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UNIVERSITY OF CHICAGO GRADUATE SCHOOL OF BUSINESS AND ARGENTARIA ANNOUNCE THE ESTABLISHMENT OF A EUROPEAN EXECUTIVE M.B.A. PROGRAM

 /ADVANCE/MADRID, Spain, June 11 /PRNewswire/ -- The University of Chicago Graduate School of Business and Argentaria, a banking and financial services holding company in Spain, jointly announced today (Friday, June 11, 1993) that the Graduate School of Business will establish a European executive M.B.A. program based in Barcelona.
 Classes will begin in July 1994 and will be taught by members of the same faculty that now teach at the school's Chicago campus.
 The program will be taught in a series of ten short modules over a 16-month period to allow business executives to continue working full time and travel from throughout Europe to attend classes for intense periods of group study.
 "This represents the first time a leading U.S. business school will offer an executive program in Europe that leads to an M.B.A. degree," said Robert S. Hamada, who becomes dean of the Graduate School of Business July 1. Hamada is a professor at the school and chaired the faculty committee that spent the past two years developing the new program.
 The announcement was made at a news conference here following the signing of a letter of intent between the school and Argentaria to proceed with the project.
 Argentaria is making a donation to the Graduate School of Business by providing the school with a building in which to hold classes.
 The European M.B.A. program will target the same type of middle and upper level business executives as the school's U.S. executive program and will feature a similar curriculum but with more emphasis on international material, Hamada said.
 Unlike regular M.B.A. programs, executive M.B.A. programs are geared toward middle and upper level business executives with at least 10 years of work experience.
 The new University of Chicago program is designed to have leading European firms nominate their high-potential managers as students, Hamada said, however any qualified business executive can apply for admission.
 "Enrollment will be limited to 80 business executives drawn from throughout Europe," he said. Most of the students will fly, drive or commute by train from countries outside of Spain. Their ages are expected to range from the early thirties to the early forties.
 "Students who complete our new European executive M.B.A. program will receive an M.B.A. degree equivalent to our four existing M.B.A. programs now available in Chicago," Hamada said.
 More than 3,700 students have graduated from the executive M.B.A. program of the University of Chicago Graduate School of Business, including Julien Charlier, chairman of the board, Dollfus Mieg et Cie, Paris, and Richard Teerlink, chief executive officer of Harley-Davidson Motor Company.
 The Graduate School of Business is consistently rated among the finest business schools in the world, according to surveys of corporate executives, alumni and deans. It was the first business school in the world to have a Nobel laureate on its faculty.
 The Graduate School of Business gained the additional distinction of being the only business school whose faculty included three winners of the Nobel Prize.
 Corporacion Bancaria de Espana, S.A. and its subsidiaries, which operate under the trade name Argentaria, together represent one of the three largest banking and financial groups in Spain.
 The banking and financial businesses of Argentaria include corporate banking, mortgage financing, institutional banking (banking involving government clients) and retail banking. Other businesses include international banking, foreign currency, government securities and money market trading, investment banking, funds management and insurance, principally life insurance.
 -0- 6/11/93/0700
 /CONTACT: Allan Friedman, 312-702-7128, or home, 708-724-0874 or Debra Hale 312-702-7128, or home, 708-475-2285, both of the University of Chicago Graduate School of Business/


CO: University of Chicago Graduate School of Business; Argentaria ST: Illinois IN: SU:

SM -- NY017 -- 0500 06/10/93 09:35 EST
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Date:Jun 10, 1993
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