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FOR IMMEDIATE RELEASE

GLOBAL HERITAGE FUND ADDS THREE DISTINGUISHED LEADERS TO ITS BOARD OF DIRECTORS

Bonnie Cohen, Jeffrey Lynford, Joseph Macrae To Help Lead Growth and Strategy of Upstart International Conservancy

PALO ALTO , CALIF. (Jan. 20, 2005) - Three distinguished names have been added to the Board of Directors of Global Heritage Fund (GHF), a leading international conservancy dedicated to preserving endangered world heritage sites in developing countries.

"We are honored to have Bonnie Cohen, Jeffrey Lynford and Joseph Macrae join the GHF board and help lead our continued efforts to fund, plan and monitor critical preservation and restoration projects around the world," says Jeff Morgan, GHF's executive director. "Each brings a range of experiences that will serve to aid GHF and its endeavors."

As Undersecretary of State, Bonnie Cohen was responsible for the day-to-day operations of the State Department in more than 160 countries. She directed the overseas embassy building program, managing more than $10 billion in real estate worldwide.

During her time at the State Department, Cohen traveled to and worked in Central Asia, the Middle East, Southeast Asia, South and Central America and Africa and established the U.S. 's first and only Ambassador's Fund to support cultural preservation initiatives in countries in which U.S. embassies are located. Prior to her term at State, she was Assistant Secretary for Policy, Management and Budget and served as COO of the National Trust for Historic Preservation for 12 years.

International recruiting executive Joseph Macrae founded Mlegal and is currently engaged in retained search assignments for leading law firms expanding their operations in San Francisco, Silicon Valley and internationally. He co-founded ZMB, now Hays ZMB, in 1991, which grew into one of the largest legal recruiting firms in Europe.

Macrae lectures in the U.K. and U.S. on a range of issues, including law firm mergers, compensation structures and attraction and retention of partners.

He has had a long-standing interest in helping to find innovative ways to raise the living standards in developing countries and to preserve cultural heritage sites that are being destroyed. He currently serves on the U.S. Council for Save the Children.

"I have traveled extensively and visited many far-flung corners of the world. I want to do my part to make sure the same sites and experiences are preserved for my children and their children," says Macrae. "I especially like the GHF model of working to raise the living standards of the people who live around the sites by turning their cultural heritage into a revenue-generating asset through preservation and tourism rather than looting or destruction."

"I think GHF will do great things in the coming years and am excited to be able to play a role in that growth and work," he adds.

Jeffrey H. Lynford is co-founder and chairman of Wellsford Real Properties, Inc., a real estate merchant banking firm headquartered in New York City . He is a Trustee of Caramoor Center for Music and the Arts, the Citizens Budget Commission, Medical and Health Research Association of NYC, Polytechnic University and its Institute for Mathematics and Advances Supercomputing and the Lynford Family Charitable Trust. He sponsors the Lynford Lecture Series at Polytechnic University , which presents the work of outstanding mathematicians and scientists to a wider audience.

Lynford is also a member of the Advisory Council of Princeton University's Woodrow Wilson School , a Trustee Emeritus of the National Trust for Historic Preservation and Ex Officio Trustee of the Lower East Side Tenement Museum .

"I have been involved with historic preservation in various ways for 25 years and have a long-established interest in historic preservation," says Lynford. "During a recent trip to China I visited Lijiang Ancient Town and saw first-hand Global Heritage Fund's work on the ground. I was impressed with how GHF is mobilizing the local citizenry to preserve this irreplaceable cultural heritage site."

"The input of these three accomplished individuals will surely prove invaluable as GHF pursues long-term preservation of mankind's most important Global Heritage cultural sites in developing countries and successful community development, sustainable tourism, education and jobs," says Morgan.

About Global Heritage Fund

Global Heritage Fund is the leading international conservancy preserving endangered world heritage sites in developing countries. The conservancy's goal is to enable successful, long-term preservation of humankind's most important archaeological sites and ancient townscapes, creating new opportunities for economic growth. Global Heritage Fund uses its Preservation by Design methodology to develop comprehensive Master Conservation Plans, provide early matching grants and training, build local institutions and promote sustainable tourism development to further permanent protection for global cultural treasures. Global Heritage Fund is a registered non-profit international conservancy based in Palo Alto , California .

At the very heart of GHF's conservation efforts are the organization's Leaders in Conservation , the Advisory Board, and Trustees for Global Heritage, a distinguished network of philanthropists and foundations committed to preserving and protecting these endangered one-of-a-kind archaeological and world heritage sites.

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