Van Munching Donates $6 Million to Expand and Renovate Business School's Home

College Park, MD - May 27, 1999 - Leo Van Munching Jr. has donated $6 million to help finance the expansion and renovation of Van Munching Hall, the home of the Robert H. Smith School of Business at the University of Maryland, College Park. An alumnus of the Smith School, Van Munching graduated from the University of Maryland in 1950 with a degree in marketing and business administration. He is the retired president of Van Munching & Co., the sole U.S. importer of Heineken Beer.

Van Munching in 1993 donated $5 million to the business school to finance the construction of Van Munching Hall. At that time, his gift was the largest received by the University of Maryland. In 1997, Van Munching gave another $2.5 million to support the business school's Undergraduate Business Career Center, which also bears his name. His combined gifts of $13.5 million make him the third largest donor to the university.

"My continuing support reflects the conviction I hold that the business school, both graduate and undergraduate, is on the right track," said Van Munching. "The school is maximizing the benefits for the students and therefore the university."

The Van Munching Hall addition, at more than 100,000 square feet, will double the business school's physical space, creating an information technology infrastructure and learning environment that will be among the nation's most advanced. Adjoining the existing building, the new structure will house classrooms as well as expanded space for the Van Munching Undergraduate Business Career Center and the Graduate Career Management Center. It also will house the Knowledge and Information Management Center, which is a new catalyst for integrating business and technology in the Smith School, the Office of Undergraduate Studies, and the Office of Executive Programs.

The construction budget is estimated at nearly $25 million. The Maryland Legislature earlier this year appropriated $6 million as seed construction funding. The University of Maryland will match the state's contribution; the Smith School of Business is raising private funds to finance the remaining amount. Construction is scheduled to begin in early 2000 with occupancy in August 2001.

The existing building will be renovated, enhancing space for several business school programs, including the MBA and MS Program Office and the Dingman Center for Entrepreneurship.

"Leo Van Munching's enormous generosity will benefit current and future generations of students," said Howard Frank, dean of the Robert H. Smith School of Business. "He serves as an exceptional example for those seeking to make an impact on the world."

Van Munching serves on the Dean's Council of Advisors for the Smith School of Business. He also was one of the alumni and friends honored by the business school during its 75th anniversary celebration in April 1998. Van Munching and his wife, Peggy, live in Darien, Conn.

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.