Contact: Anthony de Bruyn, (512) 499-4363

Date: October 11, 2004

UT System News Release

Regents Recognize McDermott with Prestigious Award

DALLAS – Dallas philanthropist Margaret McDermott will receive The University of Texas System's greatest honor, the Santa Rita Award, the UT Board of Regents announced today (Oct. 11).

McDermott is a legendary contributor to higher education and the fine arts in Texas and beyond. In 2000, she donated $32 million to UT Dallas to establish the Eugene McDermott Scholars Program, named after her late husband. This endowment is the largest in the history of UTD. Every year, 16 UTD students who have shown an interest in the arts are chosen as McDermott Scholars. The program pays four years of tuition and expenses, as well as twice-annual visits home, a monthly stipend and summer internships.

McDermott also received the 2000 Philanthropic Award from the Texas Library Association for her gift of $1 million toward the renovation of the Dallas Public Library J. Erik Jonsson Central Library.

McDermott's husband, who died in 1973, was one of three co-founders of Texas Instruments, as well as the research institution that became UTD in 1969. Eugene McDermott received the Santa Rita Award in 1969. Margaret McDermott, who is the eighteenth recipient of the award, will be honored at a reception and dinner to be held in Dallas on October 11.

The Santa Rita Award is given to individuals who have made valuable contributions to the UT System, showing a deep commitment to higher education and serving as an example of selfless and public-spirited service. Past recipients include Wales H. Madden, Jr., Peter T. Flawn, Lt. Gov. Bob Bullock, Jack S. Blanton, Jess Hay, Larry Temple, Peter O'Donnell Jr., William P. Hobby, J. Erik Jonsson, Mary Moody Northen, John H. Freeman, John W. McCullough, Cecil H. Green, Harry H. Ransom, Hines H. Baker, Eugene McDermott, and Ima Hogg.

The award is named for the Santa Rita No. 1, the first producing oil well on UT System properties in West Texas. Producing oil from 1923 to 1990, the well's income spurred the historic growth of the Permanent University Fund. The original drilling rig is on display at the UT Austin campus.

The UT System has 15 campuses, including nine academic and six health institutions, and an annual operating budget of $8.5 billion (FY 2005). Student enrollment is projected to exceed 185,000 students in the 2004 academic year. The UT System confers one-third of the state's undergraduate degrees and educates three-fourths of the state's health care professionals annually. With more than 87,000 employees, the UT System is one of the largest employers in the state.