Larry Ellison and General Colin L. Powell announce $100,000,000 commitment from Oracle Corporation to America's Promise — Alliance for Youth

Business Wire, June 24, 1997

NEW YORK--(BUSINESS WIRE)--June 24, 1997--

Oracle's Promise Largest Commitment to Date

Larry Ellison Challenges Corporate America to Join

General Powell and America's Promise's Campaign for Youth

Oracle Corporation announced today that Oracle and its Chairman and CEO, Larry Ellison, have committed $100,000,000 to Kindergarten through 12th grade education in support of America's Promise -- Alliance for Youth. In addition, Ellison put forth a challenge to every American corporation and CEO to meet or exceed Oracle's commitment to America's Promise.

Answering a national call to action issued by General Colin L. Powell, President Bill Clinton, and former President George Bush at the President's Summit for America's Future in Philadelphia, PA, Oracle's pledge represents the single largest commitment to the President's Summit and America's Promise -- Alliance for Youth.

Oracle's Commitment to America's Promise includes:

-- $100,000,000 to endow Oracle's Promise, a newly formed foundation, with the guiding mission of placing a network computer on every child's desk in grades K-12 in the United States.

-- Expansion of the California Mentoring Initiative Website to a national application designed to facilitate the growth of mentorship programs throughout the United States.

-- Partnership with the National Mentoring Coalition to mobilize Oracle's U.S. employee volunteers to develop mentoring relationships with economically disadvantaged youth grades 4-12 by the year 2000.

-- Creation of the "Oracle Challenge to Help Us Help" through a national Website application to encourage U.S. corporations and individuals to "adopt" a school, classroom or child.

"America's Promise is honored to accept the Oracle Corporation commitment," said America's Promise Chairman, General Colin L. Powell. "We are deeply grateful that Oracle is determined to provide every classroom and child in America access to the Internet. Bridging the digital divide that exists between our nation's `haves' and `have nots' is critically important to preparing all children for success in the information age."

"Personal Computers (PCs) are in only 30% of American households. You can't have an Information Age with 70% of America's families and their children disenfranchised. The private sector must do more to ensure that all young people have the resources they need to fulfill their potential," said Mr. Ellison. "The Information Age can rescue our schools. But we need a computer that is affordable and easy to use, so that every child can have a computer. Today's costly PC is creating a society of haves and have-nots."

America's Promise -- Alliance for Youth is a multi-year, national campaign to carry out the goals and commitments made at the Presidents Summit for America's Future, held April 27-29, this year in Philadelphia, PA. America's Promise believes that America's young people must have access to five fundamental resources that can help them lead healthy, fulfilling and productive lives:

-- An ongoing relationship with a caring adult of mentor;

-- Safe places to learn and grow;

-- A healthy start;

-- A marketable skill through effective education; and,

-- An opportunity to give back through community service.

To date, more than 250 corporations and volunteer organizations have joined on to America's Promise -- Alliance for Youth. Commitments must either directly provide services or funding to meet one or more of the Summit goals at the national, regional, state and/or local levels. Each commitment is required to meet the following criteria:

-- A commitment must address at least one of the five resources, or support the operational needs for implementing its goals

-- A commitment's impact must be quantifiable and measurable

-- A commitment must be stated in writing and include a brief explanation of how it will be achieved

-- A commitment must go beyond what the organization has already undertaken or planned.

"The President's Summit galvanized corporations and organizations across the country into action," said General Powell. "People have recognized the Summit to be this generation's window of opportunity to make a difference for the future of our children and our communities. That is creating a snow-ball effect, as more and more corporations and organizations come on board."

Corporations and organizations wishing to make commitments to America's Promise -- Alliance for Youth or Oracle's Promise should contact Sarah Ross at (703) 684-4500, ext. 139.

CONTACT: Tim Hanlon

Sarah Ross

703-684-4500