Pace University Purchases World Trade Institute from Port Authority

The World Trade Institute, one of the
nation’s leading schools specializing in international trade,
transportation, taxes and language studies, has been purchased by Pace
Unive rsity.

Contact: Public Affairs
(212) 346-1637

NEW YORK, July 1, 1997 — The World Trade Institute, one of the
nation’s leading schools specializing in international trade,
transportation, taxes and language studies, has been purchased by Pace
Unive rsity.

The Institute will continue operating on the 55th floor of One World
Trade Center in New York, where the Port Authority first opened it in
1970.

Port Authority Executive Director Robert E. Boyle said, “The World
Trade Institute is a valuable educational resource to both World Trade
Center tenants and the region’s international trade community. Under
the agreement we are announcing today, the Institute will continue to
serve tenants and business people from both states, and the Port
Authority will save operating costs and gain sale and rental revenues.

“This is another example of how the Port Authority is continuing to
seek privatization opportunities when they serve the public interest.
Offering international t rade and language education at the World Trade
Center is a valuable service, but it’s even a better idea if it is
managed by a private university such as Pace, with the experience and
resources to capitalize on its success.”

The acquisition of the Institute by Pace will strengthen the
University’s respected tradition of preparing men and women for
successful careers in a global economy and further its commitment to
the expansion of adult, international and corporate programs.

Pace Pr esident Patricia Ewers said, “With the acquisition of the World
Trade Institute, Pace University is building upon its 90-year
tradition of educational responsiveness and entrepreneurship by adding
a new range of academically sound, sophisticated, flexible learning
opportunities, grounded in the important international arena, for a
new generation of talented, ambitious, lifelong learners.”

The World Trade Institute has seen its programs grow in popularity
during a distinguished 25-year history. Its offerings, including
academic programs, seminars, conferences, on-site training,
international training, the Evening School of World Trade, the
Language Center and the WTI Conference Center, are ideally suited to
Pace University’ s mission. That mission emphasizes strong
partnerships with the business community, the interaction of theory
and practice, individualized and customized training, and a commitment
to continuous learning and student achievement.

During the tra nsition of ownership, Pace will provide support for the
WTI to continue to develop and deliver its programs. Pace will build
upon these programs by enhancing the scope of their content, teaching
methods, and partnerships with other organizations . The University’s
Dyson College of Arts and Sciences is already a WTI partner in
offering a certificate in Language, Culture and World Trade as well as
language training programs. Pace’s other schools are eager to explore
other possibly joi nt offerings for the Institute’s regional and
international students.

Pace is a comprehensive, independent university with campuses in New
York City and Westchester County. Nearly 14,000 students are enrolled
in undergraduate and graduate de gree programs in the Dyson College of
Arts and Sciences, Lubin School of Business, School of Computer
Science and Information Systems, School of Education, School of Law
and Lienhard School of Nursing.

The World Trade Center houses a full spect rum of businesses and
government agencies involved in international commerce, with 435
tenants from 26 countries. The 16-acre complex, with approximately 12
million square feet of office space, consists of seven buildings,
including the 110-s tory Twin Towers and the New York Marriott World
Trade Center. It also offers 70 stores and restaurants. The complex
has a daily population of 40,000 workers and more than 100,000
visitors.