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Innovest Named #1 Provider of 'Extra-Financial' Research By Thomson Extel

July 22, 2006

London – Innovest Strategic Value Advisors is proud to have been ranked as the #1 global provider of “extra-financial” investment research in the latest Thomson Extel survey. Innovest leads the ranking with 16.38% of the vote, more than three times the scores of its major competitors.

The survey results are based on responses from 124 buy-side firms and 16 sell-side firms across Europe and the UK, and was conducted from 27 March 2006 to 14 June 2006. Forty independent research nominees were examined. The survey highlights the fact that investors are increasingly using independent extra-financial research providers, and the growing importance of these factors in mainstream investment analysis. Increasingly, investors are recognizing that purely financial indicators can give only a partial picture of a company’s true risk profile and competitive position.

Innovest Chief Executive, Dr. Matthew Kiernan, commented: “We are of course, delighted by this honour. Since our inception a decade ago, we have consciously sought to recruit analysts with investment and industry backgrounds as well as “extra-financial” domain knowledge. We have also worked very hard to go beyond mere factual reporting and stress value-added, unique analysis which our clients cannot find anywhere else. This recognition from the Thomson/Extel survey would seem to vindicate that approach, and is a real tribute not only to our Analyst Team but also to our clients, who continually push us to become even better. In addition, we will be announcing some major enhancements to our research platform over the next few months which should make it even more valuable to “real-time” returns-conscious investors.”

Innovest Strategic Value Advisors is an internationally recognized investment research and advisory firm specializing in analyzing companies’ performance on environmental, social, and strategic governance issues, with a particular focus on their impact on competitiveness, profitability, and share price performance.

Innovest industry and sector reports are available by contacting Innovest directly. Individual company ratings and reports (Intangible Value Assessments), can be purchased through CSRwire’s website by clicking here.

Innovest has offices in New York City, Toronto, San Francisco, London, Paris, Sydney, and Tokyo.

New York

Mr. Peter Wilkes

Managing Director

+1 212 421 2000 ext. 216

[email protected]

Toronto

Ms. Susan McGeachie

Director

+1 905 707 0876 ext. 217

[email protected]

San Francisco

Mr. Pierre Trevet

Managing Director

+1 415 332 3506

[email protected]

London

Mr. Andy White

Managing Director

+44 (0) 20 7073 0469

[email protected]

Paris

Perrine Dutronc

Managing Director

+33 (0)1 44 54 04 89

[email protected]

Sydney

Mr. Bill Hartnett

Managing Director

+61 2 9940 2688

[email protected]

Helping Clients Identify Strategic Investment Opportunities

www.innovestgroup.com