Cantor Fitzgerald CEO Howard Lutnick And Cantor Partners Announce New $5 Million Matching Fund For Cantor Fitzgerald Relief Fund

New York (December 2, 2001) – Cantor Fitzgerald CEO Howard Lutnick and the Cantor Fitzgerald partners have announced today a new matching donation program for the Cantor Fitzgerald Relief Fund. At a holiday function held here today for children of the affected families, sponsored by the Relief Fund, Mr. Lutnick said the Cantor partners will match all donations to the Fund up to a total of $5 million from now until the end of the year.

This announcement follows the near 100% dispersal of monies received by the Fund to date. Since the creation of the Cantor Fitzgerald Relief on September 14th, it has received $8.7 million (as of November 20, 2001) and has subsequently distributed $8.5 million to the families of victims lost in the September 11th tragedy.

“Since we have successfully distributed to the families nearly all the money raised by the Relief Fund, we have established a new goal: to match all contributions up to a total of $5 million between now and the end of the year,” Mr. Lutnick said. “It is our hope that, through this match, we can raise another $10 million for the fund. As before, the Cantor Fitzgerald Relief Fund will distribute 100% of what we receive directly to the families of those lost in the tragic events of September 11th.”

The Relief Fund was established with a $1 million donation by Mr. Lutnick. Since that time, it has received more than 20,000 donations from Americans in all 50 states and concerned residents of Canada, France and England. The Fund is administered by Edie Lutnick, Mr. Lutnick’s sister, and all administration and operation costs are covered by Cantor Fitzgerald.

The Cantor Fitzgerald Relief Fund has disbursed money to the families as follows:

The first payments of $5,000 each went to families with children under the age of one and to widows who are/were pregnant. This distribution began on October 4. The next series of $5,000 payments was distributed to all other affected families, including: families with children above 1 year old; spouses without children; longtime life partners of victims; fiancée’s; and parents who lost a child.

The Relief Fund then sent additional checks of $1,500 per child to families with dependent children.
Most recently, the Fund sent $5,000 checks to all families as a “Holiday Emergency Fund.” 

 In addition to sending relief funds to families of lost employees directly employed by Cantor Fitzgerald, eSpeed or TradeSpark, the Fund has sent checks to the families of those lost who worked for Forte Foods (who provided food services), Eurobrokers, Forest Electric and other subcontractors, and to non-Cantor related independent contractors such as Citibank, GDI Infotech and others who perished in the terrorist attack.

Edie Lutnick estimates that nearly 1300 children of the above groups were affected by this terrible tragedy. “Through the hard work and commitment of the many volunteers at the Fund and the pro bono work of our law firms, we have been able to react quickly to help the hundreds of families so severely hurt by the tragedy. Our mission is clear: we are committed and focused on taking care of these families and will not rest until we distribute every penny we receive.”

This pledge is in addition to the Company’s previous commitment to distribute to the Cantor, eSpeed and TradeSpark families an amount equal to 25% of the partnership’s profits, that otherwise would have been distributed to the remaining partners, for the next five years. This distribution will cover 10 years of health insurance costs for all families and provide each of those families with an additional minimum payment of $100,000 each.

Contributions to the Cantor Fitzgerald Relief Fund can be made in three ways:

Send checks made out to “Cantor Fitzgerald Relief Fund” to: Cantor Fitzgerald Relief Fund 101 Park Avenue, 45th Floor New York, NY 10178 Attn: Ms. Edie Lutnick

Telephone by credit card: call 1-800-446-0500

Online by credit card: www.cantorrelief.org

 


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