RESTON, Va., April 2, 2008—The Board of Directors of SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, announced today that it has appointed Howard Newman to the Board.
Howard Newman is President and Chief Executive Officer of Pine Brook Road Partners, LLC, a private equity firm. Previously, he served as Vice Chairman and Senior Advisor of Warburg Pincus and was a senior member of the firm’s management and investment operations. Earlier in his career, he performed energy and financial services investment banking at Morgan Stanley & Co., Incorporated and served as a Senior Advisor to the Long Island Power Authority. Mr. Newman currently serves on the Board of Directors of Newfield Exploration Company, and several private companies.
“I am pleased that Howard Newman has joined the Board,” said Tony Terracciano, Chairman of the Board. “His strong experience is valuable to the company, and he believes in our mission of helping students pay for college.”
Mr. Newman’s appointment is in addition to the appointments of Michael Martin and Frank Puleo announced last week.
For more information contact:
Martha Holler (703) 984-5178 (media)
Steve McGarry (703) 984-6746 (investor)
SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, is the nation’s leading provider of saving, planning and paying for education programs. Through its subsidiaries, the company manages $192 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $21 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 11 million members and more than $500 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at
www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.