Press Release

Prospect Heights, IL - July 15, 2002 -- They have traded their text books for employee manuals and their dorm rooms for cubicles. For a select group of young students, this summer will be their debut into corporate America. At Household International, the 124-year-old consumer lender, 14 students are participating in an internship program offered by United Negro College Fund (UNCF), which aims to better bridge the college classroom experience with corporate America. This internship program is a four-year, $1 million commitment by Household to the UNCF, and the 2002 program is being implemented within the company's various business units across the U.S.

The intern program extends a partnership established last year between Household and the UNCF, and is exemplary of Household's long-held commitment to attracting and retaining the best employees who can achieve their personal and professional goals. Internships over the next four years are open to deserving students, in their second to fourth year of college, who attend UNCF member institutions, other Historically Black College and Universities (HBCU) and majority institutions. Interns also must possess and maintain a 3.0 or better grade point average during their participation in the program. Household's program is a paid, 8-10 week internship, with the added potential of earning an academic scholarship.

"Our goal is to help these hard-working students achieve success by providing them with the knowledge and experience to take them as far as they want to go," said William Aldinger, chairman and chief executive officer of Household. "Further, we believe that by cultivating a diverse, talented and energetic workforce, we can continue our heritage of successful growth."

The interns will engage in assignments including event planning, gathering statistics, managing databases, assisting in the development of sales training, learning about the collections process, project management, community relations, and government relations. Also, during the duration of the internship, the students will be under the guidance of a Household manager and mentor to ensure optimal training and on-the-job development.

"Household has created an opportunity for minority students to gain valuable, hands-on experience in the corporate world," said William H. Gray, III, president and chief executive officer of United Negro College Fund. "In addition, Household will benefit from the enormous talent pool of UNCF students who will make ideal employees in the future."

Annetta Hill, intern in the corporate communications department, is experiencing firsthand the benefits of working for a successful company like Household. She acknowledges, "Household clearly has diverse senior-level talent, and I'm very pleased to have the opportunity to work with and learn from them. It feels great to be a part of a large company that welcomes and appreciates gifted young people. This is not just a copy, file and fax internship. I am gaining valuable experience which will aid me in my entry into the corporate world."

In addition to UNCF, Household works with a number of educational institutions throughout the country to help recruit talented students. One such example is INROADS, an organization whose mission is to develop and place talented minority youth in business and industry to prepare them for corporate and community leadership. Every summer, Household places college students in its business units and introduces them to the consumer lending industry and prepares them for potential positions within the company after graduation.

Household is pleased to introduce its inaugural 2002 UNCF Corporate Scholars Program interns: