$100,000 David E. King Field Work Award Established in Geosciences Department at Stony Brook

STONY BROOK , N.Y. - November 20 th , 2006 marked the final agreement between Stony Brook alumnus and philanthropist, David E. King, and the Stony Brook Foundation, Inc. in establishing the "David E. King Field Work Award in Geosciences". Valued at $100,000, the purpose of the Fund is to support educational opportunities in the Department of Geosciences at Stony Brook, consistent with the University's mission.

The endowment fund was established as a pledge over four years, with the intention of providing one award of $2,500 during each of the years 2007 and 2008; and thereafter, two awards totaling $5,000 will be presented each year. The selection committee for the award will consist of at least three members including the Chair of the Department of Geosciences and two faculty members. The committee will select award recipients based on the qualifications and merit of outstanding students, and proposal for field research projects.

"It will truly recognize excellence in Geosciences and provide significant support for our students," stated Barbara Grodd, Assistant Vice President for Major Gifts at Stony Brook when announcing the agreement.

Mr. King established the award following his own exposure doing fieldwork while at Stony Brook. He obtained his Masters of Science in Earth and Space Sciences at Stony Brook, now known as Geosciences, in 1984. During his time at Stony Brook, King obtained funding from external sources to study Geochemistry in Ireland for his thesis, which he highlights as the source of his inspiration to do more.

"It was an incredibly valuable experience," said Mr. King. "The opportunity for people to receive funding, to pursue their ideas and to pursue those aggressively in an open environment to foster intellectual thinking - I think that's a great thing."

Although he did not continue to pursue Geosciences, King deems his experience in Ireland as a very essential point in his academic profession. After graduating from Stony Brook, he worked in the energy industry and is now in the private equity field. He joined Bear Stearns Merchant Banking (BSMB) in 2001, where he is a Senior Managing Director and Partner and serves on its Investment Committee. Prior to joining BSMB, he was a Managing Director of McCown De Leeuw & Co., where he worked from 1990 to 2000, and oversaw its New York office.

Mr. King received his Bachelor's degree from Rice University and obtained his MBA at Stanford University . His decision to support Stony Brook out of the three universities he attended was not only influenced by the disparities in funding between the institutions and his current role on Stony Brook's Dean's Council.

"It was simply a function of how much I valued my education at Stony Brook," said Mr. King. "I thought it would be great to try to create an ongoing in-place opportunity for students at Stony Brook instead of having them to go out and trying to find that same financing."

Mr. King also serves on the board of directors of ACA Capital Holdings, Inc., Cavalry Investments, LLC, Balduccis, LLC, 24 Hour Fitness Worldwide, Inc., Churchill Financial Holdings, LLC, Caribbean Financial Group, Ironshore Insurance Inc., Alter Moneta Holdings LP, and Garnet Capital Advisors, LLC. He sits on the advisory boards of Falconhead Capital, LLC, a private equity fund focused on leisure and lifestyle investments, Extreme Fitness Inc., and Plus One Fitness.