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NEWS RELEASE
Deloitte & Touche Foundation
Awards $200,000 in Fellowships

The Deloitte & Touche Foundation announced the ten recipients of its 1998 Doctoral Fellowship in Accounting Awards. Following a 40-year tradition, these honorees were selected from accredited graduate programs across the county, to receive $20,000 each over a two-year period toward a doctoral degree in accounting

"At Deloitte & Touche, we believe that recognizing and rewarding talent is key to success," said J. Michael Cook, Chairman of the Deloitte & Touche Foundation, and Chairman and Chief Executive Officer of Deloitte & Touche. "These students exemplify the dedication, initiative and ability needed for further accounting study that will ultimately benefit academia and our profession. They are certainly deserving of this honor."

The 1998 Deloitte & Touche Doctoral Fellows are:

Anne M. Farrell Michigan State University
Leslie D. Hodder University of Texas at Austin
Philip Joos Stanford University
F. Asis Martinez-Jerez Harvard University
Wilhelmina J. Pizzini University of Pennsylvania
David W. Randolph Indiana University
Susan Z. Shu University of Rochester
Linda A. White University of Michigan
T. Jeffrey Wilks Cornell University
Susan M. Young University of Southern California

The recipients were selected by an independent committee of distinguished educators: Robert W. Holthausen, University of Pennsylvania; William R. Kinney, University of Texas at Austin; and Douglas A. Shackelford, University of North Carolina at Chapel Hill.

"Deloitte & Touche's annual Doctoral Fellowship awards program is one of the most important in terms of advancing doctoral education in accounting," said Professor Shackelford. "It certainly recognizes some of the finest doctoral candidates in America."

Since 1956, the Deloitte & Touche Foundation has offered more than 900 Doctoral Fellowships to graduate students successfully pursuing doctoral degrees in accounting at accredited universities. Applications for 1999 Doctoral Fellowships are available from the Deloitte & Touche Foundation, Ten Westport Road, Wilton, Connecticut 06897, or through the accounting department at accredited universities nationwide. The Deloitte & Touche Foundation is funded by contributions from active and retired partners of Deloitte & Touche.

Deloitte & Touche LLP, one of the nation's leading professional services firms, provides accounting and auditing, tax and management consulting services through 23,000 people in offices in more than 100 U.S. cities. Deloitte & Touche LLP is part of Deloitte Touche Tohmatsu, a global leader in professional services with over 72,000 people in 130 countries.

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