CHEVY CHASE DONATES $580,000 TO THE ROBERT H. SMITH SCHOOL OF BUSINESS

College Park, MD - January 21, 1999 - Chevy Chase Bank, the largest thrift based in Greater Washington and the area's 4th largest bank, is donating $580,000 to the Robert H. Smith School of Business at the University of Maryland, College Park. The endowment created by the contribution will fund the Chevy Chase MBA Fellowships and the Chevy Chase Bank Dean's Scholarships for undergraduates at the Smith School.

The generous gift is part of Chevy Chase's $1 million commitment to the Bold Vision -- Bright Future campaign, the university's effort to raise $350 million in private support. Chevy Chase's gift also will support Dean's Scholarships in mathematics and computer science, and an enhancement fund for the Division of Student Affairs.

"As a Maryland-based business, we are pleased to have this opportunity to develop a broad and lasting partnership with the state's flagship institution of higher education," said Alexander R. M. Boyle, vice chairman of the Chevy Chase board. "Since its founding in the 1960s, Chevy Chase Bank has drawn strength from the many College Park students and graduates who have become part of our organization. This gift is our chance to pay tribute to those who made a significant contribution to our growth, as well as to help and encourage today's students, our future employees, customers, and neighbors."

Competitive graduate fellowship and undergraduate scholarship opportunities are critical to the Smith School's advancement. "We very much appreciate the support of Chevy Chase Bank, a highly respected institution and a valuable business school partner," said Smith School Dean Howard Frank. "The Chevy Chase MBA Fellowships and Dean's Scholarships will add distinction to our programs and strengthen our ability to compete for top students."

About the Robert H. Smith School of Business

The Robert H. Smith School of Business at the University of Maryland is an internationally recognized leader in management education and research for the digital economy. The school offers cross-functional study options in its six academic departments, which include accounting and information assurance; decision and information technologies; finance; logistics, business, and public policy; management and organization; and marketing. More information about the Robert H. Smith School of Business can be found at http://www.rhsmith.umd.edu.