FOR IMMEDIATE RELEASE
FROM: Nancy Gardner (206) 543-2580
nancylou@u.washington.edu

DATE: August 30, 2006

Orin Smith, retired Starbucks president and chief executive officer, has donated $4.5 million to the University of Washington Business School to help fund its new buildings.

Smith, a 1965 graduate of the UW Business School and current advisory board member, said his gift was motivated by his desire to have a real impact on the future of the school.

"This has always been a very good business school," Smith said, "but it can't become a truly great school unless it has the right facilities to deliver the kind of business education needed in the 21st century."

"We are very grateful to Orin Smith for this wonderfully generous gift," UW President Mark A. Emmert said. "Orin is an exceptional business leader and one of the most distinguished graduates of our university. His gift will help the school realize its vision of having a world-class center for business education. Students and faculty will benefit from his generosity for years to come."

The new buildings will increase the school's total space by more than 30 percent. They will contain interactive lecture halls, wireless classrooms, computer labs and offices for faculty and staff. The Business School currently occupies five buildings on the UW campus: Balmer, Mackenzie and Lewis halls, the Foster Business Library and the Bank of America Executive Education Center.

"As a long-time member of our advisory board, Orin has provided invaluable advice and support to the Business School," said James Jiambalvo, UW Business School dean.

The Business School has raised more than $51 million dollars for the new facilities since it began its fundraising efforts in 2002. The university has pledged $40 million toward the $130 million project, set to break ground in 2008. In addition to his most recent gift, last year Smith gave $1 million for the building and $500,000 for student scholarships that help promote access and diversity.

Smith currently serves on the boards of directors for Nike, The Walt Disney Co. and Washington Mutual, as well as a number of non-profit organizations, including Conservation International, Starbucks Foundation and the University of Washington Foundation. He is the chairman of the University of Washington Medicine Board and will become chairman of the University of Washington Foundation in September. He received a master's degree in business administration from Harvard.