Business Roundtable Statement on Senator Schumer`s Proposed Shareholder Bill of Rights Act

WASHINGTON--(Business Wire)--
"This is an unnecessary intrusion into matters governed by state corporation
law, as well as matters currently being addressed by the Securities and Exchange
Commission, stock exchanges and public company boards," said John J. Castellani,
President of Business Roundtable. "These issues are being considered
transparently and competently by experts at both the state and federal level
charged with protecting investors and ensuring financial integrity, as well as
by individual companies," he continued.

"Furthermore, the one-size fits all nature of this bill and the uncertainty it
will generate will distract company management and boards from the essential
tasks of weathering the economic downturn and restoring shareholder value."

"Business Roundtable urges the Senate Banking Committee and the full U.S. Senate
to carefully consider the consequences of this legislation and the implications
for our economic recovery."

Business Roundtable is an association of chief executive officers of leading
U.S. companies with more than $5 trillion in annual revenues and nearly 10
million employees. Member companies comprise nearly a third of the total value
of the U.S. stock markets and pay nearly half of all corporate income taxes paid
to the federal government. Annually, they return $133 billion in dividends to
shareholders and the economy.

Business Roundtable companies give more than $7 billion a year in combined
charitable contributions, representing nearly 60 percent of total corporate
giving. They are technology innovation leaders, with more than $70 billion in
annual research and development spending - more than a third of the total
private R&D spending in the U.S.

Please visit us at www.businessroundtable.org and check us out on Facebook and
LinkedIn.

Business Roundtable
Kirk Monroe, 202-496-3269

Copyright Business Wire 2009