RESTON, Va., July 18 /PRNewswire-FirstCall/ -- SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, today announced the company filed its
definitive proxy statement with the Securities and Exchange Commission in
connection with the merger agreement providing for the acquisition of
Sallie Mae by an investor group led by J.C. Flowers & Co., Bank of America
and JPMorgan Chase. The company scheduled a special meeting of shareholders
for Aug. 15, 2007, to consider and vote on a proposal to approve the merger
agreement. The company will promptly commence mailing the definitive proxy
statement to shareholders of record as of June 29, 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a )
The meeting will be at 11 a.m., local time, at Sallie Mae's offices
located at 12061 Bluemont Way, Reston, VA 20190.
This press release contains "forward-looking statements" including
expectations as to future market share, the success of preferred channel
originations and future results. These statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Because such statements inherently involve risks and uncertainties,
actual results may differ materially from those expressed or implied by
such forward-looking statements. Such risks include, among others, changes
in the terms of student loans and the educational credit marketplace
arising from the implementation of applicable laws and regulations, and
from changes in such laws and regulations, changes in the demand for
educational financing or in financing preferences of educational
institutions, students and their families, and changes in the general
interest rate environment. For more information, see the company's filings
with the Securities and Exchange Commission, including the forward-looking
statements contained in the company's Supplemental Financial Information
Second Quarter 2007.
IMPORTANT ADDITIONAL INFORMATION REGARDING THE MERGER HAS BEEN FILED
WITH THE SEC:
In connection with the proposed merger, the Company filed a definitive
proxy statement with the Securities and Exchange Commission (the "SEC") on
July 18, 2007. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY
STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE MERGER AND
THE PARTIES TO THE MERGER. Investors and security holders may obtain a free
copy of the proxy statement and other relevant documents filed with the SEC
from the SEC's website at http://www.sec.gov. The Company's security
holders and other interested parties may also obtain, without charge, a
copy of the proxy statement and other relevant documents by directing a
request by mail or telephone to Investor Relations, SLM Corporation, 12061
Bluemont Way, Reston, Va. 20190, telephone 703/984-6743, or from the
Company's Web site, http://www.salliemae.com.
The Company and its directors, executive officers and other members of
its management and employees may be deemed to be participants in the
solicitation of proxies from the Company's shareholders with respect to the
Merger. Information about the Company's directors and executive officers
and their ownership of the Company's common stock is set forth in the proxy
statement as filed with the SEC on July 18, 2007.
SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the
nation's leading provider of saving- and paying-for-college programs. The
company manages $153 billion in education loans and serves nearly 10
million student and parent customers. Through its Upromise affiliates, the
company also manages $18 billion in 529 college-savings plans, and 8
million members have joined Upromise to help save for college with rewards
on purchases at nearly 70,000 places. Sallie Mae and its subsidiaries offer
debt management services as well as business and technical products to a
range of business clients, including higher education institutions, student
loan guarantors and state and federal agencies. More information is
available at http://www.salliemae.com. SLM Corporation and its subsidiaries
are not sponsored by or agencies of the United States of America.
SOURCE Sallie Mae
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Related links:
http://www.salliemae.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/827187.html/
CONTACT:
Media: Tom Joyce, +1-703-984-5610, Martha
Holler, +1-703-984-5178, or Investors: Steve McGarry,
+1-703-984-6746, Joe Fisher, +1-703-984-5755, all of Sallie Mae
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