CtW Investment Group Urges Exxon Shareholders to Support Independent Chair Proposal

CtW Investment Group Urges Exxon Shareholders to Support Independent Chair
Proposal

WASHINGTON, May 20 /PRNewswire/ -- Today, Michael Garland, CtW Investment
Group's Director of Value Strategies, released the following statement in
support of a shareholder proposal to name an Independent chair at Exxon Mobil
(NYSE: XOM).

"An independent board chair is essential to keep management focused on the
long-term interests of the corporation and its shareholders. This reform is
particularly needed at Exxon Mobil given its unresponsive board and the
unprecedented strategic challenges the company currently faces.

"Most significantly, Exxon Mobil has yet to face up to its need to develop
renewable energy programs that address global market changes related to
climate change. The fact that management will not even allow independent
directors to discuss these concerns with shareholders is symptomatic of a
captive board dominated by the CEO.

"An independent board chair will help restore adequate checks and balances
between the board and management, and provide the board with the independent
leadership needed to ensure a forward-looking, successful business strategy.
We are pleased to add our name to the growing list of global investors and
advisors publicly supporting the independent chair proposal at Exxon Mobil's
May 28, 2008 shareholder meeting."

The CtW Investment Group works with pension funds sponsored by unions
affiliated with Change to Win, a federation of unions representing nearly 6
million members, to enhance long-term shareholder value through active
ownership. These funds have over $200 billion in assets and are substantial
long-term Exxon Mobil shareholders.

For further information, visit www.ctwinvestmentgroup.com.

SOURCE Change to Win

Michael Garland of Change to Win, +1-212-471-1317