TORONTO, ON - Thursday, September 25, 2003 - The Schulich School of Business at York University was today ranked one of the world’s 10 best MBA programs outside the US and the top school in Canada by Forbes magazine.

The Forbes biennial global survey measures the return on investment attained by graduates of MBA programs from around the world. Schulich was the highest ranked Canadian business school and was ranked 6^th among the top 10 business schools outside the US. Among all business schools in North America, Schulich was ranked 20^th overall. In Forbes’ first ever global survey in 2001, Schulich was ranked 8^th among international schools. Four other Canadian business schools made the list of ranked international schools: Queen’s was ranked 10^th, McGill was ranked 13^th, HEC-Montreal was ranked 17^th, and the John Molson School at Concordia was ranked 18^th. Insead was the number one ranked non-US school. Other non-US schools to make the top ten ranking included IMD, Cambridge, Oxford and London Business School.

The Forbes survey measures the return on investment experienced by MBA graduates of the Class of ’98. The survey calculates a "five-year MBA gain" by determining average post-MBA compensation minus the costs of attending business school (tuition and foregone salary).

"We’re extremely pleased to have been ranked sixth in the world among non-US schools," said Schulich Dean Dezsö J. Horváth. "The Forbes survey captures an important factual measure of a School’s value - namely, the average return on investment that its MBA students can expect once they graduate." He added that today’s Forbes ranking is consistent with a number of other recent global surveys, including one by the Economist Intelligence Unit, where Schulich ranked 5^th in the world among non-US schools, and the Financial Times of London, where Schulich ranked 7^th in the world among non-US schools. About Schulich

Known as Canada’s Global Business School™, the Schulich School of Business is ranked among the best business schools in the world. Schulich is ranked 17^th in the world (5^th outside of the US) by the Economist Intelligence Unit, a division of The Economist magazine, and is ranked 26^th in the world (7^th outside of the US) by the Financial Times of London. The School is also ranked as one of the top ten schools in the world outside the US by both BusinessWeek and Forbes.

Global, innovative and diverse, Schulich is Canada’s largest school of graduate management education. It offers business degrees at the undergraduate, graduate, post-graduate and executive education levels. These include Canada’s first International MBA (IMBA), as well as North America’s first ever cross-border Executive MBA degree, the Joint Kellogg-Schulich Executive MBA.

-30-

Paul Pivato (416) 736-5546