Red Hat Names Gene McDonald to Board of Directors

President of Duke Management Company to Help Guide Red Hat's Strategy


Red Hat, Inc. (Nasdaq: RHAT), the leader in open source Internet infrastructure solutions, today announced that Gene McDonald, a seasoned executive with broad experience in finance and investment management, has joined its board of directors. McDonald is President of Duke Management Company (DUMAC), the asset management division of Duke University, and executive vice president of Duke University. As part of Red Hat's board, McDonald will help to develop strategic initiatives for the leader in the open source marketplace.

"Gene's many years of experience in investment and asset management make him an ideal contributor to Red Hat's future success," said Matthew Szulik, CEO of Red Hat. "Gene's unique combination of financial management expertise, coupled with a background in law, will be a strong asset to our board as we move forward with Red Hat's plans for continued growth and sustained leadership in the open source market."

"Being so close to Red Hat for several years, I have followed the company's development from a start-up to the undisputed leader in open source," said Gene McDonald. "With its focus on providing open source solutions for Internet infrastructure, Red Hat is well-established as the leader of open source products and services. As a member of the board, I look forward to helping sustain Red Hat's position in the market and to effectively managing its financial initiatives."

McDonald has held several positions at Duke University in Durham, North Carolina since he joined in 1977 as university counsel and vice president. For six years he served as executive vice president of the university, discharging the responsibilities of chief financial officer and chief non-academic administrative officer. In this capacity, he oversaw the University's investment assets.

Prior to his tenure at Duke, McDonald served as an international business executive in London, a practicing attorney in San Francisco and a faculty member at Georgetown University Law Center.

McDonald holds a Bachelor of Arts., J.D. with Honors from the University of San Francisco, LI.M., Georgetown University Law Center, and completed the Advanced Management Program (AMP) at Harvard Business School. He was elected a Class III director at Red Hat, which means he will serve on the board until 2002.

About Red Hat, Inc.

Red Hat, the world's leading open source and Linux provider, is headquartered in Raleigh, NC with satellite offices spanning the globe. Red Hat is leading Linux and open source solutions into the mainstream by making high quality, low cost technology accessible. Red Hat provides operating system software along with middleware, applications and management solutions. Red Hat also offers support, training and consulting services to its customers worldwide and through top-tier partnerships. Red Hat's open source strategy offers customers a long term plan for building infrastructures that are based on and leverage open source technologies with focus on security and ease of management. Learn more:

LINUX is a trademark of Linus Torvalds. RED HAT is a registered trademark of Red Hat, Inc. All other names and trademarks are the property of their respective owners.

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