RESTON, Va., March 24, 2008—The Board of Directors of SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, announced today that it has appointed Michael E. Martin and Frank C. Puleo to the Board. The Board also indicated that it intends to make additional appointments in the near future.
Michael Martin is president of Brooklyn NY Holdings LLC (BNYH). Prior to joining BNYH, he served as vice chairman and managing director of UBS Investment Bank. At UBS, he was the global head of the Financial Institutions Investment Banking Group, and a member of both the Investment Bank Board and the Global Executive Committee. Earlier in his career, he served at Credit Suisse First Boston and First Boston Corporation, and he practiced law at Wachtell, Lipton, Rosen & Katz, where he specialized in mergers and acquisitions. Mr. Martin currently serves as chairman and chief executive officer of BPW Acquisition Corp. and on the Board of Directors of Aston Villa Football Club.
Frank Puleo was formerly a partner at Millbank, Tweed, Hadley & McCloy LLP, where he advised clients on structured finance transactions as well as bank and bank holding company regulatory and securities law matters. He co-chaired the firm’s Global Finance Group and served on its Executive Committee. In addition, he served as a lecturer at Columbia University School of Law. Mr. Puleo currently is a Director of Apollo Investment Corporation and Commercial Industrial Finance Corp.
“We are pleased to report that we are bringing additional Wall Street, legal and finance expertise to the Board by appointing Michael Martin and Frank Puleo as new members,” said Tony Terracciano, Chairman of the Board. “Their experience will bring value to our Franchise, and they are each committed to our mission of helping students access higher education.”
For more information contact:
Martha Holler (703) 984-5178 (media)
Steve McGarry (703) 984-6746 (investor)
SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, is the nation’s leading provider of saving- and paying-for-college programs. The company manages nearly $172 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $19 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 9 million members and $450 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at
www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.