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EXXON EDUCATION FOUNDATION GIVES $8.6 MILLION TO HIGHER EDUCATION

 EXXON EDUCATION FOUNDATION GIVES $8.6 MILLION TO HIGHER EDUCATION
 IRVING, Texas, May 21 /PRNewswire/ -- The Exxon Education Foundation today announced it had made unrestricted grants totaling more than $8.6 million to 822 colleges and universities. The grants were made under the foundation's Educational Marching Gift Program, which provides three to one matching of gifts given by Exxon employees and retirees to U.S. higher education institutions. Today's grants included matches for gifts made in late 1991 and early 1992. On an annual bases, grants from the foundation's Matching Gift Program total about $11 million.
 The Matching Gift Program was instituted by the Exxon Education Foundation in 1962 to stimulate individual giving by employees and retirees to colleges and universities. Over the last 30 years, $111 million has been provided through this program to some 1,000 institutions of higher learning.
 In announcing today's grants, Elliot R. Cattarulla, chairman of the Exxon Education Foundation, said: "We are pleased to mark the 30th anniversary of our matching-gift partnership with Exxon donors and their colleges and universities. We note with pride that, at a time when colleges and universities are experiencing economic hardship, Exxon's employees and retirees have demonstrated their concern for higher education by participating in our matching gift program in record numbers and at record-breaking levels."
 Under the current terms of the matching gift program, a donor can give up to $5,000 a year to colleges and universities with which he or she is affiliated and the foundation will match those gifts with up to $15,000 in grants.
 Established and supported by Exxon Corporation since 1955, the Exxon Education foundation is a nonprofit organization aiding education in the U.S. In addition to its matching gift program, the foundation's principal areas of interest at this time are mathematics education, the restructuring of elementary and secondary schooling, university-based scientific research, and increasing educational opportunities for minorities. It has sponsored a number of innovative, nationally- oriented projects in these areas. Total foundation giving in 1991 exceeded $19 million.
 -0- 5/21/92
 /CONTACT: Exxon Media Relations, 214-444-1107, 214-444-1108, or 214-444-1109/ CO: Exxon Education Foundation ST: Texas IN: SU:


SM-LR -- NY045 -- 2795 05/21/92 11:43 EDT
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Publication:PR Newswire
Date:May 21, 1992
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