JUSTICE DEPARTMENT WITHDRAWS BUSINESS REVIEW LETTER ISSUED TO PROXY ADVISORY FIRM

WASHINGTON, Aug. 5 -- The U.S. Department of Justice's Antitrust Division issued the following news release:

Today, the Justice Department's Antitrust Division ("Antitrust Division") is withdrawing a 1987 Business Review Letter (the "1987 BRL" or the "Letter") issued to Institutional Shareholder Services ("ISS"). ISS is a foreign-owned proxy advisory firm that advises its clients on how to vote shares their clients hold for thousands of corporate governance questions each year. ISS and Glass, Lewis & Co. LLC ("Glass Lewis"), control more than 90 percent of the proxy advisory market and their clients' holdings represent a significant ownership stake in the United States' largest publicly traded companies. As a result of this concentration o...