Pension Board Encourages UMC Investor
Comments to the SEC before October 2

For Immediate Release
September 21, 2007

Contact: M. Colette Nies, Managing Director, Communications
(847) 866-4296 or cnies@gbophb.org

Evanston, IL—The General Board of Pension and Health Benefits of The United Methodist Church (General Board), the largest denominational pension fund in the U.S., is concerned about recent efforts by the U.S. Securities and Exchange Commission (SEC) to limit the rights of shareholders to file advisory resolutions.

On July 25, 2007, the SEC released two proposed changes to the rule that gives shareholders the right to file resolutions at company annual meetings (Rule 14a-8). Though the proposals do not eliminate the right to file resolutions, they do suggest that restrictions may be possible. The General Board encourages all United Methodist investors and others to express their opinions about these proposed changes to Rule 14a-8.

Comments must be received by October 2, 2007. Copies of the proposed changes and forms for submitting comments are available on the SEC Web site at www.sec.gov/rules/proposed.shtml. Refer to files S7-16-07 and S7-17-07.

Letters (a sample is attached) can be sent to:

Commissioner Christopher Cox
Chairman
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549

Along with other socially responsible investors, the General Board is concerned by these proposed changes to Rule 14a-8. Restricting the right to file advisory shareholder resolutions would severely limit investors’ ability to engage companies in dialogue on important environmental, social and governance issues.

The filing of shareholder resolutions is one of the major advocacy tools available to investors. The Book of Discipline 2004 of The United Methodist Church directs all boards and agencies of the Church "to give careful consideration to shareholder advocacy" when investing money (¶716). The General Board files or co-files an average of 20 shareholder resolutions every year on a variety of issues.

Additional information on this issue is available at www.saveshareholderrights.org, a Web site created by the Social Investment Forum and the Interfaith Center on Corporate Responsibility to coordinate and encourage opposition to the SEC's proposed changes.