KRONOSPAN FOUNDATION ANNOUNCES CREATION OF INTERNATIONAL SCHOLARSHIP WITH BABSON COLLEGE, BOSTON, USA

The Kronospan Foundation manages and develops the community service and outreach projects for Kronospan, the global leader in wood-based panel manufacture. The objective of the foundation is to work actively to bring programmes and activities that support social, economic and cultural development of the local communities in which we operate with core values of respect, integrity and excellence.

The Kronospan Foundation's activities are focused in two primary areas: environmental protection and education.

About the Kronospan Scholarship:
Babson College, located outside of Boston, Massachusetts, has been recognized consistently for over a decade as the #1 entrepreneurial business programme in the world. As a private institution, admission is highly selective and its students are amongst the most talented and unique. Kronospan has a long-standing relationship with the college, and values the fundamental education in business and practical experience Babson endows on its graduates. Looking to develop future leaders, Kronospan will sponsor one student per year with a full scholarship to complete a 4-year Bachelors of Science degree at Babson. All tuition, room and board, textbooks, health insurance, and transportation to and from the US will be covered. The total financial contribution of the Foundation to the Kronospan Scholarship programme exceeds USD 1 million.

Students applying for the scholarship will have to demonstrate an exceptional academic performance and will likely graduate towards the top of their class. They will additionally have held leadership positions and dedicated time to the improvement of their communities. As part of the programme, Scholars will also be offered an exclusive summer internship programme beginning after the first year and positioning the student for a position of employment with Kronospan after graduation. Kronospan and Babson are looking for highly motivated, entrepreneurial individuals who will be inspired by the opportunity to study in one of the world's premier universities, network with other brilliant and high-potential students, and one day contribute positively to their communities.

On November 5th, 2011 we will be honoured to have among us Mr. Grant Gosselin, Dean of Undergraduate Admissions, who will give a detailed presentation of Babson College, its education programme, and of the scholarship. The event will take place in George Enescu Hall, Brasov Business Park, Ionescu Crum street, 1, Brasov. The audience will consist of students from the 11th and 12th Grades and their coordinating teachers.

More about the Kronospan Foundation:
We decided to get involved in programmes that support and develop education because we strongly believe that only with a solid education will people act responsibly towards both their own interests and those of their community. We are inspired by Nelson Mandela's words: "Education is the most powerful weapon that you can use to change the world". Kronospan seeks to empower young people, since they represent the enthusiasm, dynamic, and creativity required to progress in the future. This principle is embodied in the flat managerial structure of Kronospan, wherein young potentials are tested and when proven, given more responsibility and greater opportunity. Kronospan is convinced of the need to invest in our next generations and provide the education necessary to remain both competitive and sustainable in both our endeavors and those of the wider business community.

For the Kronospan Scholarship's first year, only Romanian nationals will be eligible to apply. In following years it will also be open to students from other Eastern European countries.

Oana Bodea, Director of Kronospan Foundation: "The Kronospan Scholarship represents an excellent opportunity for every teenager that wishes to attend one of the world's leading education programmes, destined to develop entrepreneurial spirit and leadership. We trust in the potential of Romania's young generation and this is why we expect a large attendance at our meeting from November 5th 2011".

Jacob Levinson, Export Sales Manager, Kronospan China (Babson Alumnus): "Babson laid the road on which I arrived to where I am within Kronospan. From the first year's Foundation Management Experience, in which students are actually funded by the college to start their own business, to the accounting and finance classes later on, Babson gave me tools I use every day to carry out my role with Kronospan. I am delighted that the Foundation will offer this exceptional opportunity in the form of a scholarship."

More about Babson College:
Babson College offers a world-class, four-year, business education providing future leaders the skills to approach the world with a mindset of Entrepreneurial Thought and Action®. Recognized as one of the United States' Top 20 Business Programmes and as the #1 school for entrepreneurship for 15 consecutive years, Babson's mission is simple yet bold: "To educate leaders who create great economic and social value...everywhere." In doing so, Babson shapes leaders our world needs most: those who can envision and navigate change, understand global perspectives, and motivate teams with a common purpose.

Located in beautiful Wellesley, Massachusetts, just 20 kilometers from Boston, Babson's environment is rich with intellectual, cultural, athletic, and social activities. With an extraordinary commitment to educating global leaders, 27% of Babson's 2000 undergraduates are international students, representing 67 nations around the world.