The New York Times Company Foundation Releases Special 12-Month Report On The Times's 9/11 Neediest Fund

Business Wire, Sept 5, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 5, 2002

The New York Times Company Foundation today announced that it will issue a 12-month report to the public in connection with its administration of The New York Times 9/11 Neediest Fund.

Since the publication of the Foundation's annual report, the 9/11 Neediest Fund made $1,494,479 in new grants and has received $1,586,430 in new contributions. New grants include the creation of a Community Recovery Center for lower Manhattan, support for Columbia's Oral History project on 9/11, a counseling retreat program for firefighters and spouses and a program to identify and counsel parents with very young children suffering from 9/11 shock. Detailed description of all grants will be presented as a section of the Foundation's Web site, www.nytco.com/foundation, on September 6.

The 9/11 Neediest Fund was established on September 12, 2001 and, as of this week, received 66,477 contributions totaling $61,042,222 from around the country and abroad.

"We are pleased to tell our contributors and Times readers that we have disbursed or committed virtually all the funds, 99 percent, in direct aid and multiple services to people whose lives have been torn apart by 9/11," said Jack Rosenthal, president of the Foundation and of The New York Times Neediest Cases Fund. "We also want to express our gratitude to the contributors whose generosity has given help and hope to thousands of victims."

About $42 million has been distributed for direct aid through seven social service agencies and three foundations representing uniformed services. The seven social service agencies are: the Brooklyn Bureau of Community Service; Catholic Charities of the Archdiocese of New York; Catholic Charities, Diocese of Brooklyn and Queens; the Children's Aid Society; the Community Service Society of New York; UJA-Federation of Jewish Philanthropies of New York; and the Federation of Protestant Welfare Agencies, Inc. The three foundations representing the uniformed services and other emergency services are the Fire Safety Foundation, the Police Foundation and the John Jay College of Criminal Justice Foundation.

The 9/11 Neediest Fund has distributed about $20 million, in 58 grants, to create or support services to assist survivors, schoolchildren, low-income workers and others affected by the terrorist attacks. These grants are focused on four initiatives: job rescue, trauma treatment, school support and legal service.

The report is available by calling 212-556-1091 and it will be posted on www.nytco.com/foundation on September 6.

The New York Times Company (NYSE: NYT), a leading media company with 2001 revenues of $3.0 billion, publishes The New York Times, The Boston Globe and 16 other newspapers; owns eight network-affiliated television stations and two New York radio stations; and has more than 40 Web sites, including NYTimes.com and Boston.com. In 2002 the Company was ranked No. 1 in the publishing industry in Fortune's list of America's Most Admired Companies. Among all 530 companies on the list, the Company ranked No. 1 in quality of products/services and No. 1 in social responsibility. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.