Miscellaneous

THE ROSE FOUNDATION
SHAREHOLDER CAMPAIGN

The Rose Foundation for Communities and the Environment encourages environmental stewardship by supporting community education and involvement in environmental protection. The Foundation is dedicated to the principle that environmental protection and community regeneration must go hand in hand and are inextricably linked to a healthy economy and job growth.

- Shareholder Campaign-

The Rose Foundation contacted Maxxam shareholders through a series of full-page ads in the Wall Street Journal and other major newspapers, and began to contact large institutional shareholders, including the California Public Employees Retirement System (CalPERS), second largest institutional investor in Maxxam and holders of over $13 million of Maxxam stock; and the California State Teachers' Retirement System (STRS). In response to outcry from teachers, organized labor and taxpayers who were against having retirement dollars fueling the chainsaws of Pacific Lumber, STRS sold all of its 71,400 shares of Maxxam in July.

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