SANTA MONICA-MALIBU UNIFIED SCHOOL DISTRICT

PRESS RELEASE

Contact: Jeanne Wells

310-450-8338, ext. 239

For Immediate Release

March 3, 2004

FIRST FEDERAL BANK OF CALIFORNIA DONATES FIRST CONTRIBUTION

TO SMMUSD EQUITY FUND - $25,000

We are pleased to announce that First Federal Bank of California donated $25,000 to the Santa Monica-Malibu Unified School District's Equity Fund in support of an equitable education for all the District's 12,800 students. Babette Heimbuch, Chairman of the Board, First Federal Bank of California, states, "On behalf of First Federal Bank of California, we are privileged to be the first contributor to this important fund and look forward to being a model for the business and philanthropic community. With a $25,000 contribution, First Federal Bank of California continues a long history of support to the Santa Monica-Malibu Unified School District and its goal of high achievement for all its students."

California Public Schools, including SMMUSD, have worked diligently to actualize the national standards-based education improvement initiative. In accordance with the initiative, the Equity Fund was established to insure that ALL students have the same opportunities and educational support in each and every school in the District, not just those students living in more privileged parts of the community. "We are thrilled and grateful for the generosity of First Federal Bank of California as its donation kicks off the District's Equity Fund," declared superintendent John Deasy. "This is just the beginning of a resourceful solution to a difficult challenge. My hope is that as the fund grows and the community sees how the funds are distributed and used, an elevated understanding will bring more individuals, companies and foundations to follow."

Contributions to the SMMUSD Equity Fund may be made by contacting the Superintendent's office.

####

SANTA MONICA-MALIBU UNIFIED SCHOOL DISTRICT

1651 16TH Street, Santa Monica 90404 - 310-450-8338 - Fax 310-581-1138

www.smmusd.org