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CONTACT: MICHAEL NEW
President, University of Iowa Foundation
Iowa City IA 52242
(319) 335-3305
e-mail: michael-new@uiowa.edu

Release: Immediate

(Background information for Henry Tippie naming gift story)

Philanthropist Tippie shares wealth close to heart, home

IOWA CITY, Iowa -- Although his $30 million commitment to name the University of Iowa College of Business is the largest gift Henry Tippie (1949 B.S.C.) has ever made, it's far from the first. In addition to supporting his alma mater for many years, Tippie has made a significant difference in his hometown of Belle Plaine, Iowa, and has given to a number of other causes, particularly those related to higher education.

According to the University of Iowa Foundation, Tippie began giving to the UI more than 40 years ago and at a very modest level -- his first gift was just $10. Prior to today's naming gift, his support for the University totaled approximately $3 million, most of which was directed to the College of Business, in addition to gifts to UI athletics and other areas of the University. Within the College, Tippie has endowed and/or supported the following funds through his gifts to the foundation:

- The Henry B. Tippie Scholarship to benefit UI students graduating from Belle Plaine High School (1979)

- The Henry B. Tippie Accounting Scholarship to benefit junior and senior accounting majors (1981)

- The Henry B. Tippie Endowed Chair in Business Administration, currently held by accounting Professor Daniel Collins (1987)

- The College of Business Administration Building Campaign, in which the 156-seat Tippie Auditorium is named in his honor. Pat's Diner, which is the building's food service area, as well as the Undergraduate Student Lounge are named for his wife, Patricia Bush Tippie (1991)

- The Henry Fund, which provides Iowa M.B.A. students with portfolio management experience (created with Henry Royer, former president and CEO of Firstar Bank, Cedar Rapids, in 1994)

- The Henry B. Tippie Research Professorships, which eventually will support a professorship in each of the college's six departments (1997)

In Belle Plaine, population 2,800, Tippie provided $200,000 in matching funds to help build a new community library, which was completed in 1990. He also made sizeable contributions to build the town's airport, to construct a Kirkwood Community College continuing education center in Belle Plaine in 1994, and to endow scholarships for Belle Plaine students attending Kirkwood.

Kirkwood's main campus in Cedar Rapids also has benefited from Tippie's generosity, as well as his interest in agriculture. The Tippie Beef Education Center, which opened in January 1998, includes classrooms, an 8,600-square foot indoor arena, and other facilities related to modern cattle production and management.

Outside of Iowa, Henry and Pat Tippie have been very generous to Pat's alma mater, Allegheny College, in Meadville, Pa. The couple has endowed two Patricia Bush Tippie Allegheny College Scholarships for students from Pat's hometown of New Castle, Pa.; created an endowed chair in English; helped fund the college's new science building, in which the Tippie Lounge is named in their honor; and provided substantial support for the college's Sport and Fitness Center.

2/18/99