FOR IMMEDIATE RELEASE

Comptroller Reunites Coach with WNBA Championship Ring, Couple with Cash

ANNAPOLIS, MD (June 13, 2007) - Comptroller Peter Franchot today returned a WNBA championship ring to a local woman and gave back nearly $1,100 to a Crofton, Md. couple through his agency's unclaimed property program.

"I'm thrilled to be able to return a personal treasure and some unexpected cash to three Marylanders," said Comptroller Franchot. "The state is merely the custodian of unclaimed property. Our job is to give it back to its rightful owners."

At a special ceremony in Baltimore, the Comptroller presented Kelley Gibson, the assistant coach for the UMBC Retrievers women's basketball team with her lost 2000 WNBA Championship ring. The ring, held in her mother's safe-deposit box, was turned over to the Comptroller's Office in late 2006 after the bank's attempts to contact the owner went unanswered. Gibson's mother, Marcia Ritchie relocated and neglected to pay the rent on the box.

Banks, utilities, insurance companies and other corporations are required to report to the Comptroller any contents of safe deposit boxes, bank accounts, security deposits, wages and insurance benefits that have been unclaimed after three years. Funds remain the property of the owners or their legitimate heirs and can be claimed anytime.

The agency makes its own attempts to reunite owners with their lost property and cash. Through matching files with state tax records, Internal Revenue Service and state Motor Vehicle Administration data, publishing a list of its most current account holders in newspapers across the state and at outreach at community events, the Comptroller's office gave back $51 million to 42,000 claimants last year.

Gibson, a 1999 alumna of the University of Maryland's Lady Terrapins went on to play for the Houston Comets for four years, winning a WNBA Championship her rookie year. She gave the ring to her mother for safe keeping and hadn't realized it was missing.

"With all the traveling I was doing at the time, I thought it was best kept in a safe deposit box," Gibson said. "I didn't realize it was lost until the Comptroller's Office notified me. I'm happy to get it back."

The other unclaimed property recipients, Clyde and Betsey Grimm, of Crofton, Md., received a check from Comptroller Franchot for $1083.32, the result of an old escrow account from the sale of a home. Clyde, a retired architect was shocked to see his name in the last newspaper supplement and called the agency to see what he was owed. "I was surprised to see my name in the newspaper," Clyde Grimm said. "This money was unexpected. Everyone likes a windfall."

Nearly 14,000 people found lost money in this year's unclaimed property advertising campaign. The initiative generated about 20,000 calls with 70 percent of callers netting a claim. The agency holds approximately 715,000 accounts dating back to the 1960s worth more than $580 million.

To see if you are owed any unclaimed property, visit the Comptroller's Web site at www.marylandtaxes.com or call 410-767-1700 from Central Maryland or toll-free at 1-800-782-7383.

"I encourage all Marylanders to check our Web site and find out if we have some lost treasurers for you," said Comptroller Franchot.

Media Contact Only: Christine Duray, 410-260-6346 (office), 443-336-0215 (cell)