NADA FOUNDATION GIVES $1 MILLION TO SEPTEMBER 11 FAMILIES

San Francisco February 2, 2003; The National Automobile Dealers Charitable Foundation (NADCF) today presented a check for $1 million to Scholarship America to aid families of September 11 victims. The money will be distributed to two funds.

One is the Families of Freedom Scholarship Fund, which provides scholarships to spouses and children of people killed or permanently disabled in the attacks, and which will pay out the money over the next 25 years. Whereas most of the contributions after September 11 were for immediate needs, the Families fund was designed to help with long-term needs, said Marilyn Rundell, Scholarship America’s vice-president of scholarship management services.

The second fund designated for NADCF’s contribution—the Families of Freedom 2: Building Futures Through Education Fund—provides scholarships for families who lost income because their Lower Manhattan businesses were destroyed or impaired.

All awards will be based on need.