OppenheimerFunds, Inc. and Project Rebirth, Inc. Announce Sponsorship Agreement

OppenheimerFunds, Inc. and Project Rebirth, Inc. Announce Sponsorship Agreement OFI Commits $1 Million in Funding Through 2010, Becomes First Principal Sponsor John Murphy, President, Chairman and CEO of OppenheimerFunds, Elected to Project Rebirth Board OFI Marks One-Year Anniversary of Return Downtown with a Commitment to the Revitalization of Lower Manhattan NEW YORK, Dec. 9 /PRNewswire/ -- OppenheimerFunds, Inc., (OFI) and Project Rebirth, Inc., announced today that OFI has become the first Principal Sponsor of Project Rebirth, a non-profit organization dedicated to documenting the rebuilding of the World Trade Center site. "Project Rebirth is particularly meaningful to OppenheimerFunds because our headquarters were in the World Trade Center for nearly 15 years. Supporting the redevelopment of the lower Manhattan community has been a major focus for us since 9/11, and even more so since we relocated our offices back downtown," said John V. Murphy, President, Chairman and CEO of OppenheimerFunds, Inc., who was recently elected to Project Rebirth's board. As Project Rebirth's first principal sponsor, OFI has committed $1 million in funding through 2010. The Company's contributions will provide financial support to help Project Rebirth complete its mission of chronicling the rebirth of Ground Zero. Through the sponsorship, OFI will host several special screenings for community leaders and employees, and be acknowledged as a principal sponsor on the Project's permanent installation, which is intended for the WTC memorial site. "We're tremendously grateful to OppenheimerFunds for its generous support of this project," said Jim Whitaker, Chair and Director of Project Rebirth and President of Motion Picture Production, Imagine Entertainment. "We admire OFI's dedication to celebrating the reconstruction of the World Trade Center site and the revitalization of lower Manhattan -- it truly reflects the resiliency of the Company and its employees over the course of the last three years." The centerpiece of Project Rebirth is a time-lapse film of the World Trade Center site reconstruction. Since March 2002, six cameras have been stationed around the site and will continue to shoot one frame of film every five minutes until the reconstruction is completed. There will also be an accompanying documentary film following the lives of a number of New Yorkers who were directly affected by 9/11, providing a time-lapse view of the personal healing process. The latest film trailer and more detailed information about the project can be found at http://www.projectrebirth.org/. "We felt a profound sense of responsibility to relocate back downtown and to be an integral part of the revitalization of what we all consider to be our second homes," said Murphy. "A true work in progress, Project Rebirth is documenting the most important lesson learned from 9/11: from a terrible tragedy, we have the ability to move forward." OppenheimerFunds had offices in Tower Two of the World Trade Center. All 598 of its World Trade Center-based employees survived the events of September 11, 2001. The Company relocated its headquarters to lower Manhattan at Two World Financial Center in November 2003. The partnership between OppenheimerFunds and Project Rebirth was developed and facilitated by The Leverage Group, a New York-based strategic partnership-marketing firm. OppenheimerFunds, Inc. OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. As of September 30, 2004, OppenheimerFunds, Inc., including subsidiaries and controlled affiliates, managed assets of more than $155 billion, including assets in more than 60 mutual funds and more than 7 million shareholder accounts. The products and services of the company and its controlled affiliates include: mutual funds, hedge funds of funds, qualified retirement plans for individuals and corporations, privately managed accounts, and investment management for pension plans, foundations and other institutions. OppenheimerFunds is widely recognized as a leader in educating and empowering investors and for its award-winning customer service. OppenheimerFunds, Inc. is not affiliated with Oppenheimer & Co, Inc. or Oppenheimer Capital. OppenheimerFunds, Inc., Two World Financial Center, 225 Liberty Street, 11th Floor, New York, NY 10281 Project Rebirth Project Rebirth Inc. is a 501(c)(3) non-profit organization with offices in New York City. Project Rebirth is directed by Jim Whitaker, president of Imagine Entertainment, the production company founded by Ron Howard and Brian Glazer. Its mission is to document the entire reconstruction of the WTC site - and the experiences of individuals directly affected - to ensure that people today and future generations can experience the rebuilding and learn from our nation's ability to recover. Project Rebirth is designed to reach people around the world via its website (http://www.projectrebirth.org/), through a future memorial museum installation, and through a feature-length documentary film. The Aon Corporation is Project Rebirth's founding sponsor. Source: OppenheimerFunds, Inc. CONTACT: Jeaneen Pisarra, +1-212-323-5178, or Sean Williamson, +1-212-323-0231, both of OppenheimerFunds, Inc. Web site: http://www.oppenheimerfunds.com/ http://www.projectrebirth.org/ ------- Profile: International Entertainment