FOR IMMEDIATE RELEASE Oct. 18, 1999 CONTACT: Lisa Lacher, (515) 271-3119, Donald J. Brush, FEI, (515) 245-3218 MAYTAG EXECUTIVE TO SPEAK AT DRAKE OCT. 28 Lloyd D. Ward, chairman and chief executive officer of Maytag Corp., will be the keynote speaker at the annual Financial Executives Institute - Drake Lecture on Thursday, Oct. 28. His talk, titled "Reinventing Maytag for the 21st Century," will start at 7:15 p.m. in Drake University's Sheslow Auditorium in Old Main, 26th Street and University Avenue. The event is free and open to the public. Ward also will meet with students for an informal talk and question-and-answer session from 3 to 4 p.m. Thursday, Oct. 28, in Parents Hall North in Olmsted Center, 29th Street and University Avenue. Ward began his career with an ambitious goal ó to become CEO of a major U.S. corporation. After earning a bachelor's degree in engineering at Michigan State University, where he was captain of the basketball team, he joined Procter & Gamble and worked his way up through the ranks of the engineering department. He went on to work for Ford Motor Co., then returned to P&G and advanced to general management while earning an MBA degree from Xavier University. In 1987 Ward moved to PepsiCo Inc., where he led Frito-Lay's western and central divisions and became one of the country's most respected marketers and inspirational speakers. He joined Maytag in 1996, and in August of this year he achieved his career goal by being named chairman and CEO of Maytag. Ward recently was featured on the cover of Business Week magazine, which also selected him as one of the "Top 25 Executives of 1998." He is the second African American to lead a major U.S. company and is playing a major role in an initiative to reach a 100 percent graduation rate for African-American high school students in the Des Moines area. The FEI - Drake Lecture is an annual event sponsored by the Iowa chapter of the Financial Executives Institute and Drake University's School of Accounting and Business Law, which is part of the College of Business and Public Administration. FEI is a professional association of more than 14,000 senior financial executives from 91 chapters and some 8,000 major companies throughout the United States and Canada. The institute's research arm, Financial Executives Research Foundation, conducts and publishes authoritative studies in the field of financial management. The Iowa chapter of FEI has 101 active members representing 65 major companies in Iowa. The Iowa chapter has been ranked nationally for its program quality. Members of the Iowa chapter of FEI meet monthly, September through May, to participate in a wide array of discussions and evaluations of topics of current interest. Membership is open to those executives of major companies who are responsible for the financial management activities of their respective employing company. Minimum size criteria must be met by each member's employing company.