PHILLIP AND PATRICIA FROST MAKE LEAD GIFT TO THE CAMPAIGN FOR

 THE UNIVERSITY OF MIAMI SCHOOL OF MUSIC

The University of Miami announced on Thursday night, October 16, 2003, at its official campaign launch that its School of Music has received a $33 million gift from philanthropists Dr. Phillip and Patricia Frost. The gift, which will name the School in their honor, is one of the largest gifts from an individual received by UM and is the largest ever made to a university-based music school in the United States.

"The arts play a vital role in the life of a community, and music in particular is a unifying force that transcends age, race, and culture. Miami is our home, and Patricia and I wanted to create a legacy that would enhance and sustain the school's important work," said Dr. Phillip Frost, chairman of the University's Board of Trustees and chair of Momentum: The Campaign for the University of Miami.

The Frosts are well known throughout the community for their generous support of education and the arts. Dr. Frost is chairman and CEO of IVAX Corporation, a Miami-based, publicly traded, multinational pharmaceuticals company. Mrs. Frost is a retired educator who served for more than 20 years as principal of West Laboratory Elementary School located adjacent to UM's Coral Gables campus. Mrs. Frost is also the chairman of the Smithsonian National Board and the Commissioner Emeritus of the Smithsonian American Art Museum, a member of the Florida International University Board of Trustees, and past chair of the Florida International University Foundation.

"The University has  shown the community its commitment and leadership in the arts by positioning the School of Music as a premier institution in which so many young people have gained a love of music. It is our great joy to be able to repay a small part of our great indebtedness to this community," said Mrs. Frost.

In 1989, the Frosts established three endowments in the School of Music: the Abraham Frost Commission Series, which funds the commissioning of new works by notable composers in memory of Dr. Frost's father; the Anna Frost Music Scholarship in memory of Dr. Frost's mother; and the Patricia L. Frost Professorship in Music, occupied by the dean of the School.

The announcement coincides with the public launch of the billion-collar Momentum campaign, the. first fundraising campaign of this magnitude in the State of Florida.