FOR IMMEDIATE RELEASE
November 22, 2004

CONTACT: Lisa Lacher, (515) 271-3119, lisa.lacher@drake.edu

DRAKE RECEIVES $10 MILLION GIFT TO SUPPORT SCHOLARSHIPS, STADIUM RENOVATION

Drake University President David Maxwell announced today that Drake has received a $10 million gift from retired Walgreen Co. Chairman and CEO Dan Jorndt and his wife, Patricia McDonnell Jorndt, both of whom are Drake alumni.

The gift will provide $5 million to endow scholarships and $5 million for the Drake Stadium revitalization project. The commitment enables the University to begin construction on the stadium project in May 2005, pending city approval of needed infrastructure changes. President Maxwell said Drake is continuing to seek additional support for the stadium revitalization, in order to ensure the quality of the project and its impact on Des Moines.

"A gift of this magnitude has a huge impact on the University's ability to serve our students and the community, and we are very grateful to Dan and Pat Jorndt for their remarkable generosity," President Maxwell said. "This gift reflects their active engagement in the University that began the day that the Jorndts entered Drake as undergraduates. Since their graduation, they have affected the lives of generations of Drake students with their commitment to creating opportunities -- scholarships, internships and careers -- and their willingness to share their experience and their wisdom as mentors, advisers and guides."

Pat Jorndt said, "My Drake classmates -- from all parts of the country -- introduced me to interests that continue to enrich my life decades later. The University's well-rounded liberal arts education developed strengths I didn't know I possessed, helped me gain confidence in my abilities and provided me with many options upon graduation.

"Dan and I," she added, "hope our contribution will open similar possibilities for future Drake students and also help ensure a strong athletic program. We're thrilled to add to the Walgreen Pharmacy Scholarships, establish the Patricia McDonnell Jorndt Liberal Arts Scholarships and participate in the renovation of Drake Stadium."

"Attending Drake was a wonderful experience," said Dan Jorndt. "I received a meaningful education both at the University and working at Williams Pharmacy on Center Street. I so enjoyed the campus life and great Midwestern atmosphere and, most importantly, I met Patti McDonnell. She's been my adviser and sweetheart for 44 years."

The stadium revitalization will reconfigure the track to meet international standards, address structural concerns, provide new throw and jump venues, install artificial turf and field lighting, relocate and upgrade the scoreboard and renovate the press box. These improvements will position Drake and Des Moines to bid successfully for the NCAA Outdoor Track and Field Championships, both regionals and nationals. The estimated local economic impact of these events, along with AAU and USA Track and Field events and the Drake Relays, will be in excess of $300 million over 10 years.

"The gift from the Jorndt family is incredibly generous," said Relays Director Mark Kostek. "The stadium renovation will give Drake and Des Moines a facility of world-class caliber that will attract NCAA and USA events and make the city the track and field capital of the Midwest. We believe that if we build it, they will come. The Jorndts are making that desire a reality and we couldn't be more pleased."

In addition to benefiting Drake athletics, the Jorndts' gift will substantially increase the University's ability to provide financial aid for students by establishing a $5 million endowment that will generate hundreds of thousands of dollars in earnings each year to fund student scholarships. Half of the scholarships will be designated for students in Drake's College of Pharmacy and Health Sciences and half for students in the College of Arts and Sciences.

"The cost of a pharmacy education has been increasing dramatically due to the required six years of instruction along with increasing requirements from the health care systems," said Raylene Rospond, dean of the College of Pharmacy and Health Sciences. "The impact of such a large scholarship gift is life-changing for students in the pharmacy program."

"We are thrilled with the generosity of the Jorndt family," said John Burney, dean of the College of Arts and Sciences. "The Patricia McDonnell Jorndt Scholarships will help arts and sciences students across a number of disciplines and significantly enhance our ability to keep higher education affordable."

Dan Jorndt graduated from Drake's pharmacy college in 1963 and Pat earned her bachelor's degree in psychology from Drake's liberal arts college in 1964. The couple have raised three children and Pat has been active in community service and charitable organizations for four decades. Dan Jorndt also earned a master's degree in business at the University of New Mexico in 1974. He held various management positions for Walgreens before being named company president in 1990, CEO in 1998 and chairman in 1999, the same year he received an honorary Doctor of Public Service degree from Drake.

In 2000, the Jorndts, who live in suburban Chicago, gave $1 million to establish the Walgreen Scholarships for Drake pharmacy students. Dan Jorndt stepped down as Walgreen CEO in 2002 and retired from the board of directors in 2003 after a 40-year career with the company.

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