FOR IMMEDIATE RELEASE
New York, New York
April 11, 2006

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Hearst CEO Victor F. Ganzi Named Co-Chair of the Partnership for New York City

Ganzi Joins Charles Prince at the Helm of New York City’s Leading Business Organization

Victor F. Ganzi, President & CEO of Hearst Corporation, one of the nation’s largest diversified communications companies, was elected Co-Chair of the Partnership for New York City today. He joins Charles Prince, Chairman and CEO of Citigroup, who is serving his second year as Co-Chair of the city’s leading business organization.

Ganzi began his career at Hearst in 1990 as General Counsel and Vice President, having previously been managing partner at Rogers & Wells (now Clifford Chance), one of the largest international law firms. He is a graduate of Fordham University and Harvard Law School.

“I am extremely pleased that Victor Ganzi will be serving as Co-Chair with me,” said Mr. Prince. “The business community has an important role to play in shaping the city’s civic dialogue, and I look forward to working with Victor to develop and articulate the Partnership’s position on important issues such as public education, five borough economic development, mass transit and other city priorities.”

Ganzi succeeds Martin Lipton, Senior Partner at Wachtell, Lipton, Rosen & Katz, who remains a member of the Executive Committee of the Partnership.

“Victor Ganzi is a highly respected business and civic leader who is truly committed to New York City,” said Partnership President & CEO Kathryn S. Wylde. “The Partnership also thanks Martin Lipton for his thoughtful leadership during the past two years. He is both a wise counselor and great champion for New York.”

In addition to selecting Ganzi as Co-Chair, Partnership Partners and Corporate Partners also elected three distinguished private sector leaders to the newly created position of Vice Chair. Candace K. Beinecke, Chair, Hughes Hubbard & Reed LLP and Chair, First Eagle Fund; Kenneth I. Chenault, Chairman & CEO, American Express Company; and Terry J. Lundgren, Chairman, President & CEO, Federated Department Stores Inc., were chosen for this position. At the meeting, Timothy Flynn, Chairman & CEO, KPMG LLP was re-elected Treasurer, and Sy Sternberg, Chairman & CEO, New York Life Insurance Company was re-elected Secretary.

The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the global center of commerce, culture and innovation.