Search

Goldman Sachs to Facilitate Gifts to Charity


NEW YORK – The Goldman Sachs Group, Inc. (NYSE: GS) announced today that, to facilitate gifts to charitable foundations and public charities, it will lift transfer restrictions on a limited amount of the Goldman Sachs common stock held by its former partners who were active at the time of the firm's initial public offering in May 1999, and by former owners of its Hull subsidiary.

The firm has filed a registration statement with the Securities and Exchange Commission covering up to one million shares to permit charitable organizations to sell the shares they are given. The waiver of transfer restrictions and the share registration will apply solely to shares donated for charitable purposes. The donors will not receive proceeds from this transaction. This program continues the firm's commitment to charitable giving by its former partners.



Goldman Sachs is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.



A registration statement relating to the common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

A copy of the preliminary prospectus relating to the offering may be obtained from the Prospectus Department at Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, U.S.A.