Announcement of the Seoul Peace Prize Recipient 2006

SEOUL (September 6, 2006) Dr. Muhammad Yunus, father of the global microcredit movement andfounder and managing director of the Grameen Bank of Bangladesh, has beenawarded the prestigious 2006 Seoul Peace Prize for his decades-long dedicationto fighting poverty with an ingenious micro-credit system and for empoweringwomen as a major player of economic activities in a traditionally male-dominantsociety.SEOUL (September 6, 2006) Dr. Muhammad Yunus, father of the global microcredit movement and founder and managing director of the Grameen Bank of Bangladesh, has been awarded the prestigious 2006 Seoul Peace Prize for his decades-long dedicationto fighting poverty with an ingenious micro-credit system and for empowering women as a major player of economic activities in a traditionally male-dominant society.

Thebiennial award, announced today in Seoul, is presented to an individual or organization that makes a significant contribution to international peace and harmony. The presentation to Dr. Yunus will take place October 19 in Seoul.

Chairman of the Seoul Peace Prize Selection Committee Lee Chul-seung said Yunushad been selected from a wide spectrum of candidates worldwide, including headsof state, peace movement activists, humanitarian workers, international relief organizations, and human rights groups.

A leader in the international effort to combat poverty, Professor Yunus offers peaceful solutions to poverty through creating economic incentives for theworking poor. He advocates an ownership society in the developing and Muslim world and provides loans to women leading to adequate nutrition, health care and education for their families. Dr. Yunus champions capitalism, small government and individual liberty while promoting a free enterprise system for developing countries throughout the world.

The Seoul Peace Prize, established in 1990, commemorates the success of the 24thOlympic Games held in Seoul, which heralded the end of age-old political and ideological conflicts between the East and the West. Previous winners have included UN Secretary-General Kofi Annan, former President of the Czech Republic Vaclav Hovel, Oxfam, United Nations HighCommissioner for Refugees Sadako Ogata, and Doctors without Borders (MedecinsSans Frontieres).

If you have any inquiries, please call the SeoulPeace Prize Cultural Foundation at (02)2203-4096-8.