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 saving, planning and paying for education company. Sallie Mae’s saving programs, planning resources and financing options have helped more than 31 million people make the investment in higher education. Through its subsidiaries, the company manages $176 billion in education loans and serves 10 million student and parent customers. In addition, the company’s Upromise program has enabled 11 million members to earn more than $525 million in rewards to help pay for college. Its Upromise affiliates also manage more than $23 billion in 529 college-savings plans. Sallie Mae offers services to a range of institutional clients, including colleges and universities, 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.