WPI Names New Chairman of the University

Contact: WPI Media Relations, 508-831-5706

Worcester, Mass. - April 16, 2003 - The Worcester Polytechnic Institute (WPI) Board of Trustees has elected F. William Marshall Jr. as the universityís 18th chairman. A banking industry leader, Marshall has been a member of WPIís Board of Trustees since 1986. The board was created in 1865, the year WPI was founded.

As chairman, Marshall will lead WPIís 40-member Board of Trustees in its role as the owner and overseer of the university. As a group and through its committees, the board sets the direction and policies for the university, with current special initiatives including a $150 million capital campaign, a new marketing initiative, and the development of a new master plan for the university.

"Bill Marshall is the perfect choice to lead WPI during these challenging times," says Edward Alton Parrish, president of WPI. "He is one of our longest-serving board members. He has chaired the investment committee with great success for over a decade, and he has an impressive track record of running successful organizations. I look forward to working with him."

Marshall has more than 35 years of experience in commercial banking in New England. He retired as president and CEO of SIS Bancorp Inc., the holding company for Springfield Institution for Savings and Glastonbury (Conn.) Bank and Trust, which was merged with Bank North Financial Group. Prior to joining SIS Bank in 1993, he was chairman and CEO of Bank of Ireland First Holdings Inc., a holding company for First NH Banks. Before that, he was executive vice president of Shawmut National Corporation in Boston and president and CEO of Shawmut Worcester County Bank. He began his banking career in 1964 at Shawmut Bank in Boston.

Today, Marshall is active as a trustee/director of several corporate and nonprofit boards. He serves as a director of Oppenheimer Funds Inc., Mass Mutual Institutions Funds, MML Series Investment Funds and Springboard Technology Inc. He is also president of the SIS Foundation, as well as a trustee of the Springfield Library and Museums Association and the Springfield Community Music School, among other civic affiliations.

Marshall received his bachelor of science from Washington University in St. Louis, and did postgraduate studies at the Advanced Management Program of the Harvard Graduate School of Business. He resides on Chebeague Island, Maine, and Palm City, Fla.

As chairman of WPI, Marshall joins a select group. The first chairman (then called president) of WPI was Stephen Salisbury II, a prominent Worcester businessman who donated the land for the Institute and provided it much financial support. Salisbury served from 1865 until his death in 1884. His son, Stephen Salisbury III, was WPIís third board chairman, serving from 1895 until 1905. In all, the board has been led by 18 individuals, including three WPI presidents and one acting president (between 1920 and 1953 the president served also as chairman).

About Worcester Polytechnic Institute

Founded in 1865, WPI is a pioneer in technological higher education. WPI was the first university to understand that students learn best when they have the opportunity to apply the knowledge they gain in the classroom to the solution of important problems. Today its students, working in teams at more than 20 project centers around the globe, put their knowledge and skills to work as they complete professional-level work that can have an immediate positive impact on society.

WPIís innovative, globally focused curriculum has been recognized by leaders in industry, government and academia as the model for the technological education of tomorrow. Students emerge from this program as true technological humanists, well rounded, with the confidence, the interpersonal skills and the commitment to innovation they need to make a real difference in their professional and personal lives.

The university awarded its first advanced degree in 1898. Today, its first-rate research laboratories support masterís and Ph.D. programs in more than 30 disciplines in engineering, science and the management of technology. Located in the heart of the regionís biotechnology and high-technology sectors, WPI has built research programs - including the largest industry/university alliance in North America - that have won it worldwide recognition.