media release

Million Dollar Fund Distributed

The USD 1 million fund set up by Akzo Nobel after the atrocities of September 11 has now been awarded to a number of charitable organizations.

The USD 1 million fund which Akzo Nobel set up in the immediate aftermath of last September’s terrorist attacks on the United States has now been distributed.

The fund—established to help families of the victims of the September 11 atrocities—was managed by the President of Akzo Nobel Inc in the U.S., Conrad Kent, and it has now been shared out among a number of deserving organizations.

Fifty percent of the total has been donated to the Families of Freedom Scholarship Fund, a bipartisan fund co-chaired by former U.S President Bill Clinton and former U.S. Senator Bob Dole. This particular charity aims to raise up to USD 100 million for scholarships which will allow children of World Trade Center victims to pursue higher education.

Another 35 percent of the Akzo Nobel fund was awarded to an outreach program for children left orphaned or with only one parent. This money—which will also be used to help families among the less-advantaged groups who were affected—was donated through the Netherlands American Community Trust, a charity group supported annually by Akzo Nobel in the U.S.

Additional sums were also given to already established funds that support widows and children of New York City police and fire personnel.

The donations were made after consulatation with Akzo Nobel's U.S. employees, who were invited to submit ideas as to where the money should be awarded.

(Released: January 4, 2002)