Executive Leadership Council and Goldman Sachs Announce Winners of First Business Case Competition for Leadership in the New Millennium

NEW YORK – The Executive Leadership Council (ELC) and Goldman, Sachs & Co. announced the winners of the 2002 Business Case Competition, "Leadership in the New Millennium," which was held here today. In the competition, predominantly African-American MBA student teams presented their analysis of key challenges and strategic recommendations facing the newly appointed AOL Time Warner CEO, Richard Parsons.

Finalist teams from Amos Tuck School of Business, Yale School of Management and Harvard Business School presented their proposals to a panel of distinguished judges: Goldman Sachs President and Co-COO John Thain, ELC President Carl Brooks, RR Donnelley & Sons Company Senior Vice President Alana Ward Robinson, Harvard Business School Professor David A. Thomas, Amos Tuck School of Business at Dartmouth Professor Paul Argenti and Goldman Sachs Managing Director Sergio Sotolongo.

The winners of the 2002 Business Case Competition are as follows:
First Place Cash Award of $20,000: Harvard Business School – Lisa Bourne, Tjada
D'Oyen, Sitella Glenn and Panya Lei Yarber
Second Place Cash Award of $10,000: Amos Tuck School of Business – Robert Callahan,
Jason Harris, Kathryn Taneyhill, Kirk Tramble and Krystal Williams
Third Place Cash Award of $5,000: Yale School of Management – Jill Gibson, Yohannes
Haile, Jay Readey and Funmi Akinlawon

"The Business Case Competition is but one of ELC's many programs designed to educate young people about today's business challenges. We are delighted by our partnership with Goldman Sachs and the high caliber of student entrants the competition has attracted," said Carl Brooks ELC President.

ELC and Goldman Sachs sponsored this business case competition to offer students an opportunity to examine a business in addition to showing support to the next generation of African-American corporate executives.

"Goldman Sachs is proud to sponsor this competition in the hopes of fostering future African-American business leaders while supporting the ELC's mission to promote and implement charitable, entrepreneurial and educational opportunities for African-American executives," said John A. Thain, President and Co-COO of Goldman Sachs.

Founded in 1986, the Executive Leadership Council (ELC) is an organization of more than 275 senior-level African-American corporate executives. The organization provides members with a network and leadership forum that adds perspective and direction to achieving excellence in business, economic and public policies for the African-American community, corporate America, and the community at large. For more information about the ELC, visit the Council's Web site at www.elcinfo.com.

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that 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.