Exeter University hits £23m target early

Exeter University has raised £23m from donations a year earlier than expected.

It launched the fund-raising campaign in May 2010 with the aim of raising £23m by 2012.

The university said changes in government funding meant that it "must look to secure other sources of income".

Vice Chancellor Sir Steve Smith said: "Philanthropy is increasingly important and will only become more so in the future."

The university is building a new £24m business school and a £48m theatre, library and student services complex.

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