EDITOR'S NOTE: For more information, please visit "Our Students. Our Future."

TUSCALOOSA, Ala. -- The University of Alabama today announced a $500 million capital campaign that focuses on student scholarships, faculty support, campus facilities and priority needs. The “Our Students. Our Future.” campaign has raised more than $299 million since 2002 and will conclude in June 2009.

“The cornerstone of The University of Alabama’s vision for the future is to be a ‘university of choice for the best and brightest,’ and we are implementing plans and programs that are turning that vision into a reality,” said UA President Robert E. Witt. “The ‘Our Students. Our Future.’ capital campaign will help ensure the success of our efforts.”

More than half of the campaign funds raised will go to scholarships and $175 million of that will be endowed to commemorate the University’s 175th anniversary. In support of the goal, the University announced today that The Coca-Cola Foundation has donated $1 million to be used for student scholarships.

To date, the University has received 57 gifts of $1 million or more. Many businesses and corporations have also invested in UA’s future by making gifts to the campaign, including $500,000 donations from ALFA, Protective Life Corp. and Vulcan Materials.

“Our Students. Our Future.” is led by a 60-member national steering committee co-chaired by James P. Hayes Jr. of Birmingham, Carl and Ann Jones of Birmingham and Kemmons Wilson Jr. of Memphis, Tenn. The campaign co-chairs have each made significant lead gifts to the campaign.

“Working together, we can achieve our vision for the future,” said Carl Jones. “It’s going to take hard work and dedication but I’m convinced that the members of the University family will step up to the challenge.”

The faculty, staff and students of the University have also contributed more than $5 million toward the campaign’s vision. The majority of the donations went into the general scholarship fund, but employees were able to designate their gifts to specific scholarship categories or other University efforts. Student contributions created 10 scholarships for students who were the first in their family to attend college.

The University’s last capital campaign concluded in 1998, raising $224 million.