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Released March 25, 2004

COLLEGE OF BUSINESS AND ECONOMIC DEVELOPMENT
TO HONOR PAYNE AS DISTINGUISHED ALUMNUS

HATTIESBURG -- Mississippi business entrepreneur and Newton native Jim A. Payne has been chosen as the 2004 Distinguished Alumnus for The University of Southern Mississippi's College of Business and Economic Development.

Payne, president of Payne Enterprises, will be honored with a reception at 6 p.m. on April 1, with a dinner at the Grand Casino Gulfport Hotel to follow.

The Distinguished Alumnus Award was established to recognize outstanding achievement by an alumnus of the College of Business and Economic Development (CBED) who has distinguished himself or herself in either the public or private sector.

Payne received his degree in business management from Southern Miss in 1964 and an MBA from Mississippi College in 1981. In addition to managing a variety of investments through Payne Enterprises, Payne also manages two foundations he created. The Jimmy A. Payne Foundation is affiliated with Southern Miss and the Jim Payne Family Foundation is dedicated to medical research activities with emphasis on cancer research.

In 1989, Payne became the first Southern Miss graduate to give the university a $1 million gift. This gift, along with a similar one from his brother Larry, provided crucial funding for construction of the Payne Center, the university's recreational facility for faculty, staff and students. Since then, Payne has given generously to numerous athletic, academic and alumni funds and scholarships at Southern Miss. He also was instrumental in the purchase of a satellite uplink truck for the university.

In addition, Payne served as president of the USM Foundation for three years and now is a member of the board of directors and the investment committee. He has served as president of the Eagle Club and was inducted into the university's Alumni Hall of Fame in 1992.

While his own alma mater, Southern Miss, has been a principal beneficiary of the Payne family's generosity, Payne has also supported programs at the University of Mississippi, Millsaps College and Jones County Junior College. He is involved in higher education activities across Mississippi and also serves on the board of trustees and investment committee of Millsaps College.

Payne's business career began in the Mobile area as a salesman with Proctor and Gamble, where he worked for two years. He then moved on to Rucker Pharmacal Co., where he was a sales representative and divisional sales manager.

In 1973, Payne and eight other investors established UAD Laboratories, a pharmaceutical marketing company based in Minden, La. As president, chairman of the board and CEO, Payne moved the company and its 18 salesmen to Jackson in 1983. UAD continued to grow and soon became the 63rd-largest privately owned company in Mississippi and one of the top 40 largest pharmaceutical companies in the United States.

By the time the company was bought by Forest Laboratories of New York City in 1989, it was a multimillion-dollar corporation with a sales force of 130 and products bearing a Mississippi label in 45 states.

Former distinguished alumni of the Southern Miss College of Business and Economic Development are Harry Walker (2003), Gene Carlisle (2002) and L.D. Brinkman (2001).

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April 20, 2004 4:09 PM

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