The Washington Trust Company donates $100,000
to three major URI building projects
KINGSTON, R.I. -- February 8, 1999 -- The Washington Trust Company has
donated $100,000 to the University of Rhode Island to support its three
highest-priority capital projects.
The gift donation from the Westerly-based bank will help fund:
The URI Convocation Center, which when built will host campus events,
such as commencement and convocation, men,s and women,s basketball, concerts
and major cultural events;
The transformation of Ballentine Hall, home to URI,s College of Business
Major renovations to Green Hall, which will be transformed into a student
"The University has established its capital investment priorities,
and this is an excellent way to support the institution,s program of physical
improvements," said Thomas M. Ryan, co-chair of the Blue Ribbon Convocation
Center Steering Committee and president and chief executive officer of CVS
"Washington Trust is a major backer of a variety of programs here
at URI, from campus beautification efforts, to student scholarships, to
support for women,s intercollegiate athletics," said URI President
Robert L. Carothers. "The University is planning about $170 million
in facilities projects within the next five years, and we have identified
these three buildings as top priorities. We are grateful that Washington
Trust, which involves itself in the life of the University in so many ways,
has seen fit to dedicate funds to these critical investment projects,"
the president added.
"We,re pleased to be able to support URI with its building projects,"
said John C. Warren, president and chief executive officer of Washington
Trust. "The University has an excellent reputation in the community
and in the nation and provides an outstanding education. We have a number
of employees who are alumni of URI, so it,s a nice way to support their
alma mater as well."
The Ballentine Hall project, which has raised about $3.5 million, calls
for $5.6 million in private donations to transform the 50,000-square foot
building into a state-of-the-art business facility. Built in 1967 for a
faculty of 40 and about 900 business students, it now serves 52 faculty
members and 1,500 graduate and undergraduate business students per year.
The project also calls for a 10,000-square foot addition, a new exterior
and totally redesigned classrooms.
The Green Hall Campaign, "Restoring the Heart of the Campus,"
is a $1 million private fund-raising drive, which has to date brought in
$600,000. Built in 1937, Green last underwent a major renovation in 1965.
The campaign will help fund rehabilitated electrical systems, plumbing,
walls, floors, ceilings, exterior stonework and windows. In addition to
the private fund-raising drive, the state is contributing $2.8 million to
refurbish one of URI,s most distinctive structures and the signature building
used in its logos.
The total cost of the Convocation Center is $43.6 million. In addition,
the cost for a separate two-sheet ice facility will be $7.4 million. The
entire project calls for $15 million to be raised in private donations with
a state match.
"This donation recognizes the three buildings that are and will
be very important to academic life and campus culture here at URI,"
said Robert M. Beagle, vice president for University Advancement. "The
people of Washington Trust feel very strongly about helping the University
with its priorities. John Warren, a member of the Blue Ribbon Convocation
Center Steering Committee, is not only a major supporter of that project,
but also pays close attention to the academic side of the house," Beagle
Washington Trust has been a longtime contributor to URI,s programs, including
the Foundation Ball Fund, the Winter Gala, the URI Sailing Team, the Centennial
Bulb Planting Project and the Mary L. Robinson Scholarship.
Washington Trust also currently serves as the corporate sponsor for this
season,s women,s basketball team. In addition, last summer Washington Trust
announced its new $5,000 annual scholarship donation for URI students.
The Washington Trust Company is a Rhode Island state-chartered bank founded
in 1800. The Bank offers a full range of financial services, including trust
and investment management, through its offices in southern Rhode Island
and southeastern Connecticut. The Bank is a subsidiary of Washington Trust
Bancorp, Inc. whose common stock trades on The Nasdaq Stock MarketSM, under
the symbol, "WASH".
For Further Information: Robert M. Beagle 401-874-2291
Dave Lavallee 401-874-2116