African-American and financially disadvantaged students nationwide will have the opportunity to apply for scholarships at one of the country's premier universities thanks to a $25 million donation Enterprise-Rent-A-Car Company has pledged to Washington University in St. Louis.

This gift, which will endow a permanent fund, is the largest ever made for undergraduate scholarships in the university's history and will establish the Enterprise Rent-A-Car Endowed Scholarship Fund. Scholarship recipients will be known as Enterprise Rent-A-Car Scholars.

The announcement was made today by Washington University Chancellor Mark S. Wrighton, Enterprise Rent-A-Car President and Chief Executive Officer Andrew C. Taylor, and Enterprise Rent-A-Car Foundation President Jo Ann Taylor Kindle.

"The Enterprise Rent-A-Car gift is the largest the university has ever received for undergraduate scholarship support, and it guarantees that a minimum of 30 to 40 deserving students will be able to attend Washington University as undergraduates each year," Wrighton said. "The gift will provide scholarships that will continue in perpetuity."

Each year, one half of the Enterprise Fund's earnings will be directed to African-American students who will be selected based on criteria established by Washington University's John B. Ervin Scholars Program, which administers scholarships to exceptional African-American students on the basis of academic merit, leadership skills, and commitment to community service. The John B. Ervin Scholars Program is named in memory of Washington University's first African-American dean.

The other half of the Fund's earnings will support students who require financial assistance. Additionally, approximately 10 percent of the scholarships awarded will be reserved for high school graduates and community college transfers from the St. Louis region.

Andrew Taylor said he, his sister, Jo Ann Kindle, and their father, Jack C. Taylor, chairman of Enterprise and a long-time friend of Washington University, initiated the gift to support a "world-class university located in Enterprise's hometown of St. Louis." The Taylor family strongly believes that the strength and overall excellent reputation of Washington University serves as a magnet to attract talented individuals to the St. Louis region. Both Jack and Andy Taylor serve on the Washington University board of trustees, and Jack attended Washington University prior to serving in the United States Navy in World War II.

"Washington University is one of the top-ranked institutions in the country, and Enterprise wants to help it develop the best and brightest minds from all segments of our society," said Andrew Taylor. "We hope this gift will encourage many students to pursue their undergraduate education here, and that our gift will inspire others to support scholarships."

The Enterprise gift supports the Campaign for Washington University, a major fund-raising effort currently underway. One of the objectives of the Campaign is to raise $175 million in new scholarships and fellowships for students.

Accepting the Enterprise gift, Chancellor Wrighton said, "The Taylors are great citizens of our community in so many ways. Their company's gift to the university demonstrates Enterprise Rent-A-Car's commitment to expanding opportunities for deserving young scholars from throughout our society to attend Washington University."

Washington University in St. Louis is a medium-sized, independent university, and is regarded among the world's leaders in teaching and research. Twenty-one Nobel laureates have been associated with the institution. Approximately 12,000 undergraduate, graduate and professional students are enrolled, representing all 50 states and more than 100 countries.

The university's undergraduate programs are among the most sought after in the nation, with nearly 21,000 applications received for the 1,280 openings in the fall 2001 freshman class.

Founded in 1957, Enterprise Rent-A-Car has nearly 4,800 offices located throughout the United States, Canada, United Kingdom, Germany and Ireland. Enterprise is the largest rental car company in North America and was named by CIO magazine as one of the "100 Companies Most Likely To Succeed in the Next Millennium." Fortune magazine lauded Enterprise as one of the "100 Best Companies To Work For" in 1999. For the past three years, Black Collegian magazine has ranked Enterprise as the largest recruiter of college graduates among the country's Top 100 Employers.

Enterprise Rent-A-Car

Enterprise Rent-A-Car

Enterprise Rent-A-Car operates more than 878,000 rental and fleet management vehicles worldwide and has annual revenues of $9 billion. Last year, Enterprise opened more than 400 new locations, increasing its total locations to more than 7,000. Enterprise is currently number 21 on the Forbes "500 Largest Private Companies in America" list. The company has been recognized by J.D. Power and Associates as ranking highest in customer satisfaction among airport rental car companies in seven of the last eight years. For more information about Enterprise visit www.enterprise.com.

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