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PRESS RELEASE

September 24, 2003

Frances Marine
(850) 245-0413

Statement From Education Commissioner Jim Horne on Silver Archer Foundation

TALLAHASSEE — Education Commissioner Jim Horne late yesterday made the following statement regarding the ongoing Inspector General's investigation into the Silver Archer Foundation, a former Scholarship Funding Organization (SFO) in the state's Corporate Tax Credit Scholarship program:

"During the course of the investigation into the Silver Archer Foundation, a former Scholarship Funding Organization (SFO) in the state's Corporate Tax Credit Scholarship program, the Inspector General at the Department of Education has informed me that the organization may have engaged in illegal activity. As a result, I have instructed him to refer the matter to the Florida Department of Law Enforcement to coordinate any further investigation with the Fifth Circuit State Attorney's Office and the Department of Financial Services."