21 Distinguished Academics Appointed ECGI Inaugural Fellows

Brussels, 16 July 2002. The European Corporate Governance Institute (ECGI) today announces the appointment of 21 inaugural Fellows of the Institute drawn from academia in Europe and North America. These inaugural Fellows were nominated by the ECGI's Fellowship Committee chaired by Professor Bengt Holmström, Paul A Samuelson Professor of Economics, Department of Economics and Sloan School of Management, MIT.

The ECGI, which was founded this year, is an international scientific non-profit association. It provides a forum for debate and dialogue between academics, legislators and practitioners, focusing on major corporate governance issues and thereby promoting best practice.

Its primary role is to undertake and disseminate impartial and objective research on corporate governance and undertake any other activity that will improve understanding and exercise of the highest standards in corporate governance.

ECGI Fellows will provide intellectual leadership and inspiration for the Institute as it seeks to achieve its aims. The list of inaugural Fellows is shown below.

NOTES FOR EDITORS

1. Members of the ECGI's Fellowship Committee are: Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University; Marco Pagano, Professor of Economics, Università di Salerno; Roberta Romano, Allen Duffy/Class of 1960 Professor of Law, Yale Law School; and Jean Tirole, Scientific Director of the Institut d'Economie Industrielle, University of Social Sciences, Toulouse.

2. The Fellowship Committee was appointed by the ECGI board. The Committee will consider future nominations for ECGI Fellows on an annual basis, starting in 2003.