$5 Million UCSD School Of Management Gift Honors Connect Co-Founder William Otterson

Media Contact: Keri Peckham, 858-534-0855 or kpeckham@ucsd.edu

October 14, 2003

The University of California, San Diego (UCSD) today announced a $5 million gift from Carol and William Stensrud to support the recently established School of Management.

The university also announced that its $1 billion fund-raising initiative, The Campaign for UCSD: Imagine What's Next, has surpassed the halfway point. The campaign total as of October 14, 2003 is $509.2.

The campaign began in July 2000, was publicly launched in March 2003 and is scheduled to conclude June 2007. The Stensruds have made their gift in memory of the late William Otterson, co-founder and former director of UCSD CONNECT and a champion of entrepreneurship in San Diego. UCSD CONNECT is a regional program that builds relationships among the university, entrepreneurs and companies in an effort to grow strong businesses.

"UCSD is extremely grateful for this gift from Carol and William Stensrud, which will further the development of the School of Management," said UCSD Acting Chancellor Marsha Chandler. "The fact that they chose to honor Bill Otterson with their gift is of special significance for all of us at UCSD. We are delighted that they wanted to create this enduring tribute to such a visionary leader."

"We felt that it was important to support UCSD's School of Management and help create a world-class institution. We believe that the school's laser focus on entrepreneurship and technology management will have a profound impact on the San Diego region," said William Stensrud.

"We wanted to honor our friend Bill Otterson with this gift, in recognition of the leadership role he had in the region's high-tech development. His contribution to San Diego cannot be overstated," added Stensrud. "Bill was a mentor and friend to me, and he had an enduring impact on San Diego and every entrepreneur in the region. I hope that others will join me in honoring Bill at the new business school."

William Stensrud is the chief executive officer of Ensemble Communications Inc. and a managing partner of Enterprise Partners, a venture capital firm. Carol, a homemaker, has served on the boards of the San Diego Symphony and the Palomar Family YMCA. The couple resides in Poway, Calif. Their oldest son is a student of UCSD and their two other children attend Poway High School. The couple previously has supported UCSD through gifts for the planning for the School of Management, UCSD Athletics and the Rebecca and John Moores UCSD Cancer Center. William Stensrud was a UCSD CONNECT board member from 1994-1996 and a School of Management Ad-Hoc committee member. He has been a Chairman of the board of the San Diego Opera, a board member of the NVCA, a founding board member at the San Diego Telecom Council and the Emerging Markets in Telecommunications Group. The couple supports a number of local organizations, including the San Diego YMCA, the San Diego Opera, the San Diego Symphony and The San Diego Rescue Mission.

"William Stensrud has been actively involved with the planning and launch of the School of Management. He prizes the role of technology and the entrepreneurial spirit in the economic vitality of San Diego and beyond," said Sullivan. "Having this gift recognize Bill Otterson honors his outstanding leadership, and also serves as a very high benchmark for me and those of us who are busy defining and launching this new school. No other single individual has fueled the San Diego entrepreneurial spirit more than Bill Otterson, and I know that our new School of Management was part of his dream."

UCSD's School of Management was established in response to the growing need for strong management and leadership skills in the technology-driven California economy. It also was established with the intent of providing world-class graduate business education opportunities. The University of California Board of Regents approved plans for the School of Management in October 2001, and the charter class of executive MBA students will enroll in fall 2004. The charter class of full-time students is slated for fall 2005, and the first executive education and leadership courses (non-degree) will commence in November, 2003.

Unlike conventional MBA programs, UCSD's program will target younger students from diverse cultural backgrounds who have an understanding and appreciation of science and technology. It is anticipated that at least 60 percent of the student body will have science and engineering backgrounds. The school will offer a variety of full-time and executive MBA programs, executive programs and a Ph.D. program. In addition, joint degree programs will be offered with the Jacobs School of Engineering, School of Medicine, and Graduate School of International Relations and Pacific Studies.

UCSD CONNECT is a globally recognized, university-based non-profit organization fostering entrepreneurship in the San Diego region by accelerating and supporting the growth of promising technology and life sciences businesses. Focused on assisting growth companies in the San Diego region, UCSD CONNECT has been directly involved with more than 900 companies since its inception in 1985, and these companies have gone on to raise more than $7.3 billion in capital.