Upromise Brings Together America's Leading Companies to Help Families Save For College

AT&T, Citibank(R), Coca-Cola, CVS/pharmacy, ExxonMobil, General Motors,

McDonald's, Toys'R'Us, Inc., America Online and Other Leading Companies To

Contribute to Families' College Savings Accounts



Contributions to be Invested in Tax-Advantaged 529 College Savings Plans

Managed by Salomon Smith Barney and Fidelity Investments(R)



Apr 24, 2001, 01:00 ET from Upromise, Inc.

    BROOKLINE, Mass., April 24 /PRNewswire Interactive News Release/ --
 Upromise, Inc., today launched its much-anticipated service to accelerate
 families' college savings.  Through Upromise, leading companies -- including
 AT&T, Citibank, Coca-Cola, CVS/pharmacy, ExxonMobil, General Motors,
 McDonald's, Toys"R"Us, Inc., America Online, Inc.**, Borders Group, Century
 21(R), Coldwell Banker(R), ERA(R), Countrywide Home Loans, Staples, and
 Starwood Hotels -- will contribute a percentage of a customer's spending to a
 college savings account for their children, grandchildren or any other future
 college student they wish to support.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010424/SFTU039 )
     "America's best companies are joining together to help solve the number
 one 'stay awake' issue for parents," said Michael Bronner, founder and CEO of
 Upromise.  "We're creating an entirely new source of college funding for
 families, and giving them a smarter, easier way to save."
     The contributing companies will also launch an unprecedented public
 awareness campaign, featuring Upromise in billions of mailers, bill inserts
 and circulars, and on in-store displays at their nearly 60,000 retail
 locations nationwide.  More than 200,000 real estate agents, mortgage brokers
 and sales representatives will be trained to offer and explain the free
 Upromise service.
     "Upromise's contributing companies have the marketing power, consumer
 trust and community presence to reach every family in America.  Together, we
 have the power to launch a movement," said Senator Bill Bradley, director and
 special advisor to Upromise.  "I predict that, in 10 years, we won't remember
 a day when there wasn't Upromise."
 
     Upromise Contributing Companies
     America's most trusted companies will give families the opportunity to
 save for college every day.  A family savings network (parents, plus two other
 family members) can save more than $20,000 through college contributions from
 these companies:
 
     -- AT&T (NYSE:   T).  America's largest long distance company will
        contribute 4 percent of customers' residential AT&T Service charges to
        their Upromise college savings accounts.  AT&T serves 60 million
        residential customers in the US.
     -- Citibank (NYSE:   C).  The world's leader in the credit card business
        will contribute 1 percent of purchases made on enrolled Citi credit
        cards.  Nearly 70 million Citi Cards are in use nationwide.
     -- Coca-Cola (NYSE:   KO).  The world's largest non-alcoholic beverage
        company will contribute 3 percent of Coca-Cola classic, Diet Coke and
        Sprite purchases.  (Nationally available in 2002)
     -- CVS/pharmacy (NYSE:   CVS).  America's largest drugstore chain will
        contribute up to 4 percent of purchases made at any of its
        4,100 locations through its ExtraCare loyalty card.  More than
        two million customers visit a CVS/pharmacy every day.
     -- ExxonMobil (NYSE:   XOM).  The nation's largest gasoline retailer will
        contribute a minimum of one cent per gallon of gasoline purchased at
        all 16,000 Exxon and Mobil locations.  Every day, more than
        4 million customers buy more than 52 million gallons of gas at Exxon
        and Mobil service stations -- a total of 19 billion gallons yearly.
        (Coming Summer 2001)
     -- General Motors (NYSE:   GM).  America's largest automaker will
        contribute $150 on a new vehicle purchase or lease at their more than
        7,000 dealerships.  GM sold 5 million vehicles in the U.S. in 2000.
     -- McDonald's (NYSE:   MCD).  The world's leading foodservice retailer will
        announce its contribution in the summer of 2001.  McDonald's serves
        20 million customers each day in its 13,000 U.S. restaurants, and will
        leverage its enormous customer and employee base to help educate
        American families about Upromise.
     -- Toys"R"Us, Inc (NYSE:   TOY).  The world's leading retailer of toys and
        juvenile products will contribute 2 percent of purchases.
        Eighty million customers shop at the 1,050 Toys"R"Us, Kids"R"Us,
        Babies"R"Us and Imaginarium stores each year; one out of two expectant
        mothers registers at Babies"R"Us.
     -- America Online, Inc. (NYSE:   AOL).**  The world's leading interactive
        services company, with more than 29 million members, will contribute
        $50 when a Upromise member signs up for the AOL service, or when they
        refer a family member or friend to AOL.  America Online is an AOL Time
        Warner company.  (Coming summer 2001)
     -- Borders Group (NYSE:   BGP).  America's second largest bookseller will
        contribute 2 percent of purchases at the more than 1,200 Borders and
        Waldenbooks stores nationwide.  Together, Borders and Waldenbooks serve
        more than 30 million customers per year.
     -- Century 21, Coldwell Banker, and ERA (NYSE:   CD).  Participating
        brokers at three of America's leading real estate franchise brands will
        contribute one half percent of the purchase or sale of a home.
        Combined, Century 21, Coldwell Banker and ERA participate in one out of
        out every four home sales in America.  (Coming Fall 2001)
     -- Countrywide Home Loans (NYSE:   CCR).  America's leading independent
        mortgage lender will contribute 0.2 percent of each new mortgage.
        Countrywide currently manages a loan servicing portfolio of
        $294 billion, representing nearly three million mortgage customers.
        (Coming Fall 2001)
     -- Staples (Nasdaq:   SPLS).  An $11 billion dollar retailer of office
        supplies and services as well as the largest operator of office super
        stores in the world will contribute 2 percent of all purchases at its
        more than 1,000 US retail locations, mail order catalogs and website.
        (Coming Summer 2001)
     -- Starwood Hotels and Resorts (NYSE:   HOT).  Starwood will convert
        Starpoints into college contributions.  Starwood operates
        725 properties worldwide, including Sheraton, Westin, Four Points by
        Sheraton, St. Regis, The Luxury Collection and W Hotels.
        (Coming Fall 2001)
     -- Upromise Restaurant Network.  More than 7,000 restaurants will
        contribute 10 percent of a customer's total bill through Transmedia,
        America's leading dining network.
     -- 70 Online Retailers.  Many of the most popular shopping sites,
        including LandsEnd.com and Spiegel.com, will contribute up to
        12 percent of purchases made through www.upromise.com.
 
     During the coming months, Upromise will announce additional college
 savings opportunities in new categories, including grocery, travel, retail and
 more.
     Contributions are subject to specific terms and conditions, which are
 detailed at www.upromise.com.
 
     Upromise Service Overview
     Anyone who enrolls in Upromise at www.upromise.com will have a portion of
 his or her spending with contributing companies deposited in their Upromise
 college savings account.  Families can multiply Upromise college contributions
 by building their own savings network of parents, grandparents, aunts, uncles
 and friends, all directing their contributions to a child's account.  The
 Upromise service is free.
     The Upromise service also makes it easy for families to invest their
 contributions in a "529" college savings plan managed by Salomon Smith Barney
 or Fidelity Investments.  These 529 Plans, which allow families to invest
 their college savings tax-deferred, are managed according to the child's age
 and family's investment goals.  Once a family designates an existing 529 Plan
 or opens a new one through Upromise, its college contributions automatically
 will be periodically invested into that account.
     By spending wisely with contributing companies, saving regularly,
 involving family and friends, and investing their contributions in
 tax-advantaged college savings plans, families can significantly accelerate
 their college savings.
 
     A College Savings Crisis
     A recent survey by Hart Research Associates found that 83 percent of
 parents believe a college degree is the most important gift they give their
 children.  But 82 percent of parents believe that college is getting out of
 reach, and half of parents with college-bound students have saved $1,000 or
 less for college.  Over the next 10 years, Americans will assume over
 $390 billion in federal student loan debt alone.
 
     About Upromise
     Upromise, Inc. is a college savings accelerator that helps families create
 their own college savings network with trusted companies and their extended
 family and friends.  The free Upromise service also makes it easy for families
 to invest their savings in professionally managed, tax-advantaged college
 savings accounts.  The Upromise Education Foundation, an affiliated non-profit
 entity, will help lower-income students make it to college, realize their
 potential and earn a degree. Upromise is located in Brookline, Mass. For more
 information, visit www.upromise.com or call 617-582-1400.
     The Upromise Advisory Board is comprised of leaders in education,
 government and business, including:  Bill Bradley, former U.S. Senator; Kim
 Clark, Dean, Harvard Business School; Johnnetta B. Cole, President emeritus,
 Spelman College; George Fisher, Chairman, Kodak; Thomas Kean, President of
 Drew University and former Governor of New Jersey; Amos B. Hostetter, Jr.,
 former chairman, Continental Cablevision (now AT&T Broadband); Donald Kennedy,
 Professor and former President, Stanford University; Madeleine Kunin, Former
 Governor of Vermont and former Deputy Secretary of Education; David
 Rockefeller, Jr., Rockefeller & Co., Inc.; Donald Stewart, former President,
 The College Board; Dr. Clifton Wharton, former Chairman and CEO, TIAA-CREF and
 former President, Michigan State University; John C. Whitehead, former
 Chairman, Federal Reserve Bank of New York and former Co-Chairman, Goldman,
 Sachs & Co.
     Securities-related services are provided under a service agreement between
 Upromise, Inc. and Upromise Investments, Inc., a member NASD/SIPC.
     College savings of $20,000 or more based on spending assumptions for a
 household earning $58,000/year (median income for families with children).
 Assumes an 8% investment return, and that the family and friends savings
 network contributions are equal to half of primary family's contributions.
 Savings over 15 years.
     Fidelity Distributors Corporation, Fidelity Investments Institutional
 Services Company, Inc., 82 Devonshire Street, Boston, MA 02109
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X04312047
 
 

SOURCE Upromise, Inc.
    BROOKLINE, Mass., April 24 /PRNewswire Interactive News Release/ --
 Upromise, Inc., today launched its much-anticipated service to accelerate
 families' college savings.  Through Upromise, leading companies -- including
 AT&T, Citibank, Coca-Cola, CVS/pharmacy, ExxonMobil, General Motors,
 McDonald's, Toys"R"Us, Inc., America Online, Inc.**, Borders Group, Century
 21(R), Coldwell Banker(R), ERA(R), Countrywide Home Loans, Staples, and
 Starwood Hotels -- will contribute a percentage of a customer's spending to a
 college savings account for their children, grandchildren or any other future
 college student they wish to support.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010424/SFTU039 )
     "America's best companies are joining together to help solve the number
 one 'stay awake' issue for parents," said Michael Bronner, founder and CEO of
 Upromise.  "We're creating an entirely new source of college funding for
 families, and giving them a smarter, easier way to save."
     The contributing companies will also launch an unprecedented public
 awareness campaign, featuring Upromise in billions of mailers, bill inserts
 and circulars, and on in-store displays at their nearly 60,000 retail
 locations nationwide.  More than 200,000 real estate agents, mortgage brokers
 and sales representatives will be trained to offer and explain the free
 Upromise service.
     "Upromise's contributing companies have the marketing power, consumer
 trust and community presence to reach every family in America.  Together, we
 have the power to launch a movement," said Senator Bill Bradley, director and
 special advisor to Upromise.  "I predict that, in 10 years, we won't remember
 a day when there wasn't Upromise."
 
     Upromise Contributing Companies
     America's most trusted companies will give families the opportunity to
 save for college every day.  A family savings network (parents, plus two other
 family members) can save more than $20,000 through college contributions from
 these companies:
 
     -- AT&T (NYSE:   T).  America's largest long distance company will
        contribute 4 percent of customers' residential AT&T Service charges to
        their Upromise college savings accounts.  AT&T serves 60 million
        residential customers in the US.
     -- Citibank (NYSE:   C).  The world's leader in the credit card business
        will contribute 1 percent of purchases made on enrolled Citi credit
        cards.  Nearly 70 million Citi Cards are in use nationwide.
     -- Coca-Cola (NYSE:   KO).  The world's largest non-alcoholic beverage
        company will contribute 3 percent of Coca-Cola classic, Diet Coke and
        Sprite purchases.  (Nationally available in 2002)
     -- CVS/pharmacy (NYSE:   CVS).  America's largest drugstore chain will
        contribute up to 4 percent of purchases made at any of its
        4,100 locations through its ExtraCare loyalty card.  More than
        two million customers visit a CVS/pharmacy every day.
     -- ExxonMobil (NYSE:   XOM).  The nation's largest gasoline retailer will
        contribute a minimum of one cent per gallon of gasoline purchased at
        all 16,000 Exxon and Mobil locations.  Every day, more than
        4 million customers buy more than 52 million gallons of gas at Exxon
        and Mobil service stations -- a total of 19 billion gallons yearly.
        (Coming Summer 2001)
     -- General Motors (NYSE:   GM).  America's largest automaker will
        contribute $150 on a new vehicle purchase or lease at their more than
        7,000 dealerships.  GM sold 5 million vehicles in the U.S. in 2000.
     -- McDonald's (NYSE:   MCD).  The world's leading foodservice retailer will
        announce its contribution in the summer of 2001.  McDonald's serves
        20 million customers each day in its 13,000 U.S. restaurants, and will
        leverage its enormous customer and employee base to help educate
        American families about Upromise.
     -- Toys"R"Us, Inc (NYSE:   TOY).  The world's leading retailer of toys and
        juvenile products will contribute 2 percent of purchases.
        Eighty million customers shop at the 1,050 Toys"R"Us, Kids"R"Us,
        Babies"R"Us and Imaginarium stores each year; one out of two expectant
        mothers registers at Babies"R"Us.
     -- America Online, Inc. (NYSE:   AOL).**  The world's leading interactive
        services company, with more than 29 million members, will contribute
        $50 when a Upromise member signs up for the AOL service, or when they
        refer a family member or friend to AOL.  America Online is an AOL Time
        Warner company.  (Coming summer 2001)
     -- Borders Group (NYSE:   BGP).  America's second largest bookseller will
        contribute 2 percent of purchases at the more than 1,200 Borders and
        Waldenbooks stores nationwide.  Together, Borders and Waldenbooks serve
        more than 30 million customers per year.
     -- Century 21, Coldwell Banker, and ERA (NYSE:   CD).  Participating
        brokers at three of America's leading real estate franchise brands will
        contribute one half percent of the purchase or sale of a home.
        Combined, Century 21, Coldwell Banker and ERA participate in one out of
        out every four home sales in America.  (Coming Fall 2001)
     -- Countrywide Home Loans (NYSE:   CCR).  America's leading independent
        mortgage lender will contribute 0.2 percent of each new mortgage.
        Countrywide currently manages a loan servicing portfolio of
        $294 billion, representing nearly three million mortgage customers.
        (Coming Fall 2001)
     -- Staples (Nasdaq:   SPLS).  An $11 billion dollar retailer of office
        supplies and services as well as the largest operator of office super
        stores in the world will contribute 2 percent of all purchases at its
        more than 1,000 US retail locations, mail order catalogs and website.
        (Coming Summer 2001)
     -- Starwood Hotels and Resorts (NYSE:   HOT).  Starwood will convert
        Starpoints into college contributions.  Starwood operates
        725 properties worldwide, including Sheraton, Westin, Four Points by
        Sheraton, St. Regis, The Luxury Collection and W Hotels.
        (Coming Fall 2001)
     -- Upromise Restaurant Network.  More than 7,000 restaurants will
        contribute 10 percent of a customer's total bill through Transmedia,
        America's leading dining network.
     -- 70 Online Retailers.  Many of the most popular shopping sites,
        including LandsEnd.com and Spiegel.com, will contribute up to
        12 percent of purchases made through www.upromise.com.
 
     During the coming months, Upromise will announce additional college
 savings opportunities in new categories, including grocery, travel, retail and
 more.
     Contributions are subject to specific terms and conditions, which are
 detailed at www.upromise.com.
 
     Upromise Service Overview
     Anyone who enrolls in Upromise at www.upromise.com will have a portion of
 his or her spending with contributing companies deposited in their Upromise
 college savings account.  Families can multiply Upromise college contributions
 by building their own savings network of parents, grandparents, aunts, uncles
 and friends, all directing their contributions to a child's account.  The
 Upromise service is free.
     The Upromise service also makes it easy for families to invest their
 contributions in a "529" college savings plan managed by Salomon Smith Barney
 or Fidelity Investments.  These 529 Plans, which allow families to invest
 their college savings tax-deferred, are managed according to the child's age
 and family's investment goals.  Once a family designates an existing 529 Plan
 or opens a new one through Upromise, its college contributions automatically
 will be periodically invested into that account.
     By spending wisely with contributing companies, saving regularly,
 involving family and friends, and investing their contributions in
 tax-advantaged college savings plans, families can significantly accelerate
 their college savings.
 
     A College Savings Crisis
     A recent survey by Hart Research Associates found that 83 percent of
 parents believe a college degree is the most important gift they give their
 children.  But 82 percent of parents believe that college is getting out of
 reach, and half of parents with college-bound students have saved $1,000 or
 less for college.  Over the next 10 years, Americans will assume over
 $390 billion in federal student loan debt alone.
 
     About Upromise
     Upromise, Inc. is a college savings accelerator that helps families create
 their own college savings network with trusted companies and their extended
 family and friends.  The free Upromise service also makes it easy for families
 to invest their savings in professionally managed, tax-advantaged college
 savings accounts.  The Upromise Education Foundation, an affiliated non-profit
 entity, will help lower-income students make it to college, realize their
 potential and earn a degree. Upromise is located in Brookline, Mass. For more
 information, visit www.upromise.com or call 617-582-1400.
     The Upromise Advisory Board is comprised of leaders in education,
 government and business, including:  Bill Bradley, former U.S. Senator; Kim
 Clark, Dean, Harvard Business School; Johnnetta B. Cole, President emeritus,
 Spelman College; George Fisher, Chairman, Kodak; Thomas Kean, President of
 Drew University and former Governor of New Jersey; Amos B. Hostetter, Jr.,
 former chairman, Continental Cablevision (now AT&T Broadband); Donald Kennedy,
 Professor and former President, Stanford University; Madeleine Kunin, Former
 Governor of Vermont and former Deputy Secretary of Education; David
 Rockefeller, Jr., Rockefeller & Co., Inc.; Donald Stewart, former President,
 The College Board; Dr. Clifton Wharton, former Chairman and CEO, TIAA-CREF and
 former President, Michigan State University; John C. Whitehead, former
 Chairman, Federal Reserve Bank of New York and former Co-Chairman, Goldman,
 Sachs & Co.
     Securities-related services are provided under a service agreement between
 Upromise, Inc. and Upromise Investments, Inc., a member NASD/SIPC.
     College savings of $20,000 or more based on spending assumptions for a
 household earning $58,000/year (median income for families with children).
 Assumes an 8% investment return, and that the family and friends savings
 network contributions are equal to half of primary family's contributions.
 Savings over 15 years.
     Fidelity Distributors Corporation, Fidelity Investments Institutional
 Services Company, Inc., 82 Devonshire Street, Boston, MA 02109
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X04312047
 
 SOURCE  Upromise, Inc.

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