$50 million gift to NewYork-Presbyterian Hospital/Weill Cornell Medical Center

Establishes Ronald O. Perelman Heart Institute: A 'medical town square' dedicated to the treatment of heart disease

NEW YORK (Feb. 28, 2008) -- NewYork-Presbyterian Hospital/Weill Cornell Medical Center announced today that Ronald O. Perelman, chairman of MacAndrews & Forbes Holdings Inc., has made a $50 million gift to the Medical Center to be equally divided between NewYork-Presbyterian Hospital and Weill Cornell Medical College, in support of health care in New York City and around the world. The gift will establish the Ronald O. Perelman Heart Institute, and support new research and clinical care initiatives at the internationally renowned Center for Reproductive Medicine -- which will now be known as the Ronald O. Perelman and Claudia Cohen Center for Reproductive Medicine.

The new Heart Institute will function as a "medical town square" complete with a patient-friendly welcome center, a clinical trials enrollment center, and an interactive education resource center that will include the latest medical information on heart disease -- with an added focus on cardiac disease in women. And the newly named Ronald O. Perelman and Claudia Cohen Center for Reproductive Medicine will be uniquely positioned to build upon Weill Cornell's tradition of groundbreaking developments that have changed the lives of people by making it possible for them to have a child.

Mr. Perelman is a member of the Board of Trustees of NewYork-Presbyterian Hospital and the Board of Overseers at Weill Cornell Medical College.

"I am honored to establish this new state-of-the-art Heart Institute at NewYork-Presbyterian Hospital and to support groundbreaking research and clinical care initiatives in reproductive medicine. It is in keeping with my lifelong interest and support of health care and women's health in particular. The cardiac institute will not only treat patients, but also educate and advocate -- particularly to women, who still falsely believe they are at less risk -- about preventive measures to reduce heart disease," says Mr. Perelman. "I am also honored to continue to support the great work of Weill Cornell Medical College and Dr. Zev Rosenwaks in the field of reproductive medicine and dedicate it to Claudia Cohen, who was such a great admirer of Dr. Rosenwaks."