New Undergraduate Engineer Entrepreneur Fund to Foster Students' Business
Talents
OAKLAND, N.J., Jan. 4 /PRNewswire-FirstCall/ -- Media Sciences' CEO
Michael W. Levin has committed to a gift of 50,000 shares of Media Sciences
common stock (Nasdaq: MSII) to Lehigh University, designated for the creation
of the Undergraduate Engineer Entrepreneur Fund (UEEF) in the university's
P.C. Rossin College of Engineering and Applied Science. The gift will be made
to the university over a period of three years. Media Sciences International,
Inc. is the leading independent manufacturer of color toner cartridges and
solid ink sticks for use in business color printers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020604/NYTU016LOGO )
Mr. Levin's gift is part of Shine Forever: The Campaign for Lehigh, a $500
million campaign focused on raising endowment for faculty chairs,
undergraduate scholarships, academic programs, and student life and athletics,
to attract the finest students and faculty and continually enhance the quality
and reputation of the university.
"The ability to innovate is the true value engineers bring to society,"
said David Wu, Dean of the P.C. Rossin College of Engineering and Applied
Science. "But it is important to recognize that innovation requires far more
than technical know-how. Through the UEEF program, our students will gain new,
important opportunities to grow as technical innovators ready to tackle the
real-world challenge of creating business ventures. Mr. Levin's gift will
strengthen Lehigh's long tradition of collaboration between engineering and
business and our efforts in student entrepreneurship. The program will help to
recognize the entrepreneurial spirit of our talented young engineers, motivate
them to take risks, and help them to succeed."
The UEEF supports the mission of the engineering school's Integrated
Product Development Program (IPD), and affords students with successful
projects from this program the chance to realize a promising business
opportunity. A comprehensive integrated program that focuses on technical
entrepreneurship through experiential learning, Lehigh's IPD program prepares
students to lead companies in innovation, creativity and the commercialization
of intellectual property.
Mr. Levin, who is a 1987 engineering graduate of Lehigh, remarked on the
importance of Lehigh's new fund, "When engineering innovation is tested in a
business context and shows marked potential, support like that of the
Undergraduate Engineering Entrepreneur Fund can mean the difference between a
great academic thesis and a new, promising business venture."
He continued, "While I am pleased to be the UEEF's founding donor, my
sincere hope is that other successful entrepreneurs will recognize the value
this Lehigh program brings to the business community-and will want to invest
in the success of this next generation of engineer-entrepreneurs."
Mr. Levin founded the company that became Media Sciences International,
Inc. in 1987 as a Lehigh undergraduate student. Earlier this year, Media
Sciences reported over $20 million in annual revenues and announced a move to
the NASDAQ Stock Market, trading under the symbol MSII.
For more information on Lehigh University's new UEEF or to make a
contribution to this young entrepreneurs' scholarship fund, contact Robin
Flemming at 610-758-5268 or rlf4@lehigh.edu .
About Lehigh University: Since its founding in 1865, Lehigh University
(www.lehigh.edu) has combined outstanding academic and learning opportunities
with leadership in fostering innovative research. The institution is among the
nation's most selective, highly ranked private research universities. Lehigh's
four colleges -- College of Arts and Sciences, College of Business and
Economics, College of Education and the P.C. Rossin College of Engineering and
Applied Science -- provide opportunities to 6,500 students to discover and
grow in a learning community that promotes interdisciplinary programs with
real-world experience. Lehigh's campus is located in Pennsylvania's Lehigh
Valley -- in Bethlehem, PA (50 miles north of Philadelphia and 75 miles
southwest of New York City).
About Media Sciences International, Inc.: Media Sciences International,
Inc. (Nasdaq: MSII, formerly Amex: GFX), the leading independent manufacturer
of solid ink and color toner cartridges for office color printers, has a
strong reputation for being the informed customer's choice. As the premium
quality price alternative to the printer manufacturer's brand, Media Sciences'
newly manufactured color toner and solid ink products for use in Dell(R),
Xerox(R), Tektronix(R), OKI(R), Ricoh(R), Konica-Minolta/Minolta-QMS(R),
Epson(R), and Brother(R) office color printers deliver up to and over 30% in
savings when compared to the printer manufacturer's brand. Behind every Media
Sciences product is The Science of Color(TM)-- the company's proprietary
process for delivering high quality products at the very best price, including
its commitment to exceptional, highly responsive technical support and its
longstanding, industry-leading warranty. With the Company's groundbreaking
INKlusive(TM) FREE Color Printer Program (www.inklusive.com), printer users
buy the supplies, and get the printer for free. For more information on the
Company, its products, and its programs, visit www.mediasciences.com, E-mail
info@mediasciences.com, or call 201.677.9311.
Brand names are used for descriptive purposes only and are the properties
of their respective owners.
SOURCE Media Sciences International, Inc.
CONTACT:
Bette Phelan, Assistant Director, University Communications,
Lehigh University,
+1-610-758-4644, elp206@lehigh.edu; or
Barb Short,
Marketing Communications Manager, Media Sciences International, Inc.,
+1-201-677-9311, ext. 216, bshort@mediasciences.com
