SEC Announces Roundtable Discussions Regarding Proxy Process

FOR IMMEDIATE RELEASE
2007-71

Washington, D.C., April 24, 2007 - The Securities and Exchange Commission announced today that it will host a series of roundtable discussions in May on shareholder rights and the federal proxy rules.

The first of three roundtables will take place on May 7, 2007 and will consist of panels addressing:

• The federal role in upholding shareholders' state law rights
• The purpose and effect of the federal proxy rules
• Non-binding proposals under the proxy rules
• Binding proposals under the proxy rules

"When Congress charged the SEC with regulating the proxy process for public companies, it created a federal role for the vindication of shareholders' state law rights," said SEC Chairman Christopher Cox. "This roundtable will explore the relationship between the federal proxy rules and state corporation law, and pose questions to the participants about whether this relationship can be improved."

The second and third roundtables on proxy voting will take place on May 24 and 25, 2007, respectively. A final agenda and list of participants and moderators will be published for each roundtable closer to the dates of the roundtables. The roundtables will begin at 9:00 a.m. and will be held in the Auditorium at the Commission's headquarters at 100 F Street, NE, Washington, D.C. The roundtables will be open to the public with seating on a first-come, first-served basis. Doors will open at 8:30 a.m. and visitors will be subject to security checks. The roundtable discussions also will be available via webcast on the Commission's Web site at www.sec.gov.

The Commission welcomes feedback regarding any of the topics to be addressed at the roundtables. The information that is submitted will become part of the public record of the roundtables. Submissions to the Commission may be provided by any of the following methods:

Electronic submissions:

• Use the Commission's Internet submission form at www.sec.gov/news/press.shtml; or
• Send an e-mail to rule-comments@sec.gov.

Paper submissions:

• Send paper submissions in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, N.E., Washington, D.C. 20549-1090.

All submissions should refer to File Number 4-537. This file number should be included on the subject line if e-mail is used. To help process and review submissions more efficiently, please use only one method. The Commission will post all submissions on its Web site at www.sec.gov.

Please note that all submissions received will be posted without change; the SEC does not edit personal identifying information from submissions. Only information desired to be shared publicly should be submitted.