A policy statement on ethical practices for college presidents developed by the Committee on Governance of the American Association of State Colleges and Universities (AASCU) is presented. Presidents of AASCU member institutions recognize the special responsibilities that pertain to them by virtue of the public trust they hold. To fulfill that trust, presidents should adhere to the following standards in exercising their responsibilities: (1) create, foster, and maintain on campus an atmosphere of academic freedom conducive to the pursuit of knowledge and the open exchange of ideas; (2) place loyalty to the institution above self-interest; (3) ensure that institutional policies and practices uphold the dignity of each member of the campus community and do not discriminate; (4) exercise appropriate probity and caution in using financial resources available through campus foundations or other organizations; (5) ensure that the institution's business and public affairs are conducted ethically; (6) use the special privileges and advantages accruing to the office of the president for the enhancement of the institution; and (7) create an atmosphere of collegiality and fairness in relationships with other institutions to ensure healthy competition rather than destructive rivalry. (SM)