CEO Confidence Experiences a Brief Recovery

Polling Conducted Prior to Collapse of Lehman Brothers and Bailout Plan Announcement

NEW YORK, Oct. 2 /PRNewswire/ -- Chief Executive magazine's CEO Confidence Index, which is a compilation of broad executive economic sentiment, rose by 7.9 points to 100.5 according to 766 top executives surveyed in the first week of September, before the collapse of Lehman Brothers and the following turmoil in financial markets.

All five indices, with the exception of the Investment Confidence Index, rose in September. The Business Condition Index experienced the highest gains, increasing 18.1 points to 102.5, followed by the Employment Confidence Index, which increased 13.6 points to 100.9.

The Investment Confidence Index, which tracks capital spending at corporations as well as CEO market confidence, dropped by 5.6 points to 98.3. Additionally, while 21% of respondents said they had plans to increase capital spending at their companies, 26% said they plan to decrease spending.

While CEO confidence recoded increases both in August and September, polling shows that CEOs are far from confident in the economy, as the Index lingers at 100.5 points, 30 points down from a year ago.

Edward M. Kopko, CEO and Publisher of Chief Executive magazine, said, "Our polling was done when most business were still trying to make sense of the credit crisis that currently engulfs this country. Now that so much has changed, there is little doubt that confidence will be corrected downwards next polling cycle."

For additional information regarding the confidence of public- and private-company CEOs, details about CEO attitudes on employment, investment and business conditions, visit our full report at http://www.chiefexecutive.net/ceoindex.

About Chief Executive Magazine

Chief Executive is a controlled circulation magazine that has been published since 1977. It reaches 42,000 chief executive officers and their peers, reaches a total readership of 170,000. Chief Executive Group facilitates "Chief Executive of the Year," a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his or her peers. Bob Ulrich, A. G. Lafley, George David, Fred Smith, Bill Gates, John Chambers, Michael Dell and Sandy Weill are just some of the leaders who have been honored during the award's 22-year history. Chief Executive also organizes roundtable meetings and conferences to foster opportunities for top corporate officers to discuss key subjects and share their experiences within a community of peers. Visit www.chiefexecutive.net for more information.

CEO Index, September 2008

Respondents: 766

    Index                             September,       August,   Monthly
                                           2008          2008     Change
    CEO Index                             100.5          92.6        7.9
    Current Confidence Index              104.9         104.3        0.6
    Future Confidence Index                97.5          84.8       12.7
    Business Condition Index              102.5          84.4       18.1
    Invest Confidence Index                98.3         103.9       -5.6
    Employment Confidence Index           100.9          87.3       13.6