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From: David L. Johnston
Newsgroups: uw.general
Subject: Press Release
Date: 1 Apr 2003 01:01:01 -0500
Organization: University of Waterloo
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FOR IMMEDIATE RELEASE


Top Two Universities to Merge

WATERLOO, Ont. and PITTSBURGH, Penn. -- The University of Waterloo and
Carnegie-Mellon University today jointly announced that the boards of
directors have unanimously approved a definitive agreement to merge
the two institutions.

Under terms of the merger agreement, University of Waterloo students
will receive one credit at CMU for every credit taken at UW. The
transaction is expected to be free of bell-curve adjustments with marks
obtained in Waterloo being converted at par to CMU marks. The merger is
subject to a number of standard conditions including regulatory
approvals and approval by the senate of each of the two universities.

David Johnston, president UW, commented 'this merger will solidify our
claim to being the "MIT of the North", by joining with the "MIT of the
Rust Belt". The combination of the two universities would strengthen
research at both ends, with CMU focus in grad school and research and
Waterloo's world class undergrad co-op program.'

On the issue of the name of the new institution, Prof. Johnston announced
that the new organization will be known as Water-Mellon University. He
observed that the new name was chosen over the alternative "University
of CarnegieLoo" which was deemed "funny but unappropriate" in a 4-3 split
decision by the board of directors at both institutions.

The biggest winners are students and professors who will have the best
of both worlds, Pittsburgh and Waterloo.

From Jon Morris, UW Media Relations, 888-4435; jmorris@uwaterloo.ca

UW Release no. 68 -- April 1, 2003
on by the board of directors at both institutions.