P R E S S   R E L E A S E

          Mr. Sanford Yung (®e¥Ã¹D), a renowned figure in the accounting profession and former Chairman of Coopers & Lybrand Hong Kong (now renamed as PricewaterhouseCoopers after merging), has established the "Sanford Yung Scholars Programme for Excellence in Accounting Studies" last year.  The programme provides one scholarship each year to the most outstanding first-year student in accounting in a local university.  This is for the purpose of encouraging the pursuit of accounting studies in Hong Kong universities and promoting the excellence in the accountancy field.

          Awardee of the Sanford Yung Scholarship shall obtain a total of HK$200,000 cash award to cover all expenses relating to his/her remaining two years' accounting studies in university.  Upon the successful completion of his/her second year's course, the awardee would be sponsored for a six- to eight-week summer placement at one of the Big Four firms in an overseas city, with the provision of return air ticket plus HK$30,000 for personal expenses.

          A total of 27 first-year accounting students with academic merits were recommended by six local universities to apply for the 2002 Award.  After very thorough processing, the Selection Panel announces recently that Miss Lo Man Ting, Florence (¦Ñ±Ó´@) of The Chinese University of Hong Kong shall be awarded the 2002 Scholarship.

          At the presentation ceremony which took place on June 3 at the Board Room of PricewaterhouseCoopers Hong Kong, Mr. Yung, donor of the programme, said that he was very pleased with the overall quality of all applicants.  Seven of them who were short-listed for interview particularly have all achieved excellent records, reflecting that many local students with outstanding performances have been inspired to take up accounting in university and later on join the profession.

          This year's awardee, Miss Lo, graduated from Maryknoll Convent School before entering the Chinese University.  Apart from her impressive academic achievements, she has been very active in voluntary services and maintained a brilliant record in extra-curricular programmes.

          Awardee of the 2001 Sanford Yung Scholarship, Miss Lee Kwan Tung, Jeanette (§õ§g§Í) who has just completed her second year's studies in the School of Accountancy at The Chinese University of Hong Kong, will leave for UK next month for an eight-week training at PricewaterhouseCoopers London.