Frank and Margaret Krasovec Make University-Record $20 Million Gift Commitment to College of Business

Contact: George Mauzy, media specialist, (740) 597-1794

Editors: Photos from the press conference will be available on the Web by 1 p.m. Friday at: www.ohiou.edu/news/pix/KRASOVEC1.JPG, and www.ohiou.edu/news/pix/KRASOVEC2.JPG

ATHENS, Ohio (November 10, 2000) -- Texas businessman and Ohio University alumnus Frank P. Krasovec and his wife, Margaret, announced a gift commitment of at least $20 million in support of Ohio University's Bicentennial Campaign, primarily to benefit the College of Business, at a press conference Friday at the Ohio University Inn.

The largest single gift commitment in the university's history, the gift will be funded through the Frank P. and Margaret M. Krasovec Foundation Inc.

Krasovec is a two-time graduate of Ohio University, having earned a bachelor's degree in business administration in 1965 and an MBA in 1966. He is a graduate of Lakewood High School near Cleveland.

"Ohio University provided the opportunity for me to grow and advance as a person, and I am just repaying the favor," Krasovec said. "The university helped me develop the strong foundation I needed for personal development. As a student, I received several small scholarships that helped me get through school, so I want to provide the same opportunity for other students."

The Krasovecs' commitment comes one day before the official kickoff of the Bicentennial Campaign, the conclusion of which coincides with the institution's 200th anniversary in 2004.

"The amount of the Krasovecs' gift commitment speaks volumes about their dedication to our Bicentennial Campaign and, more importantly, to the future of Ohio University and our College of Business," Ohio University President Robert Glidden said. "By pledging the largest single gift in school history, Frank and Margaret Krasovec have helped lay the foundation for Ohio University to be a leader among institutions of higher learning for many years to come."

Added Vice President for University Advancement Leonard Raley: "This is a bold and pioneering gift to the university, and an indication of the extraordinary things that are beginning to happen as we move more publicly into the Bicentennial Campaign. Through Frank and Margaret Krasovec's gift, Ohio University is destined to remain a very special place for future generations of students.The Krasovecs have raised the bar in terms of what is possible for the university through private philanthropy."

Krasovec is the chairman, CEO and president of Norwood Promotional Products Inc., based in Austin, Texas. The company sells custom-imprinted promotional products to more than 16,000 independent distributors worldwide. The company makes more than 6,000 products -- baseball caps, calendars, magnets, mugs, clothing, pens and other items -- at its 14 manufacturing and printing plants in the United States and Canada.

In 1999, Norwood strengthened its position as the No. 1 promotional products company when it bought out its second- and sixth-largest competitors. The consolidation increased Norwood's sales from $180 million to more than $460 million and doubled its workforce to about 4,000 employees.

Ohio University's College of Business offers 11 undergraduate majors and has more than 1,800 undergraduate students. This year, the college received 2,100 applications for 400 openings, a ratio that ranks first among business schools in Ohio. The college has five departments -- Accounting, Finance, Management, Management Information Systems and Marketing -- and six graduate degree programs.

"Mr. Krasovec personifies the ideals and values upon which the College of Business was founded," College of Business Dean Glenn Corlett said."His accomplishments in the corporate arena and his entrepreneurial successes are proof of his well-rounded business acumen, tenacity and vision. He is committed to providing the support necessary to transform business education from a study of the past into a laboratory of ideas, disciplines and behaviors needed to create the leading companies of the 21st century."

Krasovec began his business career in 1966 as vice president of corporate lending at Pittsburgh National Bank, where he stayed until moving to Austin in 1974. There he co-founded The Rust Group, an investment partnership active in U.S. and European cable TV ownership, venture capital and real estate acquisitions. Krasovec entered the promotional products business in 1976 when he bought an interest in the Radio Cap Co., a San Antonio baseball cap supplier.

Margaret Krasovec has more than 15 years' experience providing market analysis, marketing plan development and implementation, sales program audits and redesign for the apparel manufacturing and health care industries.

Last year, she was a guest lecturer for Ohio University's College of Business. Currently, she is the sole proprietor of the license for activewear sales at Mecca Gym and Spa in Austin. She is a former vice president of marketing and sales for Columbia St. David's Healthcare System. Krasovec also has developed a nationwide strategic sales plan for Healthcare International's psychiatric facilities.

She received her start in business by founding MWM Designs, a women's sportswear manufacturer. Krasovec earned a bachelor of science degree from the University of Arkansas and an MBA from St. Edward's University in Austin.

The Krasovecs have been involved with several Austin-area civic groups, including the Boy Scouts of America, Palmer Drug Abuse Program and Ronald McDonald House as well as the Austin/San Antonio Young Presidents' and World Presidents' organizations. They also are involved with the Austin Museum of Art.

Frank Krasovec's daughter, Kellie, is married to Dave Lever and runs Mountain Marketing in Edwards, Colo. His son, Mark, works for Slazenger Sports in Dallas and he and his wife, Karen, have a daughter, Katherine Grace.

Frank Krasovec became a member of The Ohio University Foundation Board of Trustees in January and will play an active role in the Bicentennial Campaign, which will raise money for scholarships, endowed chairs, named professorships, technological advancements, innovative programs and capital improvements.