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CONTACT: SHAWN PRESLEY
100 Old Public Library
Iowa City IA 52242
(319) 384-0011; fax (319) 384-0024
e-mail: shawn-presley@uiowa.edu

Release: Immediate

Winners of Iowa Investment Challenge announced

IOWA CITY, Iowa -- Play money turned to cash for 25 University of Iowa students last month when the awards were given for the spring 1997 Iowa Investment Challenge stock trading competition hosted by the College of Business Administration.

The winners were among the 58 students who each used a fictional $5 million account to buy and sell stocks during the competition that ran from Feb. 3 through May 2. Cash prizes were awarded to the students with the highest cash balance at the close of trading on the contest's final day. The $350 first prize was awarded to Hock Lye Ho, a finance major who lives in Iowa City. A total of $3,000 was divided among the 25 winners with prizes ranging from a first prize of $350 to $50.

In its second year the Investment Challenge is intended to give students firsthand experience in realistic trading. It uses live price quotes, charges commissions on trades, pays dividends and allows students to trade only when the market is open. The data is accessed through Dow Jones Markets, the same program used by financial professionals, which is available at the Business School.

The awards were presented at a ceremony held in May in the Pappajohn Business Administration Building.

The rank of each student, the amount of the award, name and hometown are as follows:

1. $350, Hock Lye Ho of Iowa City

2. $300, Bob Schnell of Edina, Minn.

3. $250, Mark Thompson of Bondurant

4. $200, Andrea Belzer of Des Moines

5. $150, Chris Augustine of Sioux City

6. $125, Ben Barudin of Davenport

7. $125, Marcus Ekstrand of Sweden

8. $125, Scott E. Alford of Quincy, Ill.

9. $125, Anthony Catalano of Chicago, Ill.

10. $125, Roxana Atristain of Hoffman Estates, Ill.

11. $100, Kenneth R. Haley of Hinsdale, Ill.

12. $100, Phon Vilayoune of Ottumwa

13. $100, Andy Damrow of Cedar Rapids

14. $100, Peter Masucci of Matawan, N.J.

15. $100, Jamie Henley of Tipton

16. $75, Tiffany Houghton of Urbandale

17. $75, Ryan Patterson of Fort Dodge

18. $75, Kevin Yeager of Royal

19. $75, Ben Kuehner of Readlyn

20. $75, Tim Irwin of Arthur

21. $50, Kok-Weng Lai of Malaysia

22. $50, Steve Dufault of Lake Villa, Ill.

23. $50, Teri Fah of North Liberty

24. $50, Shun Lai of Hong Kong

25. $50, Philip Holst of Ida Grove

6/4/97