FOR IMMEDIATE RELEASE CONTACT: Leslie A. Dunbar

ldunbar@nul.org

New York, NY, November 15, 2000–The National Urban League will recognize two of the business community’s leading African American corporate executives during its 44^th Annual Equal Opportunity Day (EOD) Awards Dinner this evening at Pier Sixty, Chelsea Piers, in New York City.

Franklin Raines, the No. 1 ranked African American executive in the country and the first African-American to run a Fortune 500 company, will receive the League’s National Public Service Award.

The League is recognizing Raines for his path-finding role heading the Office of Management and Budget and for becoming the first African-American to run a Fortune 500 company and shatter the CEO glass-ceiling barrier.

American Express Company President and Chief Operating Officer Kenneth I. Chenault is receiving the League’s Leadership Award in recognition of his achievements, advancements and leadership within America’s corporate stratosphere.

After current American Express Company chief executive officer Harvey Golub relinquishes the chief executive\'s title in April 2001 and retires as chairman in 2002, Chenault will be the No. 2 ranked African American executive in the country.

"Both Mr. Raines’ and Mr. Chenault’s positions are well-deserved, as their career accomplishments bear eloquent witness," National Urban League President Hugh B. Price said. "Their appointments reflect significant benchmarks in the annals of African American history, and we are honored to recognize their achievements and all that they represent to the future of African Americans in the corporate world."

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The National Urban League’s Annual EOD Awards Dinner honors individuals and corporations who perpetuate the principle of equal opportunity and exhibit leadership qualities that result in notable contributions to the cause of equal rights. Proceeds from the dinner benefit the League’s education, technology, economic self-sufficiency and racial inclusion initiatives.

John Thain, President and Co-Chief Operating Officer, Goldman Sachs Group, Inc., is this year’s Dinner Chairman, and Roz Abrams, Anchor, Eyewitness News, WABC-TV, Channel 7, New York, is the Mistress of Ceremonies. Because this year marks the League’s 90^th anniversary, the evening’s festivities will also feature a look back at the organization’s nine decades of service.

Other National Urban League 44^th Annual EOD Awards Dinner honorees include:

• Merrill Lynch & Co. Inc — The Corporate Leadership Award (accepted by David H. Komansky, Chairman of the Board and Chief Executive Officer, Merrill Lynch & Co., Inc.) for their trailblazing efforts in creating an environment which fosters equal opportunity among society’s diverse cultures, while providing the catalyst for personal and professional achievement, as evidenced by the success of their historic ScholarshipBuilder program.

• Earvin "Magic" Johnson, President and Chief Executive Officer, Magic Johnson Enterprises — The Community Service Award for raising the economic development playing field of minority communities across the country, as evidenced by his successful chain of movie theaters, and for the philanthropic efforts enacted through the Magic Johnson Foundation, a non-profit organization which directs its efforts toward the health, educational, and social needs of inner city youth.

• Mrs. Ann S. Kheel and Mr. Theodore W. Kheel — The Special Recognition Award in honor of their combined decades of service to the League.

Founded in 1910, the National Urban League is a nonprofit organization that, through its more than 100 affiliates in 34 states and the District of Columbia, provides direct services and functions as an advocate to generate policy reforms that empower African-Americans to achieve economic, academic and racial equality. The League’s headquarters is located at 120 Wall Street in New York City. Visit the League’s Web site at www.nul.org.