NEWS RELEASE FOR IMMEDIATE RELEASE Urbana, IL – April 26, 2019 Professor Joseph A. Petry has authorized us as his legal counsel to release the following statement: It is with a deep sense of gratitude for many good years of teaching exceptional University of Illinois students that I announce my retirement from my position as Clinical Professor at the University, effective May 31, 2019. During my tenure at the University, I was fortunate to teach thousands of undergraduate students, and work with many fine graduate students and fellow faculty members within the Department of Economics and the Gies College of Business. I am proud to have been consistently rated as an excellent teacher by my students. As I made my decision to retire, I also wish to confirm that it was in the context of certain allegations being raised against me and the University’s investigation of these allegations, with which I have cooperated to every extent required. During the course of this investigation, I was on administrative leave and will remain in this status until my retirement date. I regret not being able to complete the semester with my final group of students, and am saddened that this resulted in their inconvenience. I feel strongly that, should the investigation of these allegations have continued, the University would have concluded that I did not violate the policies in question. Nonetheless, the process of confronting these allegations has taken its toll on my family and me. Accordingly, I have entered a binding agreement with the University under which the University has agreed to end this investigation in exchange for my resignation. -- Professor Joseph A. Petry FOR MORE INFORMATION CONTACT: John E. Thies Webber & Thies, P.C. 202 Lincoln Square PO Box 189 Urbana, IL 61803 (217) 367-1126 jthies@webberthies.com