Dear Alumni,

It gives me great pleasure to inform you that HKUST has reached the ceiling ($455 million) of the Government's Second Matching Grant Scheme, which ended on 28 February 2006. This is indeed a significant achievement. Including the matching funds provided by the Government, HKUST has secured a total of $698 million in the past seven months. If we also take into account the unmatchable donations, the amount we have raised came close to $1.2 billion.

I would like to express my deepest gratitude to all of you. No matter whether you have donated yourself, solicited from your friends, or helped convey the University's needs to the community, your support has been crucial in helping HKUST set a new record in its fundraising endeavors. I am particularly gratified to learn that our donors included not only the tycoons and long-standing supporters, but also many new friends and young alumni. This shows that the University's achievements in teaching and research are increasingly recognized by the wider society. I am confident that the future holds bright for this fine institution and more good news will follow.

As the University enters its 15th year, we are forging ahead to fulfill the vision outlined in the 2005-2020 Strategic Plan. The funds we have raised will be put to good use in carrying out our strategic initiatives. I will have more to report to you as we move forward.

May I thank you once again for your support.

Best wishes,
Paul Ching-Wu Chu
President