STATEMENT OF HERMAN J. SAATKAMP, PhD

Issued by Attorney Paul R. DAmato, Counsel for Mr. Saatkamp

September 15, 2015

Herman J. Saatkamp, PhD, whose resignation as University President after 12 years of exemplary service became effective September 1, 2015, issued the following statement today regarding the release of the report of Stockton Universitys special outside legal counsel:

I continue to have unwavering love and respect for Stockton University and its immensely vital

role in higher education and our region.

Nothing in the Gibbons Report released today changes my fundamental, deeply rooted belief

that as President of the University, I acted in the best interest of the University and the citizens

of New Jersey. My actions, as recognized in the report, were well intentioned and not based

upon any illicit motive or self-dealing.

I welcomed the opportunity to voluntarily spend several hours over two days with the attorney-

investigators and appreciate the magnitude of their challenge in reconstructing the events. I am

gratified that many of Stocktons accomplishments, from significant academic program

expansion to dramatic capital improvements, are noted in the report. However, I am deeply

disappointed at the lack of emphasis on the failure of Stocktons outside counsel, which the

Board and I relied upon, to fully disclose significant legal problems with the real estate

agreement. The fact is that outside legal counsel reviewed, approved, and recommended the

transaction. Members of the Board and I, as well as numerous local and state officials and

community members, warmly welcomed the agreement. I strongly concur that it is most

unfortunate that only after the fact did the Board and I learn that the outside counsel handling

the transaction for the University was not admitted to practice in New Jersey. I only received the

report a short time ago, but welcome the opportunity to respond in greater detail at a later time

to ensure a full and complete factual record.

For Further Information:

Paul R. DAmato, Esq. / paul@damatolawfirm.com

609.926.3300