This is an announcement for the paper "A universal Lipschitz extension property of Gromov hyperbolic spaces" by A. Brudnyi and Yu. Brudnyi. Abstract: A metric space has the universal Lipschitz extension property if for each subspace S embedded quasi-isometrically into an arbitrary metric space M there exists a continuous linear extension of Banach-valued Lipschitz functions on S to those on all of M. We show that the finite direct sum of Gromov hyperbolic spaces of bounded geometry is universal in the sense of this definition. Archive classification: Metric Geometry; Functional Analysis Mathematics Subject Classification: Primary 26B35, Secondary 54E35, 46B15 Remarks: 31 pages The source file(s), univ.tex: 78011 bytes, is(are) stored in gzipped form as 0601205.gz with size 22kb. The corresponding postcript file has gzipped size 105kb. Submitted from: albru@math.ucalgary.ca The paper may be downloaded from the archive by web browser from URL http://front.math.ucdavis.edu/math.MG/0601205 or http://arXiv.org/abs/math.MG/0601205 or by email in unzipped form by transmitting an empty message with subject line uget 0601205 or in gzipped form by using subject line get 0601205 to: math@arXiv.org.