WASHINGTON ( CNN ) -- Secretary of State Condoleezza Rice invited the woman set to replace her as the nation 's top diplomat , Sen. Hillary Clinton , to dinner Monday night , a State Department spokesman said . Secretary of State Condoleezza Rice , left , and Sen. Hillary Clinton dined together Monday night . The dinner took place at Rice 's home in the Watergate complex in downtown Washington , State Department spokesman Sean McCormack said . The meeting lasted for two hours , he said . `` They talked just very generally about policy -- the challenges , the opportunities -- talked a little bit about the job of secretary of state , talked about the 'building , ' managing a big operation , '' McCormack said . The two dined after Clinton met with members of President-elect Barack Obama 's State Department transition team on Monday . Former Secretary of State Madeleine Albright said Tuesday that important information often is exchanged during such dinners between outgoing and incoming secretaries of state . Albright , who was former President Bill Clinton 's top diplomat during his second term , said she had a similar dinner with Colin Powell , President Bush 's first secretary of state , in 2001 . Watch Albright give her advice to Obama » . `` I 'm sure they had a social part of it , but Secretary Rice told her what the major challenges are , how the department works -- we call it 'the building ' -- and , generally , I think they are very nice times , '' Albright said . `` It 's just a matter of really turning over the most important job in the world on foreign policy , '' she added . Albright said Clinton will have to get up to speed on a number of issues , including the status of negotiations the U.S. is engaged in , who will be part of her team and how she will work with other members of Obama 's national security team . `` I know from talking to her that she has a great sense of excitement and desire to ... reintroduce America to the rest of the world , '' said Albright , who said she thought that Clinton would be `` a very great secretary of state . '' Earlier , Rice said she was looking forward to meeting her successor and said she believes Clinton will do `` a great job . '' `` I talked with her and we 're going to sit down , and I 'm really looking forward to it . I 've known her a long time , and she is someone that I admire , '' Rice told CNN on Sunday . Despite being from different parties -- and Clinton 's tough criticism of Bush 's foreign policy while she was a Democratic presidential candidate -- Rice has been effusive in her praise of the former first lady . `` President-elect Obama has made his choice , and he 's made a terrific choice . Hillary Clinton is somebody of intelligence , and she 'll do a great job , '' Rice told ABC News on Sunday . `` She also has what 's most important to being secretary of state , and that is that you love this country , and you represent it from a basis of faith in its values . And I know that she will do that , '' Rice added . Obama 's decision to tap Clinton as his top diplomat already has brought about changes . On Tuesday , former President Clinton released the corporate sponsors of a Clinton Global Initiative meeting in Hong Kong , a practice he previously has resisted . The sponsors of last week 's meeting included CLSA , Laureate , the Roberson Foundation , Citi , the Li Ka Shing Foundation , The Economist , HP , Ogilvy , Suzlon , Thomson Reuters and CNN . The former president agreed to make it a regular practice to disclose the sponsors of his global initiative as part of a deal with the Obama transition team to allow the nomination of his wife to go forward . He also has agreed to allow State Department officials to review his speeches and other personal activities .
Secretary of state invites Sen. Bill Clinton to dinner at her Washington home . Such meetings are for exchange of important information , ex - secretary of state says . Bill Clinton releases names of sponsors of Clinton Global Initiative in Hong Kong .