Dr. Ruth J. Simmons Joins Goldman Sachs Board of Directors

NEW YORK - The Goldman Sachs Group Inc. (NYSE:GS) today announced that Dr. Ruth J. Simmons, President of Smith College in Northampton, Massachusetts, has joined its Board of Directors.

Before joining Smith in 1995, Dr. Simmons served as Vice Provost of Princeton University from 1992 to 1995 and Provost at Spelman College from 1990 to 1992. She also served in a variety of academic administration positions at Princeton from 1983 to 1990, including Associate Dean of Faculty. Earlier in her career, she was on the faculties of the University of Southern California, California State University at Northridge and the University of New Orleans. Smith is the largest women's college in the United States and has an endowment of US$915 million.

"Ruth Simmons is an accomplished scholar and recognized leader in the field of higher education," said Henry M. Paulson, Jr., Chairman and Chief Executive Officer. "She is an outstanding addition to our Board and we look forward to working with her."

Ruth Simmons commented, "I am delighted to be joining the Board of the world's premier investment bank. I look forward to contributing to the Board as Goldman Sachs helps its clients pursue an array of opportunities in the world's rapidly changing markets."

Dr. Simmons is also a director of the Metropolitan Life Insurance Company, Pfizer Inc. and Texas Instruments. She is a Trustee of the Carnegie Corporation, a member of the Board of Trustees of The Clarke School for the Deaf, and a member of the Advisory Council to the Bill and Melinda Gates Millennium Scholars Foundation. She graduated from Dillard University and has an M.A. and Ph.D. from Harvard University in Romance Languages and Literatures.

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.