For the last several months, negotiations have continued between New York State and the Government of Hungary regarding CEU’s future in Budapest. CEU has deliberately abstained from comment in order to facilitate successful negotiations. As you know, CEU is not at the negotiating table. However, we have been informed that negotiations have created the basis for an agreement. In response to the progress that has been made, CEU felt able to sign a memorandum of understanding (MOU) with Bard College, with whom we have maintained close relations for decades, to provide educational activities in New York. We hope that this MOU, which does not preclude future agreements with other New York-based institutions, helps to provide the basis for a speedy conclusion to this affair. We await the Hungarian government’s signature of the agreement and Parliament’s ratification in order to enable CEU to continue operating in Budapest, which has always been our goal.