Investing for Success Partners Announce Enhancements to Program

Washington, DC, May 17, 2001 - Investment Company Institute Executive Vice President Julie Domenick announced at the ICI's General Membership Meeting enhancements to the Investing for Success partnership, a national investor education program aimed at promoting greater awareness about the benefits of long-term investing for middle-income African Americans.

Investing for Success began in May 2000 as a partnership between the National Urban League and the Investment Company Institute Education Foundation.

Video excerpts for Ms. Domenick's remarks are linked below.

About the Program . . .

Text of video clip [Julie Domenick, ICI Executive Vice President]:

"One year ago at this meeting, I announced that the ICI Education Foundation had joined hands with the National Urban League, one of the nation's most respected organizations, to launch the Investing for Success partnership. Our goal was ambitious. Research told us that an ‘investment knowledge gap’ existed between African Americans and the U.S. population as a whole. Through a series of educational workshops, the Investing for Success partnership aimed to strengthen the understanding among African Americans of opportunities to invest and build wealth.

We began our program in cities across America with our first Investing for Success workshop in Philadelphia on September 26. We have since conducted workshops in Los Angeles, Houston, Boston, New York, and Seattle, and returned to Philadelphia, and Boston. Each event was made possible by the enthusiastic support of ICI members who cosponsored the events with local National Urban League affiliates in each city. … Seven more workshops are scheduled this summer and fall in Washington, DC, Baltimore, Chicago, San Francisco, Kansas City, Miami, and Atlanta. By all measures, the 'Investing for Success' partnership is succeeding."

Extending the Reach of the Program . . .

Text of video clip [Julie Domenick, ICI Executive Vice President]:

"We are making a difference. But we want to extend the program's reach. As the Investing for Success partnership enters its second year, I would like to announce several enhancements to the Investing for Success program.

First, the National Urban League and the ICI Education Foundation are delighted to welcome the Coalition of Black Investors–Investment Education Fund to the Investing for Success partnership. COBI has a large and active membership and is nationally recognized as the principal association for individual African-American investors.

Second, we plan to extend the reach of the Investing for Success program by conducting them at large conferences sponsored by major African-American organizations.

Third, I am pleased to announce we are taking Investing for Success online. This morning, the partnership launched an interactive version of the 'Investing for Success' workshop. This educational web-based program is designed for those who cannot attend a workshop or who live in areas where workshops have not been held and for those who simply want to review the workshop's contents."