A.G. Edwards Announces 'Nest Egg Knowledge for Kids' Initiative, Grants Half-Million Dollars to Create Financial Literacy Programs at U.S. Children's Museums

Business Wire, April 24, 2006

ST. LOUIS -- Seventeen Individual Grants Will Help Museums Teach Youth Across the Country About Saving, Spending and Financial Responsibility

Only about one in four U.S. children (27 percent) have learned about saving and investing through their schools, according to parents polled in the recent Nest Egg Score Survey commissioned by A.G. Edwards (NYSE: AGE) and conducted by Harris Interactive(R). And according to that same survey, more than half of U.S. parents with children in the home (56 percent) have not discussed saving or investing with their children.

That's why amidst recent reports of negative savings rates and record levels of personal debt, and in conjunction with National Financial Literacy Month, A.G. Edwards, one of the nation's leading financial services providers, is teaming with children's museums nationwide to enhance financial literacy among American youth.

Today, at the Association of Children's Museums' annual conference held in Boston, officials from A.G. Edwards announced that the firm has awarded grants totaling a half-million dollars to 17 children's museums nationwide as part of its new "A.G. Edwards Nest Egg Knowledge for Kids" initiative. The grants will help fund unique educational programs at each of the 17 museums to teach children the concepts of earning, budgeting and saving money.

"Financial literacy is critical for young people to help them understand not only the importance of planning for everyday expenses and near-term needs, but also the need to save and invest wisely for their future," said Robert L. Bagby, chairman and chief executive officer of A.G. Edwards. "At A.G. Edwards, we embrace our role of providing sound financial advice to our clients, and we believe strongly in the importance of teaching kids about financial responsibility and savings early in life. We're pleased to do our part to provide financial education for the next generation of investors."

The 17 grant recipients are:

--Boston Children's Museum (Boston, Mass.)

--The Children's Museum of Cleveland (Cleveland, Ohio)

--Children's Museum of Houston (Houston, Texas)

--The Children's Museum of Memphis (Memphis, Tenn.)

--The Children's Museum in Oak Lawn (Chicago, Ill.)

--Children's Museum of Richmond (Richmond, Va.)

--The Children's Museum of Seattle (Seattle, Wash.)

--Cinergy Children's Museum, Cincinnati Museum Center (Cincinnati, Ohio)

--Fort Worth Museum of Science and History (Ft. Worth, Texas)

--Garden State Discovery Museum (Cherry Hill, N.J.)

--Imagine It! Children's Museum of Atlanta (Atlanta, Ga.)

--The Iowa Children's Museum (Coralville, Iowa)

--Kidspace Children's Museum (Los Angeles/Pasadena, Calif.)

--The Magic House, St. Louis Children's Museum (St. Louis, Mo.)

--Miami Children's Museum (Miami, Fla.)

--Port Discovery, the Children's Museum in Baltimore (Baltimore, Md.)

--Stepping Stones Museum for Children (Norwalk, Conn.)

The 17 participating children's museums open their doors to a total of approximately 5 million visitors annually and offer nearly 750,000 square feet of exhibits and play space that provide an entertaining environment in which to learn. While following general guidelines from A.G. Edwards to create a sound financial education program, each museum will tailor its program to meet the needs of its particular community. The "A.G. Edwards Nest Egg Knowledge for Kids" initiative is modeled after the firm's longstanding support of the successful "Money Doesn't Grow On Trees" program at The Magic House, St. Louis Children's Museum. That program helps students make connections between everyday living and finances through interactive games and role-playing. Students are given jobs, earn paychecks, make purchasing decisions and learn how to save money for longer-term financial goals.

"The positive feedback we've received from the museums about this initiative is encouraging and makes us confident it will be well-received," says Justin Gioia, vice president, director of investor relations and corporate giving for A.G. Edwards. "As we continue to be a proud sponsor of the 'Money Doesn't Grow on Trees' program in our hometown of St. Louis, we're now pleased to be a part of several new financial literacy programs at children's museums across the country. Children's museums are a great resource for today's youth, and their involvement in their respective communities will allow this program to reach the broadest possible audience."

A.G. Edwards announces the new campaign at a time when financial education initiatives for youth are clearly needed. According to the Nest Egg Score Survey, only slightly more than half of parents with children aged 6 to 17 (57 percent) have discussed savings or investing with their kids. Most frequently, these parents cite age as a factor: 40 percent consider their children too young to understand. Yet a recent National Endowment for Financial Education symposium concluded that financial literacy is a lifelong process and reaching youth is critical, "the sooner the better."