Burger King Scholars Program Has Granted More Than $8.5 Million Since 2000

6/17/05

The Burger King/McLamore Foundation has awarded 1,476 high school seniors $1,000 scholarships in the sixth year of the annual Burger King Scholars Program. These seniors received the $1,000 scholarship in recognition for academic achievement, along with other criteria to help offset the cost of attending college or a post-secondary vocational/technical school.

According to recent data from the National Center for Education Statistics, college students are relying more heavily on federal and state loans to help finance their college education. In 2004, almost half of all full-time undergraduate students took out student loans, with the average student borrowing $6,200 for the year.

"In light of these statistics, a $1,000 scholarship can go a long way in helping to ease the burden of financing a college education," said Steven M. Lewis, co-chairman of the Burger King/McLamore Foundation, which administers the Burger King Scholars Program.

Seniors throughout the United States, Puerto Rico and Canada are eligible for the scholarships, which are based on academic achievement, work experience and financial need. Students were also selected based on co-curricular activities and community service, as a majority of Burger King Scholars awardees participated in community service projects at their local hospitals, elementary schools, churches and in parks and recreation programs, among other places.

"Post-secondary school education is now an essential element to career success. This scholarship program helps provide students who would not normally have a chance at furthering their education the opportunity to do so," continued Lewis.

The scholarship money comes directly from franchise and company-owned BURGER KING® restaurants throughout the country that take it upon themselves to host a variety of fundraising activities in order to generate the money needed to fund the scholarships.

Now in its sixth year, the Burger King Scholars Program has awarded 8,526 scholarships to deserving youth, totaling more than $8.5 million. To determine scholarship recipients, the Burger King/McLamore Foundation works with high school principals and counselors to identify students who meet the criteria for an award.

About the Burger King/McLamore Foundation

Incorporated in October 1997, the Burger King/McLamore Foundation (the "Foundation") was created to grow and thrive in perpetuity. The Foundation supports youth who emulate Burger King Corporation’s co-founder, James W. McLamore’s values for education, integrity, high standards, entrepreneurial spirit and good citizenship.

The Foundation was created to unite the entire BURGER KING® system in a philanthropic effort that provides deserving youth with the educational opportunities they need to succeed. To date, the Foundation has awarded a total of 8,526 scholarships via the Burger King Scholars Program representing more than $8.5 million.

The Foundation is a public, non-profit organization whose funds are derived from many BURGER KING® system members and consumers in order to create an endowment with which to fulfill the mission "to provide educational opportunities in the spirit of Jim McLamore to deserving youth." To learn more about the Foundation and the Burger King Scholars Program, please visit http://www.bk.com/bkscholars.

About Burger King Corporation

The BURGER KING® system operates more than 11,000 restaurants in 65 countries and territories worldwide. Approximately 90 percent of BURGER KING restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades.

Burger King Holdings Inc., the parent company, is private and independently owned by an equity sponsor group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. Burger King Corporation has system-wide sales of approximately $12 billion. To learn more about BURGER KING, please visit the company's Web site at www.bk.com