News Release
at The Chicago Public Education Fund
Amy Kruss, Director of Development & Communications
(312) 558-4503

January 3, 2007

The Chicago Public Education Fund Announces Close of Second Fund - Raises $15 Million; Ken and Anne Griffin Make Closing Investment

CHICAGO, January 3, 2007 - —The Chicago Public Education Fund (The Fund) announced the close of Leadership Fund II today, with commitments of $15 million.

As a venture philanthropy, The Fund serves as a catalyst and strategic investment partner with businesses, foundations, civic and community leaders, and the Chicago Public Schools to invest capital and ideas in high-impact programs that improve school leadership and student achievement system wide.

"We challenged ourselves to meet our $15 million goal by the end of they year," said Fund President, Janet Knupp. "One of our directors, Ken Griffin, surprised with a $675,00 investment and "closed" Fund II. We are so grateful for his most generous gift." With this investment, Ken is joining an impressive list of corporate and civic leaders who have already invested more than $2 million in The Fund, including Penny Pritzker, President & CEO, Pritzker REalty Group and Chairman, Classic Residence by Hyatt, and Bruce Rauner, Chairman, GTCR Golder-Rauner, LLC.

"Education is society's greatest equalizer and every child deserves a strong education," said Ken Griffin, President & CEO of Citadel Investment Group, LLC. "The Fund invests in people and in leaders. I believe that strong leadership is the key leverage point for impacting the entire district."

The Fund will continue to make investments in organizations that support its objectives through April 2008.

Leadership Fund II, a four-year launched in 2004, builds upon the pipeline of quality leaders (teachers and principals) established during Fund I. Fund II investments position teams of leaders with the tools, structures and data they need to improve student performance, provide incentives and rewaqrd results. The theory of change behind Fund II is simple: while talented individual leaders can improve student achievement in individual classrooms, teams of talented leaders can improve student achievement in schools, and ultimately in the district as a whole.

Also, The Fund welcomed two new members to its Leadership Council. Joining the group of corporate and civic leaders is Theresa Davis, a Partner at Katten Muchin Rosenman LLP and a representive from Ventas, Inc.

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As a venture capital fund for public education, The Chicago Public Education Fund is an unprecedented catalyst for improving school leadership and student achievement system wide. Launched by a group of corporate and civic leaders, The Fund brings private sector dollars and expertise to high-impact programs aligned with Chicago Public Schools priorities. Find out more at www.cpef.org.

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