Oakwood Announces Recipients of 2011 Scholarship Program

Company Awards Five Children of Employees u,500 to Promote Higher Learning

Los Angeles, October 17, 2011 — Five hard-working young people with a passion for learning recently won scholarships and bursary awards from Oakwood, the global leader in furnished and serviced apartments, through the Howard F. Ruby Scholarship Program. The program, named after the company founder, is in its second year and is exclusively available to children of Oakwood's 2,500 employees. This year's recipients earned scholarships for their outstanding academic achievements and community service. They are:

• Nicholas Kotsianas from Rolling Hills Estates, Calif., who was awarded a u,000 scholarship
• Brandon Kwong from Cypress, Calif., who earned a U,500 scholarship
• Marina Diana from Germantown, Md., who received a u,000 scholarship

Kotsianas' enthusiasm for physics and his diverse interests, including volunteering at a local medical center, stood out during the scholarship selection process. He's looking forward to completing his degree in Physics at the University of California, Berkeley, and plans to earn a Ph.D. in Theoretical Particle Physics.

As a motivated and dedicated student, Kwong is thrilled to earn his scholarship, which he plans to use toward earning a business degree in college.

Diana, who is bilingual and enjoys volunteering at a local school, plans to pursue a career that involves helping others.

Each award recipient was recognized for academic achievement and community involvement through volunteer work in the areas of health and human services, education, arts and culture, civic life, community service, and environmental preservation. Each scholarship can be awarded annually for up to four years of college education, based on annual reviews by the Howard F. Ruby Scholarship Program Committee.

Because of the number of outstanding applications that were received, the scholarship committee also selected two applicants who will receive one-time bursary awards of ? each for the Fall 2011 school year: Jonathan Ahwal from Livonia, Mich., and Parisa Soroush from West Hills, Calif. With a dream to work for the Federal Bureau of Investigation, Ahwal plans to major in both Finance and Psychology in college. Soroush, who just started her freshman year at Moorpark College in Moorpark, Calif., hopes to earn a degree in physiology and become a pharmacist.

"I'm so impressed with the academic and life goals of these remarkable young people," says Howard Ruby, Oakwood Founder, Chairman and Chief Operating Officer. "They have really worked hard in school and in their communities and have a deep desire to continue improving themselves and the world. Our scholarship program aims to support this future generation of business leaders and humanitarians – and to support our commitment to our Oakwood family. As a business owner for more than 50 years, I understand the importance of education and developing leadership skills, as well as the need to encourage the entrepreneurial and creative spirit in others."

Oakwood has a long history of investing in its employees, offering learning and growth experiences with educational reimbursement and internal and external training seminars. In addition, Oakwood University (OU), the company's award-winning in-house Training and Development group, has been honored by Training Magazine, which named Oakwood as one of the Top 125 Training Companies for several consecutive years.

The Howard F. Ruby Scholarship Program selection committee includes several members of Oakwood's executive committee including: Marina Lubinsky, Senior Vice President and Chief Information Officer; Ric Villarreal, President; Bill Maxwell, Senior Vice President and Chief Human Resources Officer; and Ana Castellanos, Vice President of Human Resources.

About Oakwood
Oakwood is the global leader and provider of furnished and serviced apartments. For one need or many, local or around the globe - Oakwood offers flexible, easy-to-use, custom solutions to meet any temporary housing need.

A wide range of inventory and supplier management options allows Oakwood to provide the optimal housing solution whenever and wherever needed. With more than 2,500 Oakwood associates worldwide, over 25,000 apartments, and more than 400 network partners, Oakwood delivers the service and reliability clients can trust. Its staff of trained professionals throughout the world, innovative technologies, and unparalleled customer service have made Oakwood the premier choice in temporary housing solutions for 50 years.

For more information, please visit www.oakwood.com.