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MIT Schools of Engineering, Business receive $2.6 million apiece from Siebel

CAMBRIDGE, Mass; MIT's School of Engineering and Sloan School of Management will each receive $2.6 million from the Siebel Scholars Program plus an annual $25,000 scholarship to be awarded to one student selected by the dean at each school.

The program, announced today at Siebel Systems Inc.'s headquarters in San Mateo, Calif., recognizes outstanding students at 11 prestigious computer science and business schools across the US. It is a part of an educational initiative launched by the eBusiness firm in 1999 to assist institutions that foster academic excellence and leadership to produce the next generation of corporate executives.

"Today, information technology and computation are pervasive and are shaping both engineering and our world in unprecedented ways," said Dean Thomas L. Magnanti of the MIT School of Engineering. "For this reason, we are extremely pleased to be sharing in this generous grant from Siebel Systems. The Siebel Scholars Program not only assists us in expanding fellowship support to our graduate students -- a goal that is very important to us -- but it also encourages outstanding work and leadership by these students to better serve society."

"MIT Sloan's educational mission is to develop effective, innovative leaders who advance the global economy -- leaders who will define tomorrow's best practice and shape emerging industries," said Dean Richard Schmalensee of the MIT Sloan School of Management. "The Siebel Scholars Program will help us recognize these future leaders while providing needed fellowship support."

Other recipients, each of which receives $2.6 million and an annual scholarship, are: Stanford University's Graduate School of Business and School of Engineering; Harvard University School of Business; Carnegie Mellon University School of Computer Science; Northwestern University J.L. Kellogg School of Management; University of California Berkeley School of Engineering: University of Chicago Graduate School of Business; University of Illinois Urbana-Champaign School of Engineering; University of Pennsylvania Wharton School.

"The graduate programs at these universities have made great contributions to industry and society, both here in Silicon Valley and worldwide," said Thomas M. Siebel, chairman and CEO of Siebel Systems. "Siebel Systems wishes to support those efforts on a personal level, and the Siebel Scholars Program is our way of helping develop the talent."

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