Austria is currently in the process of finalising plans for a new University of Excellence that will offer graduate training, and whose impact will be observable internationally. 'After today's meeting it is no longer a question of whether, but how such a 'University of Excellence' should be realised,' said Austrian Minister for Education, Science and Culture, Elisabeth Gehrer. Some details have already been agreed however. The institution will be created in collaboration with existing universities, but will have its own budget consisting of 'new' government money. 'It will be the task of the working group to develop collaborative models with the universities and excellence centres from the Austrian Academy of Science. The new facility should be like a beacon whose beam reaches beyond Austrian borders,' said Ms Gehrer. Final details, including legal structure, name, location and finances will be confirmed by the end of June 2005, according to the government.