News Release

Former Fidelity Investments Executive J. Gary Burkhead of Florida Elected to Scripps Research Institute Board

La Jolla, CA, June 13, 2005—Retired Fidelity Investments executive J. Gary Burkhead of Palm Beach, Florida, has been elected to the Board of Trustees of The Scripps Research Institute, a world leader in biomedical science with laboratories in La Jolla, California, and Palm Beach County, Florida.

"Gary brings a lifetime of invaluable professional experience to our Board," said Scripps Research President Richard A. Lerner, M.D. "His leadership, wise counsel, and expertise in financial management will serve Scripps Research well in the coming years."

Prior to his retirement in 2000, Burkhead was Vice Chairman and a member of the Board of Directors of the parent company of Fidelity Investments, FMR Corporation. From October 1997 to January 2000, he was also President of Fidelity Personal Investments and Brokerage Group, then comprised of Fidelity's retail mutual fund and brokerage operations, related systems and processing groups, and institutional brokerage.

Burkhead also served as President of Fidelity Institutional Group, Fidelity Management and Research Company (Fidelity's investment management organization), and Fidelity Investments Institutional Services Company, Inc. He joined Fidelity Investments, the largest mutual fund company in the United States, in 1983.

Prior to that, he was Executive Vice President of Equitable Life Assurance Society of the United States and had been Director of Research and member of the Board of Smith Barney. 

Burkhead received a presidential appointment to serve as one of three U.S. members of the Business Advisory Council to the Asia Pacific Economic Cooperation nations. In addition, he has been a member of the Board of Directors of the Financial Analysts Federation and the Board of Trustees of the Institute of Chartered Financial Analysts.

He has served on the Board of Directors of the New York Stock Exchange and the Securities Industry Association. He is currently a trustee of Dana-Farber Cancer Institute.

Burkhead received a Bachelor's Degree from Columbia University and an M.B.A. from Harvard University Graduate School of Business. He and his wife, Dawn, live in Palm Beach.

The 30-member Board of Trustees oversees the La Jolla-based Scripps Research Institute, one of the world's largest independent, nonprofit biomedical research organizations, and its new division in Palm Beach County, Florida.  Scripps Research is at the forefront of basic biomedical science that seeks to comprehend the most fundamental processes of life. It is internationally recognized for its research into immunology, molecular and cellular biology, chemistry, neurosciences, autoimmune diseases, infectious diseases, cardiovascular diseases and synthetic vaccine development.

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