RESTON, Va., Nov. 28, 2007—SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, announced today that Albert L. Lord has been appointed Executive Chairman.
In this role, Mr. Lord assumes principal executive management responsibility and will continue to serve as Chairman of the Board. C.E. Andrews will continue to serve as Chief Executive Officer and report to Mr. Lord.
Mr. Lord has served as Chairman of the Board of Sallie Mae since March 2005. Prior to that appointment, Mr. Lord served as the company’s Vice Chairman and Chief Executive Officer, beginning in 1997. He held various executive officer positions with Sallie Mae’s predecessor, the Student Loan Marketing Association, from 1981 to 1994.
“I look forward to taking a more active role in working with C.E. and Sallie Mae’s experienced management team,” said Mr. Lord. “The company has entered another exciting and challenging period in its 35-year history. Our Board and management will work together to continue to grow our business.”
For more information, contact:
Tom Joyce (703) 984-5610 (media)
Steve McGarry (703) 984-6746 (investors)
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.