ICCR Comments on Proposed Changes to SEC Rule 14a8

NEW YORK, NY///July 25, 2007/// The SEC consideration of rule 14a8 took place today at 10:00 AM in an open meeting. Unfortunately, the result of today's SEC action has left open the possibility that upcoming rules changes may weaken or cripple Rule 14a8 and reduce the right of shareholders to exercise their ownership rights. With input from the House Financial Services Committee, numerous Representatives and Senators and thoughtful input from Commissioners Nazareth and Campos, both draft proposals were passed by a 3-2 vote.

We are working with our allies to craft a strategic "full court press" over the next 60-90 days. Please watch for further updates very soon. We will be reviewing the transcripts and working with key partners as the campaign develops.

To go to our action alert, click here.

If you are a member of the press who would like to speak with an ICCR representative about the proposed rule changes, please CONTACT:

Laura Berry
Executive Director
ICCR
212-870-2294
lberry@iccr.org

Margaret Weber
Chair
ICCR Board of Directors
313-938-1133
mweber@adriandominicans.org

John Wilson
Director of SRI
Christian Brothers Investment Services
212-490-0800 x 1918
wilsonj@cbisonline.com

Frank Rauscher
Senior Principal
Aquinas Associates
214-502-5950
rauscher@acquinasassociates.com

Tim Smith
Senior VP
Walden Asset Management
617-726-7155
tsmith@bostontrust.com

Adam Kanzer
Managing Director and General Counsel
Domini Social Investments LLC.
212-217-1027
akanzer@domini.com

Gary Brouse
Director, Corporate Governance Working Group
ICCR
646-388-1492
gbrouse@iccr.org

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