Houston Independent School District, 6th Largest in the U.S., First to Implement

NEEDHAM, MA, October 3, 2006 - Upromise, the well-known brand that helps families save money for college with everyday purchases, today announced a new program that will enable families to raise additional funds for their local K-12 schools through the Upromise service, while regularly saving for college. The Upromise Schools Program, launched today within the Houston Independent School District, will create a new strategic direction for Upromise, with the potential to raise hundreds − even thousands − of dollars for the U.S. schools that participate.

According to the American School Board, the current crisis in state budgets means school funds are feeling the pinch like never before from budget shortfalls.

"We believe this unique program can provide HISD schools with much needed funds while encouraging parents and children to recognize a college education as an achievable goal and one for which they need to plan," said Houston ISD Superintendent of Schools Abelardo Saavedra. "The Upromise Schools Program offers a safer and healthier alternative to old-fashioned, door-to-door candy sale fundraising."

The Upromise Schools Program will benefit both public and private tax-exempt schools. In Houston, parents and other consumers will begin to sign up for participation in the program this month. According to Upromise, in addition to Houston, education authorities in Florida plan to implement the program. To date, over 450 individual schools around the U.S have already signed up.

How the Upromise Schools Program Works

• Join Upromise for free • Choose a participating K-12 school to support • Earn rewards on eligible everyday spending for K-12 schools and college • Involve family and friends to help. • Save and invest rewards-and personal funds-for college

"The Upromise Schools Program recognizes the critical importance of preparing children academically and financially early on for a college future," said Tom Anderson, president and chief executive officer of Upromise. "Now parents can choose to assist their local schools financially through their Upromise memberships and save for college at the same time."

Anderson said that implementation of the Upromise Schools Program in local school districts around the country will create an opportunity to introduce more families to the importance of saving for college, while creating a college-bound culture among families with young children. In a recent study by Upromise/Harris Interactive, 60% of Americans surveyed said that they expect their children to enter a four-year college after high school; however, only 15% strongly agree that a college education is affordable. According to Anderson, "Our data reinforces the crucial fact that a family's ability to save early and regularly is the best approach to achieving financial preparedness for their college-bound children."

How the Upromise Schools Program Works The Upromise Schools Program is free for both parents and schools to join, and is simple to do. Parents can earn rewards and save money with everyday spending on groceries, gas, online shopping and more, through hundreds of partner companies that have agreed to give back a portion of the purchase price of eligible purchases of their products and services. Parents also can ask their family and friends to register and help them save. Consumers can sign up at Upromise.com/schools for free, and designate a portion of their rewards for their local schools, as well as a percentage for college savings. After they register their credit, debit, grocery and drug store cards with Upromise, the money saved is automatically credited to either the schools or their individual Upromise account. There are no coupons to clip, and no receipts to turn in to the school.

For schools, the program provides fundraising support, with no inventory to buy and no door-to-door sales required. Parents also can earn bonuses for schools when they register. For example, with 200 parents participating, an individual school could earn up to $6,000 in bonuses if parents take advantage of all of the bonus opportunities, such as shopping online, dining out and using the Citi® Upromise® Card for the first time within the first 90 days of signing up to save for their participating school. For more information, parents, friends and families can email schools@upromise.com, or call 1 (781) 707-8513.

Five-year-old Upromise Investments, Inc. is also the largest administrator of direct-to-consumer 529 plans, which allow families to save money that grows tax-deferred and then make tax-free withdrawals to pay for college. Through its relationship with eight states, Upromise Investments administers more than $11 billion in assets in just over one million accounts.