Bryn Mawr College Annual Financial Summary 2008

1 Performance of the non-marketable alternatives (private equity / venture capital and real assets) is as of March 31, Accordingly, the total portfolio performance numbers will adjust when updated numbers for those investments are available. 2 The Interim Benchmark is weighted according to the Interim allocation of each asset class (in parentheses) with the following indexes: Russell 3000 (U.S. Equity), MSCI EAFE (Int’l Developed Equity), MSCI Emerging Markets (Emerging Markets Equity), T-bills + 6% (Marketable Alternatives), S&P % (Private Equity / Venture Capital), CPI-U + 5% (Real Assets), and Lehman Brother 5-Year U.S. Treasury Index (Fixed Income / Cash). It is meant to represent performance of a passive, but diversified, portfolio. 3 The Broad Market Benchmark is 87% Russell 3000 and 13% Lehman Brothers 5-Year U.S. Treasury Index. It is meant to represent an undiversified portfolio.

Endowment Asset Allocation Long -Term Target 2008Difference U.S. Equity17.5%20%2.5% International Equity15.0%17%2% Emerging Markets Equity5.0%5%0% Marketable Alternatives (Hedge Funds)17.5%21%3.5% Venture Capital & Private Equity17.5%10%-7.5% Inflation Hedging Assets17.5%17%-0.5% U.S. Bonds & Cash10.0%10%0% 100% 0%

Admissions & Financial Aid Update

Class of 2012 Record applicant pool of 2,150 The largest entering class in the college’s history – on target with optimal enrollment plan with a class size of 366 students 39 states and 37 countries represented Most popular majors: English, Undecided, International Studies, Psychology, Biology 26% students of color (US citizens); 20% international (non- US citizens, permanent residents, dual citizens) Slightly higher admit rate due to enrolling fewer early decision students and hedging against financial aid uncertainty Admitted 7 students from the waitlist

Applications

Percentage Admitted

Entering Class Size

Diversity

Percentage Ranked in Top 10% of High School Class

Median SAT Critical Reading + Math

Closing Undergraduate FTE

Undergraduate Tuition Discount Rate

Current Projects Related to Enrollment Review of admissions policies and the role of standardized testing Review of financial aid policies and our overall pricing model