May 1, 2002

The Benefit Fund Provides Assistance to Families of New York's Fallen Finest and Bravest

New York, May 1, 2002 - The events of September 11 inspired unmatched acts of heroism by New York City Fire and Police Department professionals. In response, generous individuals and corporations from around the world have answered an urgent call for assistance.

Founded in 1985, the New York Police & Fire Widows' & Children's Benefit Fund is a non-profit organization that assists over 720 families of fallen New York City firefighters, police officers and emergency medical service personnel and Port of New York and New Jersey police officers. The Benefit Fund provides funds to families at the time of a death to assist with immediate expenses. In addition, the Benefit Fund distributes an annual check to each of the surviving families.

During the past seven months, the Benefit Fund has received over 100,000 contributions totaling over $112 million. The Benefit Fund has distributed over $44 million of such funds to date, including $100,000 to each of the September 11 widows and $30,000 to each of the "historical" widows that the Benefit Fund supports. The Benefit Fund is expected to make an additional distribution to each of the surviving widows later this year. The balance of the funds will be invested so as to be paid over seven years. Additionally, after April 1, 2002, the Benefit Fund has increased its death payment from $10,000 to $25,000.

Stephen J. Dannhauser, Executive Partner of the law firm Weil, Gotshal & Manges LLP and President of the Benefit Fund said, "Since September 11, the noblest of human responses - unbounded generosity, unmatched resolve and unwavering support for those in need - have flourished in the face of despicable evil. The generous support of so many people around the world will enable us to help the families, whose loved ones paid the ultimate sacrifice."

Former baseball great, the Benefit Fund's founder and Chairman, Daniel J. "Rusty" Staub said, "Words cannot adequately express our appreciation for the overwhelming number of letters and messages which we have received. Our obligation to the widows, widowers and children has significantly increased in recent months. The New York Police & Fire Widows' & Children's Benefit Fund will continue to serve these families in their immediate need, and through our annual offerings, we will continue to support them in remembering their loved one's sacrifice."