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New Rochelle, New York, September 20, 2000 - Stunning an audience of over 350 people gathered at a Fall Convocation to honor James P. Hynes and his wife, Anne Marie, for their $1.5 million gift for The Hynes Natural Science Center, President James A. Liguori, CFC, announced that the Hyneses have given Iona an additional gift of $8.5 million. Together, these gifts total $10,000,000 - the largest individual gift in Iona's history.

Acknowledging this singular gift, President James A. Liguori, CFC, said, "Jim Hynes is a successful businessman who understands sound investing. He sees Iona as a solid investment and he's already committed his money to the College's infrastructure - the bricks and mortar - that will attract talented, competitive scholars to our campus."

Of the additional $8.5 million, Mr. and Mrs. Hynes have designated $7 million for an Athletics Center to be called the Hynes Athletics Center. This facility is "student oriented," offering recreational and wellness facilities not currently available on campus. It will include both the current Campus Events Center and its planned expansion. This expanded and renovated facility will incorporate a gymnasium with two basketball courts, a crew training tank, an office complex including a conference room, renovated and new cardiovascular and weight training facilities and a new area for the College's Hall of Fame.

The remaining $1.5 million is earmarked for the expansion and renovation of the College's Ryan Library. It is the lead gift in the creation of a 10,000 square foot Pavilion that will house a library technology center.

"For me, it's all about giving back," said Jim Hynes '69, acknowledging the thunderous applause that followed Brother Liguori's surprise announcement. "There's a lot of satisfaction in giving this gift to Iona," continued Mr. Hynes. "I'm a boy from the Bronx who did well. Many people at Iona helped me become who I am today. I want to be able to help others reach for their success."

When asked about the original $1.5 million gift for The Hynes Natural Science Center, Jim Hynes, originally a science major, commented, "You need up-to-date labs, equipment and technology to attract top science students. And, this building isn't just for science majors. We need to make sure that all Iona students are science literate and this gift helps to meet that need."

At the dedication following the Convocation, at which Anne Marie, Jim and Brother Liguori "cut" a large ribbon across the door of Cornelia Hall where The Hynes Natural Science Center is located, Brother Liguori summed up the feelings of the entire College community. "All of us are enriched by the generosity of the Hynes family. It's impact on us now and on future generations is immeasurable."

Mr. Hynes currently serves as a member of the Iona College Board of Trustees where he earned his BA in 1969. He also holds an MBA from Adelphi University. He currently manages his investment business from Connecticut. In his more than 30 years in the telecommunications and technology industries, he achieved outstanding results as an operating manager and in the venture capital business, nationally and internationally. Most notably, in 1992, he founded COLT Telecom PLC, a telecommunications competitor in Europe. He served as its first CEO until the company went public in 1996, when he became chairman.

Among Mr. Hynes's significant investments were Advanced MobileComm which merged into Nextel, the software firm Goetel, acquired by Cisco Systems and Nexabit, bought by Lucent Technologies.

Anne Marie Hynes is the head of the Analysis Group, a consulting firm. She developed her career in telecommunications at New York Telephone and GTE, where she held senior management positions in corporate long-term planning.

Made to the College's capital campaign, Visions Into Reality, the Hynes gift brings the total raised to date to over $40 million. The campaign goal is $55 million.

For questions or more information please contact:
Meghan Finn
Public Relations Office
Iona College, 715 North Avenue, New Rochelle, N.Y. 10801
tel: 914 633-2005 fax: 914 637-2711

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