For Immediate Release

November 28, 2006

The Santa Monica-Malibu Unified School District has received a letter of resignation from Mr. Winston Braham, Assistant Superintendent of Business Services and Chief Financial Officer. The Board of Education will consider his resignation at the December 14, 2006, regularly scheduled meeting.

Superintendent Dianne Talarico is currently recruiting an experienced individual to serve as an interim until a formal search can be conducted. Additionally, a study agreement has been entered into with the financial consulting firm FCMAT, Fiscal Crisis & Management Assistance Team. Although a crisis is not seen to exist, FCMAT was chosen due to their availability and commitment to producing a comprehensive review in a timely fashion. The independent review of our finances will include the preparation of a multi-year financial projection of the district’s general fund.

####

SANTA MONICA-MALIBU UNIFIED SCHOOL DISTRICT

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

www.smmusd.org