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Press Release

Contact:
Michael B. Laffin
412-268-3486

For immediate release:
September 21, 2005

Tepper School of Business at Carnegie Mellon Welcomes New Classes for 2005-2006

Strong growth reported in innovative distance learning and computational finance

PITTSBURGH—As the newest class of students begins studies at the Tepper School of Business at Carnegie Mellon University, enrollments in both the traditional full-time MBA and the Tepper School's other specialized offerings reflect how the school has adapted to the changing face of management education while preserving its legacy for developing business leaders with an analytical mindset.

The 165 students who comprise the full-time MBA Class of 2007 have an average GMAT score of 692 (all-time high) and an average GPA of 3.38. International students from 20 countries represent 30 percent of the class. Women account for 22 percent of the class, and underrepresented minorities comprise 9 percent. The Tepper School is a member of the Forté Foundation, which aims to increase the number of women in business leadership roles through education, and the Consortium for Graduate Study in Management, a group that focuses on increasing the number of underrepresented minorities who pursue management careers.

In addition, Tepper has 20 new Ph.D. students representing 11 countries. Twenty-five percent of the new Ph.D. students are women.

The incoming class at Tepper builds on strength in student academic qualifications and the representation of international students, women and underrepresented minorities. Tepper also recorded strong enrollment increases in its FlexMode MBA, an interactive video teleconferencing option for part-time MBA students, and the Masters of Science in Computational Finance (MSCF), a joint venture of four Carnegie Mellon colleges.

"Enrollment levels for all of the Tepper School's programs reflect continued interest in our focus on the intersection of business and technology management," says Kenneth Dunn, dean of the Tepper School of Business. "Our success in enrolling high-quality students with varied backgrounds also highlights our commitment to developing a diverse student body."

Same MBA, Different Way

An additional 71 students are enrolled in Tepper's FlexMode MBA, which is delivered via interactive video teleconferencing and takes about three years to complete. New FlexMode MBA students have begun the open-enrollment option at Carnegie Mellon West, the university's Silicon Valley campus. FlexMode MBA also is offered at numerous corporate locations including new sites in Salt Lake City and Melbourne, Fla., and existing sites in Fort Worth, Texas; Sunnyvale, Calif.; and East Hartford, Conn.

"FlexMode accommodates students who are interested in the Carnegie Mellon approach to management education but may not be able to attend classes in Pittsburgh due to career and personal commitments," said Dunn. "The content, faculty and admissions requirements are identical to those of our full-time MBA in Pittsburgh."

Tepper also welcomed 55 students from the Pittsburgh area who are enrolled in the school's traditional part-time MBA offering, known as FlexTime. Like FlexMode, the FlexTime MBA requirements match those of the full-time MBA and the curriculum is identical. Tepper's FlexTime MBA recently was ranked the No. 8 part-time MBA in the country by Forbes magazine.

Largest Class Ever for Master's Degree in Computational Finance

The Tepper School's innovative MSCF degree, a specialized 17-month curriculum that prepares students for leadership roles in the fast-changing financial services industry, welcomed 96 students, the largest to date for the 10-year-old program. Students are enrolled full-time in Pittsburgh, and both full- and part-time students participate at Carnegie Mellon's satellite location adjacent to Wall Street.

The MSCF, started in the 1994-95 academic year as the first program of its kind, is a joint collaborative venture of the Tepper School of Business and Carnegie Mellon's Mathematical Sciences Department, Department of Statistics and H. John Heinz III School of Public Policy and Management. The curriculum explores the high-level mathematical and statistical concepts underlying complicated financial structures and integrates quantitative finance with financial management and computer technology.

Significant Increase in Undergraduate Applications

Tepper's incoming undergraduate students in business are drawn from an applicant pool that was nearly 43 percent higher than in 2004. The school recently was recognized by U.S. News & World Report as the fifth-best undergraduate business program in the country.

"We anticipate another great year across the board at the Tepper School of Business," said Dunn. "The growth of our programs reflects a positive response to how innovation within our curricula has met the needs of both students and the business community. The value of a degree from Tepper has never been stronger as proven by our newest class of students who are investing in their future."

Founded in 1949, the Tepper School of Business at Carnegie Mellon is a pioneer in the field of management science and analytical decision making. The school's notable distinctions include a unique contribution to the intellectual community, including six Nobel prizes in economics and a consistent presence in the top tier of national and international business school rankings, including being named the No. 3 business school in the world by The Wall Street Journal.

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