STONY BROOK, N.Y.- State University of New York Chancellor John R. Ryan and Long Island University Board Chairman Edward Travaglianti announced today that their respective boards had reached an agreement allowing SUNY to purchase Long Island University 's Southampton Campus for $35 million. The sale includes the purchase of 42 buildings on approximately 82 acres of land on the eastern end of Long Island.

"Stony Brook Southampton will provide students and faculty with world-class scholarship and research opportunities in Marine Sciences, the Environment, Health Sciences and the Arts," said SUNY Chancellor John R. Ryan. LIU Board Chairman Edward Travaglianti added, "From the beginning, the challenge for the Long Island University Board of Trustees was to meet the needs of all our students -- not only those studying at Southampton, but also those at our Brooklyn and C.W. Post Campuses -- while being sensitive to the needs of the community. I am delighted that we have accomplished both goals."

The press conference-signing ceremony was attended by New York State Senator Kenneth P. LaValle; New York State Assemblyman Fred W. Thiele, Jr.; Stony Brook Council Chair Richard T. Nasti; and Southampton Town Supervisor Patrick A. Heaney, in addition to various administrators from each university.

Stony Brook plans to begin holding classes this September. Approximately 200 students will attend during the first semester, with an enrollment of 2,000 students anticipated within five years. Stony Brook already operates an undergraduate marine science program at the site.

As part of the agreement, Long Island University will maintain a presence on the Campus that guarantees classroom and office space for a period of at least three years. In addition, the agreement allows WLIU (88.3 FM), the flagship station of the Long Island University Public Radio Network, to remain in its studio space for at least three years, and provides broadcast space on the cell tower located on campus for up to 18 years.

The terms of the agreement, which are still subject to the review of the State Attorney General and the State Office of the Comptroller, include a closing date on or before August 31.