Proponents Announce Investor Road Show for Independent Chairman Resolution at ExxonMobil

NEW YORK, May 9 /PRNewswire/ -- The filers of a shareholder proposal (proxy Item #5), at Exxon Mobil Corporation NYSE: XOM - including descendents of John D. Rockefeller - commenced an investor road show to make their case to both institutional investors and proxy voting advisory services. Information is available on the Web at http://www.exxonforowners.com .

The initiative, known as "Exxon For Owners," leads up to the May 28, 2008 ExxonMobil annual meeting in Dallas.

Considerable investor interest in this ExxonMobil shareholder proposal, Item #5 in the ExxonMobil proxy statement, has mounted in the wake of the related April 30, 2008 news conference featuring members of the Rockefeller Family and the earlier April 23, 2008 news conference featuring shareholder advocate Robert A.G. Monks. The news conferences also featured strong expressions of support for the independent chairman resolution from California Controller John Chiang, Connecticut Treasurer Denise Nappier, and Maryland Treasurer Nancy Kopp.

Proposal supporter Neva Rockefeller Goodwin said: "A number of institutional investors and fund companies have voting policies stating that they will vote against proposals to separate the Chairman and CEO positions. On this road show, we are trying to convince these investors that they should perform their voting analysis on a case-by-case basis. We see three reasons warranting their attention in the case of ExxonMobil. ExxonMobil does not even have a permanent lead independent director, a practice that is considered good corporate governance in the absence of a separate chairman and CEO. And ExxonMobil is the largest U.S. company, with a capitalization of close to $500 billion dollars. We believe this is one of those cases where it is almost inconceivable that one person would have both jobs and be able to perform effectively in each of them. This is an industry that is changing rapidly."

The proponents plan to meet with top institutional investors over the next two weeks, as well as representatives of several proxy advisory firms.

The proponents have retained Okapi Partners LLC, specialists in proxy solicitation and strategic investor response campaigns, for advice in communicating with shareholders about the proxy campaign. Shareholders seeking information about voting their shares at the ExxonMobil meeting should contact Okapi Partners toll-free at +1 877 259 6290.