FOR IMMEDIATE RELEASE
May 16 , 2007

RLJ Companies Founder Contributes $100,000 to Education in Liberia

(Bethesda, Maryland) Wednesday, May 16, 2007 -- Robert L. Johnson, Chairman and CEO of the RLJ Companies and founder of Black Entertainment Television, along with his colleague, Morris Goldfarb, Chairman and CEO of G-III Apparel Group, contributed $100,000 to the Liberian Education Trust this month.  The charitable trust was formed to harness American support for the restoration of basic education in post-civil-war Liberia.

Last month, Mr. Johnson led a delegation of 25 distinguished African Americans on a business and cultural mission to Liberia. This was the first mission of its kind by a group of Americans in 25 years.

“In Liberia, I saw a country of hope.  Under the leadership of President Johnson-Sirleaf, the government is working hard to create opportunities for all Liberians,” said Robert L. Johnson, chairman and CEO of the RLJ Companies.  “Providing basic education is critical to the government’s success, and I am pleased to make a contribution to the President’s efforts.”

 Last September at the Clinton Global Initiative, Johnson pledged to mobilize support for Liberia.  This led to the creation of the $30 million Liberia Enterprise Development Fund, which Johnson announced on February 15, at the Liberia Partners’ Forum in Washington, D.C.

“The Liberian Education Trust is the right vehicle to assist with the redevelopment of Liberia as companies look at Liberia for investment opportunities and housing an educated work force is integral to success, said Morris Goldfarb, co contributor.

 The Fund is a partnership of the RLJ Companies, the Overseas Private Investment Corporation, the U.S. Africa Development Fund and CHF International, a U.S.-based non-governmental organization.

“Given what Liberia has been through over the last two decades, its unique bond with the United States and its unwavering support for the United States during World War II and the Cold War, makes the country fully deserving of all that Americans can do to ensure that its future is peaceful and prosperous,” said Johnson.

About The RLJ Companies

The RLJ Companies provides strategic investment and direction in and for a diverse portfolio of companies in the financial services, real estate, hospitality/restaurant, professional sports, film production, gaming and recording industries.  An innovative business network, The RLJ Companies seeks to target undiscovered or underserved markets, then exercise solid management and achieve results.  The RLJ Companies’ core businesses include: NBA Charlotte Bobcats and Charlotte Arena Operations; RLJ Development, a privately held hotel real estate investment company, and the RLJ Urban Lodging Funds I and II which together have more than $3 billion in assets under management; RLJ Hedge Fund of Funds, a joint venture with Deutsche Bank; RLJ Equity Partners, a joint venture with the Carlyle Group; Rollover Systems, a financial services company providing retirement plan rollover services; Caribbean Gaming and Entertainment (C.A.G.E.) a gaming operation headquartered in Puerto Rico..