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NEWS RELEASE

03-19-03

Contacts:
Kim Schroeder, College of Business, (515) 294-5800
Jason Menke, ISU Foundation, (515) 294-0909
Kevin Brown, News Service, (515) 294-8986

RUANS ESTABLISH ENDOWED CHAIR IN TRANSPORTATION AND LOGISTICS

AMES, Iowa -- John and Betty Ruan of Des Moines have pledged $1.5 million to fund the John Ruan Endowed Chair in Transportation and Logistics in the College of Business at Iowa State University.

Ruan got his start in the transportation business in 1932 with only one truck. This business grew into Ruan Transportation Management Systems, which is now one of the nation's largest trucking operations, with more than 200 terminals nationwide.

"Transportation and logistics is the core business on which my father built the Ruan family of companies," said John Ruan III, chairman of Ruan Transportation Management Systems. "We're pleased to support the future development of this profession through this endowed chair." Ruan III presented the concept of an endowed chair at Iowa State to his father last summer.

Iowa State's undergraduate program in transportation and logistics is one of the largest in the country and is recognized as one of the top five in the nation.

"The Ruan name is synonymous with Iowa, transportation and business," said ISU President Gregory Geoffroy. "We are greatly honored to have the Ruans associated with the College of Business."

"We believe the Transportation and Logistics program is positioned to become the premier program in the country," said Labh Hira, Dean of the College of Business. "The John Ruan Endowed Chair is the key to achieving this goal. It will improve our ability to attract and retain world-class faculty."

The College of Business is the third largest college at Iowa State, with a Fall 2002 enrollment of more than 4,000 students.

The Ruans' gift was made through the Iowa State University Foundation -- a private, non-profit corporation dedicated to securing and managing gifts and grants that benefit Iowa State University.

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