[19 July 2006]
Wharton GFA announces research partnership with SMU

Research relationship to generate knowledge of direct relevance to major family enterprises in Asia and worldwide

PHILADELPHIA, PA, July 19, 2006 - The Wharton School of the University of Pennsylvania announced that the Wharton Global Family Alliance (Wharton GFA) has joined in a research partnership with Singapore Management University (SMU), one of the leading business universities in Asia. The partnership will lead to the development of high level research, thought leadership and a major curriculum of study related to family business governance, wealth management, and philanthropy.

By joining with SMU, Wharton GFA now has research capabilities on three continents-North America, Europe and Asia -for its studies of family business issues. Recently Wharton GFA announced research partnerships with SDA Bocconi School of Management and IESE two of the leading business schools in Europe . In addition, Wharton GFA is working with two not-for-profit family business associations-- Associazione Italiana delle Aziende Familiari (AIdAF) in Italy and Instituto de la Empressa Familiar (IEF) in Spain. Formed in partnership with CCC Alliance, the leading US family office consortium, the Wharton Global Family Alliance also has ties with such partners as the Wealth and Giving Forum, a peer network of private philanthropists.

"We are very pleased that SMU has joined us in this partnership. We look forward to SMU faculty providing unique insights from Asia that will inform the research of the Wharton Global Family Alliance network of scholars and, in turn, offering lasting value to family business practitioners around the world," said Prof Raphael (Raffi) Amit, Chairman of the Wharton GFA Executive Committee.

Prof Amit and his fellow Wharton GFA faculty research committee members are studying such topics as corporate governance, succession, wealth management and societal wealth generation through philanthropy. By joining with SMU and other global research partners, Wharton GFA further facilitates the dialogue between academia and leading families throughout the world. These efforts have already resulted in scholarship - including scholarly papers and case studies - that, in turn, spur new insights into family business.

"With this agreement, SMU deepens its ties to the Wharton School and reinforces its dedication to studying critical issues that are affecting the global economy. With our expertise in wealth management, especially in the Asian context, SMU can provide valuable research collaboration with the entire Wharton GFA network," said Prof Howard Hunter, President of SMU.

The Wharton School has strong ties to SMU. Wharton GFA Research Faculty Research Committee Member Janice Bellace, now Deputy Provost of the University of Pennsylvania, served as SMU's founding president. Prof. Amit presided as Chief Judge of SMU's Lee Kuan Yew Global Business Plan Competition. In addition, the two institutions conduct joint research under the umbrella of the Wharton-SMU Research Center.

The research partnerships are intended as a first step with the expectation among all parties that collaborative activities have great potential to deepen in the months and years ahead.

About the Wharton Global Family Alliance and the Wharton School

The Wharton Global Family Alliance ("Wharton GFA") is a private forum for global families that control substantial enterprises and resources to engage with leading faculty researchers at the Wharton School of the University of Pennsylvania. The mission of the Wharton Global Family Alliance is to enhance the marketplace advantage and social wealth creation contributions of global families through thought leadership, knowledge transfer, and the sharing of ideas and best practices. Wharton GFA focuses its research in key issues affecting family businesses research in the areas of wealth management, philanthropy, and family business governance, combining two highly credible and complementary sources of insight - practical expertise of highly successful global families and rigorous scholarly analysis from Wharton faculty.

The Wharton School of the University of Pennsylvania - founded in 1881 as the first collegiate business school - is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The school has more than 4600 undergraduate, MBA, executive MBA, and doctoral students; more than 8,000 annual participants in executive education programs; and an alumni network of more than 81,000 graduates. The Wharton School at 125: www.wharton.upenn.edu. For more information on the Wharton GFA, visit http://wgfa.wharton.upenn.edu.