HispanicBusiness

FAIRFAX, Va., April 20 /PRNewswire/ -- The United Negro College Fund (UNCF) today announced a $300,000 grant from clothing retailer Abercrombie & Fitch, to establish the UNCF/Abercrombie & Fitch Scholarship Program -- a four-year scholarship benefiting minority students.

Abercrombie & Fitch will award scholarships to minority students enrolled at a UNCF institution or any other accredited four-year college or university, who have permanent residence in the U.S., maintaining a minimum grade point average of 3.0 and have demonstrated financial need. The award recipients will be incoming freshmen eligible for renewal of their scholarship for up to four years.

UNCF President and CEO, Dr. Michael Lomax, believes "Abercrombie and Fitch's commitment to higher education in the African American community will have a great impact on the organization's goal to increase degree attainment among minority students." UNCF greatly appreciates the opportunity to collaborate with corporations such as Abercrombie & Fitch to empower deserving young men and women through higher education.

The UNCF/Abercrombie & Fitch Scholarship Program is particularly critical because of the widening gap between African Americans and the majority population in higher education attainment, as well as the rate at which minority students complete their education and receive bachelor's degrees; which is significantly attributed to access to affordable quality college education -- a vital component of ensuring that all minorities have a fair chance to successfully compete in the workplace. An added feature of the program is that the Hispanic College Fund will work with UNCF to identify eligible Hispanic students to receive a portion of the grant.

Bob Singer, President and Chief Operating Officer, Abercrombie & Fitch, said, "Providing students access to higher education is an investment we strongly support. Asking UNCF to administer the program, on our behalf, and collaborate with other scholarship foundations, like the Hispanic College Fund, increases our ability to reach a broad audience."

As the nation's oldest and most successful minority higher education assistance organization, the United Negro College Fund's mission is to provide financial support to its 38 member institutions and increase minority degree attainment by reducing financial barriers to college. UNCF institutions and other historically black colleges and universities are highly effective, awarding 25% of African American baccalaureate degrees. UNCF administers nearly 450 programs, including scholarship, internship and fellowship programs, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 65,000 students at over 900 colleges and universities across the country.

About Abercrombie & Fitch Co. -- The Company's principal activity is the retail distribution of casual apparel for men, women and kids. The Company markets its products under the brand names Abercrombie & Fitch, abercrombie, Hollister Co. and RUEHL. At the end of fiscal March the Company operated 357 Abercrombie & Fitch stores, 170 abercrombie stores, 260 Hollister Co. stores and 4 RUEHL stores. The Company operates e-commerce websites at http://www.abercrombie.com/, http://www.abercrombiekids.com/, and http://www.hollisterco.com/. United Negro College Fund

Web site: http://www.abercrombie.com/http://www.abercrombiekids.com/http://www.hollisterco.com/