Securities and Exchange Commission
April 12, 2004

Business Roundtable Petition - Shareholder Communications - April 12, 2004

On April 12, 2004, Business Roundtable filed a Petition for Rulemaking Regarding Shareholder Communications with the SEC. The Petition urged the SEC to undertake a thorough examination of the rules governing the ways in which public companies communicate with the shareholders of their securities. The SEC established a public comment file for this Petition: http://www.sec.gov/rules/petitions/4-493.shtml On July 1, 2009, the SEC announced that it would conduct a comprehensive examination of the shareholder communications and proxy voting system. This evaluation resulted in a Concept Release on the U.S. Proxy System, issued in July 2010: http://www.sec.gov/rules/concept/2010/34-62495fr.pdf