Wal-Mart Tops List Second Year In A Row

NEW YORK, Jul 09, 2008 (BUSINESS WIRE) -- FORTUNE announced today that only 153 U.S. companies have made the
FORTUNE Global list, the lowest in over a decade. Wal-Mart Stores
sustained the top spot on the latest FORTUNE Global 500 list after a
nearly 8% increase in revenue--remaining the only retailer in the top
ten. Wal-Mart was followed by a close second, Exxon Mobil (U.S.); No.
3 -- Royal Dutch Shell (Netherlands); No. 4 -- BP (Britain); No. 5 --
Toyota Motor (Japan); No. 6 -- Chevron (U.S.); No. 7 -- ING Group
(Netherlands); No. 8 -- Total (France); No. 9 -- General Motors
(U.S.); and No. 10 -- ConocoPhillips (U.S.). The complete list and
accompanying stories will appear in the July 21 issue of FORTUNE,
available on newsstands July 14 and online at
http://money.cnn.com/magazines/fortune/global500/2008/ July 9.

"The list shows the fewest U.S. businesses (153) in more than a
decade and confirms the rising prominence of the emerging markets.
Less than ten years ago India, Mexico and Russia posted only one
company on the Global 500. This year's list includes seven from the
subcontinent and five firms each from Mexico and Russia," says FORTUNE
reporter Jenny Mero in explaining the rankings.

Overall, revenues for the Global 500 companies were $23.6
trillion, up 13%, and profits were $1.6 trillion, up 3.9%. Overseas
growth has been a bright spot--so far--for many of the world's largest
corporations. Wal-Mart's international sales grew 17.5% this
year--triple what it saw Stateside--and now make up 24% of the
company's total revenue, up from 8.9% a decade ago. The U.S. still had
the most companies on the list (153), though it is the worst U.S.
showing in more than a decade. A falling dollar became an advantage to
non-U.S. based companies.

Brazil, Russia, India, and China all came up winners this year,
due to the inflow of cash from pumping oil and mining metals. But
China is stealing the show with an unprecedented total of 29 companies
on the list. That's as many as Italy, Spain, and Australia combined.

Where the economy has been the weakest, companies have
suffered--particularly those in retail and those no longer bolstered
by subprime lending in the States. Bear Stearns, Nike, and the Gap are
off the list. Sanyo (No. 459) plunged 103 spots and Motorola fell to
No. 200 from No. 143. Meanwhile, Washington Mutual landed at No. 318
and Countrywide (recently acquired by Bank of America) at No. 352,
each dropping about 70 spots.

Additional data on the FORTUNE Global 500, including profits,
assets, stockholders equity, and employee stats for each Global 500
company; country-by-country rankings; industry leaders; top performing
companies; company contact information; and the complete 2008 list is
available July 9 exclusively at
http://money.cnn.com/magazines/fortune/global500/2008/.

2008 FORTUNE Global 500 facts:

Make-up of the top ten companies:

-- Six oil companies (Exxon Mobil, Royal Dutch Shell, BP,
Chevron, Total, ConocoPhillips)

-- Two auto companies (Toyota Motor, General Motors)

-- One retailer (Wal-Mart)

-- One financial services company (ING Group)

Highest Profits (in billions):

-- United States: Exxon Mobil ($40.6); General Electric ($22.2);
Chevron ($18.7)

-- Europe: Royal Dutch Shell ($31.3); BP ($20.8); Gazprom ($19.3)

-- Asia: Petronas ($18.1);Toyota Motor ($15); China National
Petroleum ($14.9)

Top Ranked by Performance:

-- Highest Profits (in billions, 2007): Exxon Mobil, $40.6

-- Increase in Revenues (% change from 2006): Tata Steel, 353.2

-- Return on Revenues (2007 profits as a % of revenues): Akzo
Nobel, 69.1

-- Biggest Losses (in billions, 2006): General Motors, $38.7

-- Increase in Profits (% change from 2006): China Life, 1,588.4

-- Return on Assets (2007 profits as a % of assets): Akzo Nobel,
45.4

The Five New Chinese Companies to the List:

-- Aluminum Corp. of China (No. 476)

-- China Communications Construction (No. 426)

-- China Metallurgical Group (No. 480)

-- Lenovo Group (No. 499)

-- Noble Group (No. 349)

About FORTUNE

FORTUNE is a global leader in business journalism known for its
unrivaled access to industry leaders and decision makers. Founded in
1930, FORTUNE magazine has a worldwide circulation of more than 1
million and a readership of nearly 5 million and is home to some of
the strongest business franchises, including: FORTUNE 500, FORTUNE 100
Best Companies to Work For, America's Most Admired Companies, Fastest
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Warner, a leading media and entertainment company.

SOURCE: FORTUNE

FORTUNE Communications
Katy Reitz, 212-522-6724
Katy_Reitz@timeinc.com
or
Rubenstein Communications
Tom Chiodo, 212-843-8289
tchiodo@rubenstein.com

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