Minnesota Public Radio Announces the Successful Completion of Its Capital Campaign, The Next Standard, with Capstone Gift from UBS

Most significant capital campaign in its history will help MPR meet the demands of the future with an expanded broadcast facility and headquarters in downtown Saint Paul

July 24, 2006

Contact: Jennifer Syltie Johnson
651-290-1071
www.mpr.org

Gillian de Haan, UBS
212-882-5696
www.ubs.com

(Saint Paul, Minn.) July 24, 2006 — Minnesota Public Radio today announced that it has raised $56 million for The Next Standard, its capital campaign. The campaign was completed with a capstone gift of $3 million from UBS, a leading wealth management firm, to complete construction and launch programming at The UBS Forum at Minnesota Public Radio.

Of the total raised, $48.5 million was dedicated to MPR's expanded headquarters and broadcast facility in downtown Saint Paul, Minnesota Public Radio's home for more than 30 years. The 70,000 square-foot expansion more than doubles the previous headquarters on Cedar Street, providing approximately 120,000 square feet of space. It houses new technology, public space, production facilities and broadcast studios, editing suites, a digital archival facility and multimedia conference rooms.

"To maintain its effectiveness, Minnesota Public Radio has to change as much in the next five years as it has since its inception in 1967," said Bill Kling, president of Minnesota Public Radio and its national distribution division, American Public Media. "We are grateful for the generosity demonstrated through this campaign, the largest and most significant in our history. It will ensure that Minnesota Public Radio is able to deepen the public service we provide. This capstone gift from UBS is a powerful investment in Minnesota Public Radio as a convening organization and in the advancement of individual and community life in Minnesota."

Along with the funds dedicated to the new headquarters, $7.5 million in seed money has been raised for investment in four initiatives that will pave the way to greater public service programming, including: Minnesota Public Radio's Public Insight Journalism initiative; investments in music, arts and cultural programming; the beginning of an audio archive digitization and online access project; and a major program series in The UBS Forum.

The UBS Forum at Minnesota Public Radio is a public space dedicated to exploration and dialogue concerning our society's most pressing public policy and cultural issues. It is a center for communication of ideas, for gathering of knowledge, for debate among citizens and for building momentum toward solutions. The UBS Forum, located on the fifth floor of MPR's downtown Saint Paul headquarters, will be the premier convening and public broadcasting facility in the country with the ability to engage thousands of people through the radio and on the Internet, reach hundreds of thousands of listeners regionally, and amplify those discussions by connecting with millions of public radio listeners across the United States and around the world.

"The UBS Forum is used for a range of broadcasts and events — all designed to develop and foster knowledge, awareness and, ultimately, greater community spirit," said Jim Pierce, Western Division Manager, UBS Wealth Management US. "This important public facility allows these programs to be disseminated to a broad audience throughout Minnesota and beyond and UBS is proud to be part of it and to support Minnesota Public Radio."

As part of its capital campaign gift, UBS will sponsor MPR's opening gala event at the expanded headquarters in September.

Minnesota Public Radio's capital campaign, The Next Standard, began in June 2002. Groundbreaking for its expanded headquarters took place on June 22, 2004. Construction on the expanded headquarters and broadcast facility will be completed in mid-September. There were a total of 7,800 donors to MPR's capital campaign, The Next Standard, with 17 gifts of $1 million or more and 52 gifts of $100,000 or more.

UBS is one of the world's leading financial firms, serving a discerning global client base. As an organization, it combines financial strength with an international culture that embraces change. As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses. UBS is the world's largest wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. UBS is present in all major financial centers worldwide. It has offices in 50 countries, with about 39% of its employees working in the Americas, 37% in Switzerland, 16% in the rest of Europe and 8% in Asia Pacific. UBS's financial businesses employ more than 70,000 people around the world. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).

Minnesota Public Radio® operates a 37-station radio network serving virtually all of Minnesota and parts of surrounding states and produces programming for radio, Internet and face-to-face audiences. Programs produced by Minnesota Public Radio and its national production and distribution arm, American Public Media,™ reach 14.4 million listeners nationwide each week. Of these, more than 780,000 listen regionally and in surrounding states. With nearly 88,000 members, Minnesota Public Radio has the highest percentage of listener membership of any community-supported public radio network in the United States. American Public Media is the country's second-biggest producer of national public radio programs, with a portfolio including A Prairie Home Companion,® Weekend America,® Saint Paul Sunday,® Marketplace,® Marketplace Money,® The Splendid Table,® Speaking of Faith® and special reports produced by its national documentary unit, American RadioWorks.® Minnesota Public Radio, along with its sister company Southern California Public Radio, is part of a larger family of companies within American Public Media Group — a national nonprofit organization whose purpose is to develop resources, services and systems to support public media for public service. A complete list of stations, programs and additional services can be obtained on www.mpr.org and www.americanpublicmedia.org.

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Source: Data are copyright Arbitron, Inc. Arbitron data are estimates only. Spring 2005/Fall 2005 average