BOCA RATON, FL (June 29, 2005) - Florida Atlantic University (FAU) received a $5 million gift from Barry Kaye, an innovative expert in the life insurance industry, for the establishment of the Barry Kaye School of Finance, Insurance, and Economics in the College of Business, as well as the "Barry Kaye Endowed Fund" to support the School. This $5 million gift is eligible for a match by the state, possibly totaling its value to $10 million.

"Mr. Kaye's generous gift will allow FAU's College of Business to continue its move to become one of the premiere business institutes in the nation," said FAU President Frank T. Brogan. "Not only will this benefit FAU's student community from an academic standpoint, but the School will also provide important programs for the community by way of seminars, lectures and the continuing education program."

The Barry Kaye School will bring together the major academic and professional components of the financial services industry, including banking and financing, financial planning, real estate, stock brokerage, insurance, and financial and economic analysis. In addition to the School delivering traditional degree programs to undergraduate and graduate students, it will also host a continuing education component to assist the community in meeting the challenges of the global financial management industry.

The Barry Kaye School will house a number of components, including -

· Barry Kaye Institute of Insurance in Philanthropy - a program dedicated to the development and dissemination of research and information on insurance as a vehicle for financial planning and philanthropy serving scholars and professionals alike

· Barry Kaye Professor - a senior faculty position that will provide academic leadership in the field of insurance and financial planning

· Barry Kaye Hall - the former "Business East" hall will serve as the main administrative building for the College and will house faculty offices and a large lecture hall for the School

· Annual Lecture Series - a lecture series focusing on various topics relating to insurance and philanthropy of interest to students and professionals.

"This is a very important and exciting moment in my life. An opportunity to further the professionalism of the life insurance industry, educate and benefit the public and professionals alike as well as enhance the growth and vision of Florida Atlantic University," said Barry Kaye.

Kaye, originally from New York, began his career as a radio and television personality. In 1962, he joined New England Life as an insurance agent where he broke the life insurance industry sales record for a first year agent. Today, he is now known to be the #1 insurance salesman in the country. Kaye is the author of many best selling books and videotapes, including "Save a Fortune on Your Life Insurance," "Save a Fortune on Your Estate Taxes," "Die Rich and Tax Free," "Live Rich" and "The Investment Alternative." He has been featured in many news articles, radio and television shows.

In addition, Kaye has served on a number of boards. He was the founder of Wealth Creation Centers, a new concept for wealth creation and preservation. Kaye served on the California Senate Advisory Commission on Life Insurance. Also, he is listed in Who's Who in America, Who's Who in the West, and Who's Who in Finance and Industry.

"Mr. Kaye is a visionary. Giving faculty and students the opportunity to benefit from his innovative thinking, creativity and energy is a wonderful side benefit to this gift," said J. Dennis Coates, interim dean of FAU's College of Business.