WASHINGTON, D.C., June 9, 2003 - MANA, A National Latina Organization (MANA), a grassroots organization of Hispanic female leaders is encouraging the WorldCom (MCI) bankruptcy court judge to use his powers to amend the WorldCom/Securities and Exchange Commission (SEC) settlement to create an "Endowment Fund for Neighbor Investment Clubs" to empower minority women and working class families.

In her letter to Federal Judge Jed S. Rakoff, MANA President and CEO Alma Morales Riojas wrote: "MANA recommends that the final settlement include a form of public restitution such as the establishment of an independently governed 'Endowment Fund for Neighborhood Investment Clubs.' This fund would provide public education and financial empowerment grants to community based organizations to help low-income and working class families create their own personal wealth through investment clubs. We believe that requiring WorldCom/MCI to make amends with the general public through the establishment of an endowment fund is a small token to pay in light of how they have shattered financial portfolios- directly and indirectly."

The MANA letter to Judge Rakoff notes: "We are especially concerned that the proposed settlement is inadequate given the magnitude of the fraudulent activity and that it does not include a public restitution mandate. The real life consequences of the $11 billion in WorldCom fraud is that ordinary people, including Latina employees and shareholders, have had their lives not only disrupted but in some cases seriously harmed. Family homes, cars, education, health care, retirement savings and other financial obligations have been threatened. In addition, consumer confidence in corporate America, financial planning and the regulatory and judicial bodies that govern the marketplace are suffering."

In spite of the alleged corporate indiscretions, the awarding of reported $691 million in federal contracting to WorldCom/MCI raises additional concerns. Riojas also points out: "Rewarding WorldCom/MCI not only violates the federal procurement process but it outright undermines the competitiveness and sustainability of law-abiding business owners and contractors. It fosters an environment that rewards criminal behavior, gives an unfair advantage to a fraudulent supplier and it closes the doors to new and expanding businesses- many that are owned by Hispanic women. As a staunch advocate for Latina owned businesses and fair federal procurement practices, MANA asks the court to use whatever authority it has to restore the integrity of the federal procurement process by holding WorldCom/MCI accountable."

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MANA, A National Latina Organization, is a nonprofit, advocacy organization headquartered in the nation's capital, Washington, D. C. With chapters across the country, it is the oldest National Latina membership organization in the United States. MANA, whose mission is to empower Latinas through leadership development, community service, and advocacy, envisions a national community of informed Latina activists working to improve the quality of life for all Hispanics.

MANA also has the only national young Latina's mentoring program for girls 11 to 17, "HERMANITAS®" which brings over 200 girls to Washington DC to a summer institute that includes a briefing at the White House and a visit to the girls' Congressional representatives.