Groundbreaking Scheduled for McDonough School of Business Site

March 27, 2006

Contact:
Cynthia S. Shaw
(202) 687-4080
css27@georgetown.edu

Groundbreaking Scheduled for McDonough School of Business Site

Washington, D.C. -- The long awaited McDonough School of Business site blessing and groundbreaking ceremony will take place at noon on March 31st. On-site in Lot T, McDonough School of Business Dean George Daly and President Jack DeGioia will commemorate the day along with more than 150 donors in attendance. The new building for the McDonough School of Business is an $82.5 million dollar venture, which is scheduled to be completed in the spring of 2008.

"The new building for the McDonough School of Business is central to our plan for the future -- to become a world class enterprise. It will create a sense of place, provide outstanding facilities and an environment that promotes interaction with our students, alumni, recruiters and other constituencies," said Daly.

The approximate 172,000-square foot plan for the building encompasses a five story structure which will sit on the western half of Lot T, directly adjacent to the Leavey Center and new Multi-Sport facility. Featuring 15 classrooms, 33 breakout rooms, 12 interview rooms, and 15 conference rooms, the new design includes five times the student common area currently available for McDonough School of Business students. The building will also house 124 faculty offices and an auditorium seating 367. An underground parking lot and plaza connecting the new structure to the Leavey Center enhance the structure's functionality.

"The new building will greatly expand the School's potential," said DeGioia. "Having a world-class facility which reflects the School's world-class curriculum, faculty and research will enhance the McDonough School of Business' ability to educate our next generation of business leaders."

Currently, the university has secured over $75 million dollars in philanthropic support towards the project. Approximately 35 individuals have committed over $500,000. Georgetown is relying completely on the support of alumni, parents, foundations, corporations and friends of the School to cover building costs. Naming opportunities are still available, ranging from $25,000 to $25 million, including classrooms, team rooms and faculty offices. For more information on the building, or on giving opportunities, please visit http://msb.georgetown.edu/ and select A New Home For McDonough, or contact Mike Boyd, director of development, at mb298@georgetown.edu.

"The new building is a symbol of the very exciting future and momentum that the Business School has," noted Bob Steers (B'75), chairman of the McDonough Board of Advisors and co-CEO of Cohen and Steers Capital Management, Inc. "This really is the new era of the McDonough School of Business."

The University has hired Whiting Turner as construction managers, and internationally acclaimed Olin Partnership for landscape architecture. Boston architects Goody Clancy are responsible for the new building's design, which is guided by the School's strategic plan. Georgetown received final approval for construction from the D.C. Zoning Commission in early December 2005.

"The sides that face the public areas are stone and brick, detailed in a style that blends well to the historic feel of the campus," said Alice Boyer, director of facilities planning for the University. "The side that faces the new quad and future Science building is a more modern glass look. It is a blend of the old and new."

About the Robert Emmett McDonough School of Business
Georgetown University's McDonough School of Business is a premier, distinguished business school located in the nation's capital. Founded in 1957 to educate undergraduate business students through the integration of liberal arts and professional education, the McDonough School today has approximately 1,300 undergraduates, 620 MBA students, and more than 500 participants in its executive education programs annually. For more information about the McDonough School, visit msb.georgetown.edu.

About Georgetown University
Georgetown University is the oldest Catholic and Jesuit university in America, founded in 1789 by Archbishop John Carroll. Georgetown today is a major student-centered, international, research university offering respected undergraduate, graduate and professional programs on its three campuses. For more information about Georgetown University, visit www.georgetown.edu.