ÂÜÀòÉäÇø

February 1, 1999 For Immediate Release

ÂÜÀòÉäÇø Board of Governors has unanimously approved the creation of a company that will work to promote the business opportunities of the University.

University Resources Inc. (URI) will be a private company operating at arm's length from the University. It will have a Board of Directors that will be appointed by the University's Board of Governors. ÂÜÀòÉäÇø will be the single shareholder.

"URI will pursue a broad range of business opportunities ranging from innovation and research to marketing opportunities for commercial links with the University," says ÂÜÀòÉäÇø President Charles Jago. "For example, this new company will work with ÂÜÀòÉäÇø to develop a technology and business park on campus that will be particularly attractive to research-based and high-tech companies."

The Technology and Business Park will likely be located to the north of the main campus buildings and consist initially of a multi-tenant building. No construction timeline has been determined yet, but interest has been expressed from a number of companies.

"This development will strengthen ties between the University and the community," says Dr Jago. "The University will continue to work with community groups to address their research and information needs. URI will be a resource to help diversify the local economy and link businesses with high-quality researchers and provide access to state-of-the-art equipment. By creating a corporation to do this, the University can focus more clearly on what it does best: teaching and research."

It's expected that the Board of Directors for University Resources Inc will be appointed by the end of March.