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HI529 - Hawai'i's College Savings Program Gives Sweepstakes Winner A Boost In College Savings.

HONOLULU -- Hawai'i Lt. Governor James R. "Duke" Aiona, Jr. and HI529 - Hawai'i's College Savings Program (HI529) announced today that Ms. Kuulei Amado of Mililani has won the HI529 sweepstakes drawing, earning $529 toward higher education.

The drawing, resulting from entries collected fourth-quarter 2009, was designed to educate Hawai'i families about their home state's 529 plan. Participants entered the sweepstakes by logging onto www.hi529.com and learning facts about 529 college savings plans.

"The sweepstakes drawing was a way to create excitement about HI529 while bringing important information to Hawai'i families to broaden their understanding of how to save for college," said Lt. Governor Aiona. "Keeping college a priority is important at all life stages. We feel this contest helped us to do just that - and helped our winner with an important boost to her college savings account."

"When I went to college, my parents were not able to help me financially, so I had to pay my own way. I want to be able to have a little money saved for when my children decide to go to college," said Ms. Amado. "I've never won anything before. To me, it feels like I have won the lottery. I am so thankful for this jumpstart to my children's college savings fund."

The sweepstakes drawing follows the introduction of Ugift([R]) - Give College Savings to HI529 in December. This online feature makes it easy for HI529 account owners to invite family and friends to give gift contributions to a child's HI529 account.

Hawai'i's Department of Budget and Finance manages HI529 - Hawai'i's College Savings Program, which is a tax-advantaged savings program designed to help families save for higher education. The Program has over 3,800 total accounts as of December 31, 2009.

For more information about HI529 and Ugift, call toll-free 1-866-529-3343 or visit www.hi529.com.

For more information about HI529 -- Hawai'i's College Savings Program, call 1-866-529-3343 or visit www.hi529.com to obtain a Disclosure Statement. Investment objectives, risks, charges, expenses, and other important information are included in the Disclosure Statement; read and consider it carefully before investing. Upromise Investments, Inc., Distributor and Underwriter.

If you are not a Hawai'i taxpayer, consider before investing whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

The State of Hawai'i's College Savings Program Trust Fund (the "Trust") is a trust created by the State of Hawai'i. When you invest in HI529 -- Hawai'i's College Savings Program (the "Plan"), you are purchasing portfolio units issued by the Trust. Portfolio units are municipal securities. The Plan is administered by the Director of Finance of the Department of Budget and Finance on behalf of the State of Hawai'i. Upromise Investments, Inc. and Upromise Investment Advisors, LLC, serve as the Program Manager and recordkeeping and administrative servicing agent, respectively, with overall responsibility for the day-to-day operations. The Vanguard Group, Inc. serves as the Investment Manager for the Plan. The Plan's portfolios, although they invest in mutual funds, are not mutual funds.

Investment returns are not guaranteed, and you could lose money by investing in the Program. Participants assume all investment risks, including the potential for loss of principal, as well as responsibility for any federal and state tax consequences.

Upromise, the Upromise logo, and Ugift are registered service marks of Upromise, Inc.

Not FDIC insured. No Bank, State, or Federal guarantees. May lose value.
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Publication:Business Wire
Geographic Code:1U9HI
Date:Mar 16, 2010
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