Providence, RI -- Arthur Ryan, the chairman and chief executive officer of Prudential Financial, Inc., has made a $1 million pledge to Providence College, the institution where he earned his bachelor's degree in mathematics in 1963. The pledge, to be paid in multi-year installments, will be used in support of the College's newest facility, the Smith Center for the Arts. In recognition of the gift, the 272-seat concert hall in the building will be named the Ryan Family Concert and Lecture Hall. 

The $18 million Smith Center for the Arts was dedicated in October 2004. The 60,000-square-foot facility houses the College's Department of Music and the Department of Theatre, Dance and Film. It features two theatres, a concert hall, a dance studio, an art gallery, a music library, classrooms, and choral and instrumental practice rooms.

"Providence College has had a lasting impact on my life, said Ryan. "I believe that my passion for learning is directly attributable to the time I spent there."

Ryan has been at the helm of Prudential Financial for over a decade. During that time, he has overseen the company's transformation from a mutual insurance company to a publicly traded global financial services company.

Ryan characterizes his gift as a "salute" to College President Rev. Philip A. Smith, O.P. - who completes his 11-year term as the eleventh President of Providence College on June 30, 2005 - and a "welcome" to incoming president Rev. Brian J. Shanley, O.P., who begins his tenure on July 1.

"I'm pleased," continued Ryan, "to make a gift that supports a new campus facility that will be a vital resource for Providence College students and faculty for many years to come."

Ryan has served as a long-time volunteer leader in Providence College's alumni and advancement activities, spearheading efforts to establish various scholarship funds. He is the recipient of a Personal Achievement Award, presented by the Providence College National Alumni Association, and was recognized in 1992 during the College's 75th Anniversary Diamond Jubilee celebration with a special award honoring his loyalty and service to his alma mater. A former member of the Board of Trustees, Ryan was awarded an honorary doctor of business administration degree by the College in 1994.

"We are all exceptionally grateful when a prominent and successful alumnus like Art Ryan - who shares our love for Providence College -- reaffirms his support of the College's mission in such a tangible way. His gift significantly strengthens Providence's ability to grow and flourish," notes Father Smith.

Adds Father Shanley, "Art Ryan is fond of citing his Providence College liberal arts education as the foundation for his success as a business executive. The timing of Art's gift also is very meaningful to me. By acknowledging both the outgoing and incoming presidents of Providence College, he is affirming his confidence in the College's leadership."

College officials are confident that Ryan's gift will help set an example that can influence other donors to make commitments at similar pacesetting levels.

_{-- 30 --}