September 22, 2000

Managers Ousted by Sallie Mae Form Venture to Challenge the Company

Members of the management team that lost control of Sallie Mae to a dissident group of shareholders in 1997 unveiled a venture last week that could take a bite out of their former company's business.

Versura, an Internet-based service that is designed to help colleges find lenders that can best serve their students, is the brainchild of Lydia Micheaux Marshall, Sallie Mae's executive vice president for marketing from 1993 to 1997.

Through the service, a

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