are tremendously grateful to them."

"We believe that all students in California deserve every opportunity for a good education so they can successfully compete in today's global marketplace," remarked Tsuneo Onda, President and CEO of Sumitomo Bank of California, who presented the check to Dr. Cruz. Mary Salinas Dursn, Senior Vice President and Manager of the Bank's Community Development Department, added, "We are pleased that we were able to assist the National Hispanic University meet its fundraising challenge and as the sixth largest bank in the State, we feel that reaching out to the Latino community is critical to our long-term success."

Headquartered in San Francisco, Sumitomo Bank of California ranks sixth largest in California with $5.1 billion in assets, and operates 47 branches throughout the State.

CONTACT: Sumitomo Bank

Yukio Kitagawa, 415/445-3824
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Publication:Business Wire
Date:Jun 23, 1997
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