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December 13 2007

Economist, Educator and Former Federal Reserve Board System Vice Chairman Dr. Preston Martin and Wife Genevieve Leave $1 Million to Advance HOPE's Financial Literacy and Minority Homeownership Initiatives

LOS ANGELES, CA--- December 13, 2007-- Even in death, Operation HOPE's (HOPE) own Dr. Preston Martin continued to show his affinity for the non-profit. He and his wife Genevieve Rogg Martin, both of whom died earlier this year, left an unprecedented $1 million gift of unrestricted funds to HOPE.

Dr. Martin was also one of the first federal financial regulators to make fair lending a top priority. As chairman of the Federal Home Loan Bank System he took a tough stand against redlining, the policy of steering credit away from minority and underserved communities.
HOPE will also establish an endowment fund with some of the proceeds from this historic gift. \