Anne and Kenneth Griffin to Invest $10 Million to Lead Innovative, Multi-Year Study to Improve Education in the United States

Anne and Kenneth Griffin to Invest $10 Million to Lead Innovative, Multi-Year
Study to Improve Education in the United States
Contribution to Serve Thousands of Students; Establishes The Griffin Early
Childhood Center in Chicago Heights, Ill.

CHICAGO, Oct. 8 /PRNewswire/ -- Anne and Kenneth Griffin announced today that
they have donated $10 million to fund a multi-year initiative to identify
programs and strategies for improving student education in America's schools.
The Griffin Foundation contribution, which is through the University of
Chicago and Harvard University, will partner the world's preeminent education
scholars with teachers, parents and students in an innovative, metrics-based
program in Chicago Heights, Ill. Research generated from this initiative has
the ability to impact education from pre-school through high school
graduation, and improve student outcomes for millions of American children.

To create and lead this program, the Griffins have brought together
world-renowned scholars from the University of Chicago and Harvard University.
Leading the program are: John List, Professor of Economics, and Steven Levitt,
William B. Ogden Distinguished Service Professor of Economics, both with the
University of Chicago; and Roland Fryer, Robert M. Beren Professor of
Economics and Faculty Director of the Education Innovation Laboratory at
Harvard University.

Arne Duncan, U.S. Secretary of Education and a former CEO of the Chicago
Public Schools, has worked extensively with the Griffins in their efforts to
support and improve public education: "Preparing our students to compete in a
global economy is a tremendous challenge which will require tremendous
partners," said Secretary Duncan. "The Griffin Foundation is bringing many of
these partners together on a local level to identify best practices and
programs in education."

Pre-School Programs

-- The Griffin Early Childhood Center will be established for up to 250
pre-school students from Chicago Heights. Students will be admitted
through a lottery system and will attend the school at no cost.

-- Up to 400 parents of pre-school-aged children not chosen for the
in-classroom program will be eligible for short- or long-term
financial
incentives which are directly related to their involvement in their
child's education and development. Elements of the program include
attendance at monthly meetings that focus on best-parenting practices
and child development, completion of parent-child homework exercises
and
participation in school-affiliated health and wellness programs.
Incentives will include monthly payments as well as the establishment
of
college investment funds.

-- Each program will track and assess the academic success of
participating
students through the time of their high school graduation, in an
effort
to measure which early approaches have the most impact and provide the
greatest benefit. This research will provide measurable data to help
understand how different approaches impact future academic success.

"We are committed to innovative education initiatives that help us learn how
we as a country can better educate and serve our children," said Kenneth
Griffin, who leads The Griffin Foundation with his wife, Anne. "By working
closely with the Chicago Heights School District and a preeminent team of
scholars, we have an opportunity to positively impact relationships between
parents, students and educators, and gain valuable knowledge that can impact
education on a national scale."

"We are very fortunate to bring together a dedicated team of scholars and
educators who share our commitment to improving education," said Anne Dias
Griffin. "Our hope is that this highly collaborative initiative will lead to
tangible benefits for students in Chicago Heights and beyond."

K-12 Programs

-- The Griffin Foundation investment will also support ground-breaking
research to improve K-12 education, including teacher incentives tied
to
student performance, and incentives for academic mentoring between
students. The research will assess the effectiveness of teacher
pay-for-performance plans in furthering student achievement.

"While there are a number of important efforts to support early childhood
education, this program is unique because it provides a flexible environment
in which to build a knowledge-base of the critical elements that children need
in early education for short- and long-term success," said Professor List of
the University of Chicago. "The program will focus on creating the best
learning environment, understanding the important role that parents play in
student success and exploring the effectiveness of teacher pay-for-performance
plans."

Professor Fryer of Harvard University said, "In order to best serve the next
generation and help guide the enormous resources invested in early childhood
education, we must identify what practices and programs work best and why.
Gathering measurable, actionable insight is our goal with this innovative
program."

Following an in-depth evaluation of various sites throughout the Chicago
metropolitan area, Chicago Heights was chosen as providing the ideal location
for the initiative, on the basis of Chicago Heights' need for a high-quality
pre-school facility and diverse demographics as well as strong support in the
community for educational reform initiatives. The Griffin Early Childhood
Center will be located at both Highland School and Washington-McKinley
Elementary School. The faculty will be composed of existing teachers from the
Chicago Heights School District and new hires.

"We are incredibly excited and thankful for this opportunity, which will
benefit both our school district and the Chicago Heights community by
broadening educational opportunities for our students," said Mr. Tom Amadio,
Superintendent of the Chicago Heights School District. "We look forward to
working closely with The Griffin Foundation as well as with Professors John
List, Steven Levitt and Roland Fryer and their teams in finding tangible ways
to close the achievement gap."

The programs are expected officially to launch in September 2010.

About The Griffin Foundation
The Griffin Foundation was established in 2009 by Anne and Kenneth Griffin.
Leaders in the global financial community, Mr. Griffin is the founder of
Citadel and Mrs. Griffin is the founder of Aragon Capital Management, both
headquartered in Chicago. The Griffin Foundation is a non-profit
organization that builds on the Griffins' past philanthropic investments, with
a focus on education, science and the arts. The Griffin Foundation creates and
funds innovative programs with an emphasis on attempting to find solutions to
society's greatest challenges. Min Lee serves as Director of The Griffin
Foundation.

Media Contacts:
-- The Griffin Foundation: Katie Spring, 312.395.2596,
katie.spring@citadelgroup.com

-- Chicago Heights School District: Tom Amadio, 708.756.4165,
Tamadio@sd170.com

SOURCE The Griffin Foundation

Media, Katie Spring of The Griffin Foundation, +1-312-395-2596,
katie.spring@citadelgroup.com; or Tom Amadio of Chicago Heights School
District, +1-708-756-4165, Tamadio@sd170.com