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IW Financial to Offer State Treasurers Free Research on Sudan-Affiliated Companies

Data will help treasurers better understand, advise on, and meet divestment requirements

PORTLAND, Maine, May 24, 2006 — IW Financial, a leading provider of objective research and analytics enabling investment professionals to evaluate companies' environmental, social and corporate governance performance, announced today that it will provide state treasurers with free access to research on companies doing business in Sudan.

IW Financial is offering the data and—if requested—guidance on prospective implementation models to help further states' development of new laws or adherence to existing laws that require reporting, shareholder initiatives or full or targeted divestment from companies with operations in that country.

"For state treasurers who must interpret or advise on new or potential divestment mandates, the task of developing and applying legislative criteria can be daunting," stated Mark Bateman, director of research at IW Financial. "Some companies may be directly or indirectly supporting the government by doing business in Sudan while others are selling products that are used for humanitarian purposes. Our data can help make this distinction and help states develop targeted policies."

Last year the U.S. officially declared the ongoing crisis in Darfur to be genocide and urged the international community to take action. Several states reacted by passing Sudan divestment legislation, prohibiting state pension funds from investing in companies doing business there. Illinois acted first, mandating divestment by the end of January 2007; Oregon, New Jersey and Maine have all passed divestment legislation. An additional 11 states have legislation pending.

IW Financial recently added data provided by Conflict Securities Advisory Group on companies involved in Sudan to the IWF Workstation platform to help asset managers comply with divestment requirements. After talking with several state treasurers, the firm recognized the dilemma states face in developing and adhering to mandates.

"Mandating sweeping divestment can be relatively easy for a state legislature," said Bateman. "As a plan sponsor or money manager of the state pension fund, however, deciding how to comply with the spirit of these laws can be much more challenging. We want to help states make informed decisions based on measurable criteria that will support divestment on a company-by-company basis so that money managers can fully comply."

The dire situation in Sudan has claimed more than 200,000 lives. An estimated 1.8 million people have been displaced internally and another 200,000 have been forced into neighboring Chad. Some 5,000 to 10,000 people are dying every month from disease, starvation or violence.

About IW Financial
Founded in 2000, IW Financial is a leading provider of objective research and analytics on corporate practices and corporate governance. The company's technology solutions enable financial professionals to manage risk, comply with client guidelines, differentiate their services and strengthen relationships with clients. IW Financial offers research to money management firms, advisors and institutional investors through the IWF Workstation technology platform.

IW Financial is based in Portland, Maine. For more information, visit www.iwfinancial.com.

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Dan Porter
VP of Marketing
IW Financial
207-773-2333

Mike MacMillan or
Rebecca Love
MacMillan Communications
212-473-4442
info@macmillancom.com