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Citadel News Service

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CITADEL RECEIVES $1 MILLION SCHOLARSHIP GIFT

CHARLESTON, SC (Oct 11, 1995)--Mr. and Mrs. George F. McCormick of Fort Mill, SC, have fully endowed an academic scholarship fund for The Citadel worth approximately $1 million. Mr. McCormick, a 1935 graduate of The Citadel, is the former Senior Vice President of Finance of Lance, Inc. in Charlotte.

     Income from the scholarship fund will be used to support four full scholarships to be awarded to Citadel cadets for a four-year period. These scholarships will be phased in starting in the Fall of 1996 with one scholarship to an entering freshman cadet and followed each year with another scholarship to an entering freshman cadet until there is one full scholarship in place for each class. Any income from the scholarship fund not required to support the four scholarships will be reinvested in the fund in order to increase its value, with an objective of supporting additional scholarships at some point in the future.

     Beneficiaries of the Mr. and Mrs. George F. McCormick Class of 1935 Citadel Scholarship must be residents of Fairfield County who have graduated in the upper third of their high school graduating class.

     The McCormick's will be officially honored for their generous gift during The Citadel's Homecoming Weekend in November.

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