Date: May 09, 2007

11th Annual Gala Ball Honors Frank and Patricia Zarb

Hofstra University, Hempstead, NY ... The David S. Mack Sports and Exhibition Complex was completely transformed into a sophisticated and elegant reception and dining event for the 11th annual Hofstra Gala Ball, held on May 3, 2007. The event was one of the most successful in Gala history, raising more than $1.3 million for the Hofstra Scholarship Fund. Approximately 700 guests attended. The evening honorees were devoted Hofstra alumni Frank G. and Patricia K. Zarb, who are also celebrating their 50th reunion this year.

View the Gala Video

Patricia K. Zarb is a former reading specialist, classroom teacher, and admissions officer with a B.S. in Education from Hofstra University as well as an M.S. in Learning Disabilities-Reading, Professional Diploma in Reading and (almost) Ph.D. in Cognition, Language and Reading. She serves on the board of the Joan and Arnold Saltzman Center at Hofstra University and had served as chair of the board for three years. In fact, Mrs. Zarb has been a member of the board since its inception 14 years ago.

Frank G. Zarb is an internationally renowned leader in the financial services industry. He has served as chair and CEO of the National Association of Securities Dealers, as chair and CEO of the NASDAQ Stock Market, Inc. (a NASD company), as chairman, CEO and President of Alexander & Alexander Services, Inc., vice chairman and group chief executive of The Travelers, Inc., Chairman and CEO of Smith Barney, and a senior partner of Lazard Freres & Co.

From 1974 through 1977, Mr. Zarb was the senior official for all US government energy-related activities, serving as Executive Director of the Cabinet-level Energy Resources Council, Administrator of the Federal Energy Administration, and Assistant to the President for Energy Affairs (the “Energy Czar”). He has served in various assignments with the Nixon, Ford, Reagan, Bush, and Clinton administrations.

Currently he serves as managing director and senior adviser to Hellman & Friedman LLC. He is also non- executive chairman of the Promontory Financial Group. He is a former chairman of the NYSE Nominating Committee and currently serves as a member of the Board of Trustees of the Gerald R. Ford Foundation.

Mr. Zarb is a former Chairman of the Board of Trustees of his alma mater, Hofstra University, where he still serves as a Board member. Hofstra named its business school after him.

Mr. Zarb, who earned his B.S. and M.B.A. degrees in business from Hofstra University, in 1957 and 1962, respectively, was awarded an honorary Doctor of Law degree by the University and the school’s Outstanding Scholar Award. The Georgetown University McDonough School of Business conferred an Honorary Doctorate on him in 2000.

The Zarbs were married in their senior year at Hofstra, March 31, 1957.