This part contains excerpts from the CEU Graduation Ceremony of the Academic Year 1997/1998 held in the Museum of Applied Arts in Budapest on June 23. Following opening remarks by CEU President and Rector Prof. Josef Jařab, CEU Founder George Soros introduces Commissioner Emma Bonino of the European Commission, to deliver the commencement address. This section contains also the conferring of degrees to the MA graduates in every department and awarding the first students to finish the "International Cooperation Program" at CEU.