Monday, February 7, 2001 Contact: Janet Kessin

Chairman of Caxton Corporation Also Has Chaired the $100 Million Campaign for Juilliard
Since Its Planning Began in January 1997

Composer and Author Mary Rodgers Guettel to Step Down as Chairman as of May 2001

The Juilliard School announces that Bruce Kovner, Founder and Chairman of Caxton Corporation, and a Juilliard board member since 1995, becomes Chairman of its Board of Trustees as of May 2001. Mary Rodgers Guettel, Chairman of the Board since 1994, has announced that she will step down from her position at that time; she continues as a Trustee of the School. Mr. Kovner has been Chairman of the $100 Million Campaign for Juilliard, since its planning began in January 1997. The Campaign is dedicated to enhancing student financial aid and faculty compensation, and developing school-wide programs preparing Juilliard students for the demands of the twenty-first century.

Bruce Kovner is founder and Chairman of Caxton Corporation, a trading company, and manager of hedge funds active in currency, interest rate, petroleum, commodity, and equity markets. Formerly, he was Senior Vice President of Commodities Corporation, an international commodities trading firm.

Mr. Kovner was born in New York City and attended public schools in New York and Los Angeles. He received his Bachelor of Arts degree from Harvard College in 1966 and continued his studies at the John F. Kennedy School of Government until 1970.

From 1970 to 1976, Mr. Kovner did consulting work for the United States Congress, the National Science Foundation, the Council of Environmental Advisors for the State of New York, and the Fels Center of Government at the University of Pennsylvania, where he lectured on city politics and public policy problems. During this time he published articles in Public Interest, Commentary, and New York on public policy, music, and other subjects. In 1977 he joined Commodities Corporation in Princeton, New Jersey, as a vice president, leaving in 1983 to form Caxton Corporation.

Mr. Kovner is founder and Chairman of the School Choice Scholarships Foundation, which provides scholarships to low-income students from New York City to attend primary schools of their choice. In addition to Juilliard, he also is a member of the boards of the American Enterprise Institute, the Manhattan Institute, the Philharmonic-Society of New York, and the Thomas B. Fordham Foundation.

Mr. Kovner and his family divide their time between homes in Manhattan and Dutchess County, New York.

According to President Joseph W. Polisi, "Juilliard is extraordinarily fortunate to have Bruce Kovner's leadership as the School addresses our future challenges. As Chairman of The Campaign for Juilliard, Bruce has been instrumental in developing strategies that directly impact the most important elements of the institution: our students and faculty, and our artistic and educational programs. His vision for the School insures that Juilliard will continue its tradition of excellence into the new millennium. All of the members of the Juilliard community also wish to express our deep gratitude to Mary Rodgers Guettel, whose chairmanship was a time of exceptional vitality and advancement for the School. Her love of Juilliard and its people has endeared Mary to us all. We will happily continue to be enlivened by her humanity and wit as she remains an integral part of the Board of Trustees in the years ahead."

Composer and author Mary Rodgers Guettel, was appointed Chairman of The Juilliard School Board of Trustees in May 1994, after having been a member of Juilliard's Board since 1992, and Vice-Chairman since September 1993. She brought energetic leadership to the planning stages and first two years of The Campaign for Juilliard, and has helped in raising significant support for new student scholarships and other important Campaign initiatives. She works actively to recruit new members to the Juilliard Council and the Ovation Society, and to increase Juilliard's national support and visibility. As Vice President of The Rodgers Family Foundation (her father is Juilliard alumnus Richard Rodgers) she has contributed generously to the Richard Rodgers Memorial Fund Scholarship in Drama and the Richard Rodgers Scholarship in Composition. Her Family Foundation's $1 million challenge grant to The Campaign for Juilliard will be used as the basis to establish and endow The Richard Rodgers Directorship of the Drama Division. Known for her wit and spontaneity, Mary Rodgers Guettel is familiar with and well liked by the young artists studying at Juilliard.

Commenting on the appointment of Mr. Kovner, Mrs. Guettel said, "It is wildly appropriate for someone as brilliant at Bruce Kovner to be The Juilliard School's Chairman of the Board of Trustees. There aren't enough laudatory adjectives in Roget's Thesaurus to describe Bruce. He's a genius of a fundraiser, and a passionate and informed advocate of the arts, attending more concerts and theater performances in a year than most people do in a lifetime. He's been incredibly generous to us with his time and his money.a great big gentle bear of a guy with a razor-sharp mind and a warm heart. I adore him. So will everyone else. Juilliard has lucked out."

The Juilliard School was founded in 1905 as the Institute of Musical Art. As America's preeminent school for the performing arts, Juilliard has educated thousands of aspiring artists from around the world in the fields of music, dance, and drama, and has expanded its mission to instill a strong sense of activism and arts advocacy in its students.

In addition to its college programs, Juilliard offers graduate and pre-college training in music as well as a continuing education program for adults; community outreach programs for New York City metropolitan-area students, and specialized music training for children from under-represented populations. The School's newest program of study - in jazz - begins in the fall of 2001, with the creation of the 18-member Juilliard Jazz Orchestra. Juilliard performers present dozens of free concerts in public spaces throughout New York, and more than 650 free performances at their Lincoln Center home each season. Juilliard alumni are working artists who carry with them the highest standards of their profession throughout the world.