NEW YORK, May 16, 2008 /PRNewswire via COMTEX News Network/ -- RiskMetrics Group (ISS) and Glass Lewis Already Supporting Separation of CEO, Chair Positions; Filer Robert A.G. Monks Cites "Growing and Widespread Agreement" For Change at Oil Giant

NEW YORK, May 16 /PRNewswire-USNewswire/ -- The proxy advisory firm Proxy Governance, Inc. is recommending that Exxon Mobil Corporation (NYSE: XOM) shareowners support Proxy Item 5 calling for an independent chairman of the board.

In outlining its support for Item 5, Proxy Governance noted: "While we do not typically support proposals that seek to codify an independent chair and CEO in a company's by-laws, we believe that specific circumstances at ExxonMobil, especially an apparent breakdown in communications with major shareholders at a time when the company faces major strategic decisions, warrant support for this proposal as a way to signal to the company's board that an independent chair would be beneficial at this time."

Proxy Governance, Inc. is the third major proxy advisory firm to encourage ExxonMobil shareowners to vote for Proxy Item 5. The advisory service joins Glass, Lewis and RiskMetrics Group in recommending that shareholders support the proposal. Proxy Governance, Inc. is a leading independent global proxy advisory firm and its voting analyses and recommendations are relied upon by institutional investment funds, mutual funds and fiduciaries throughout the country.

Proposal filer Robert A.G. Monks, a noted shareholder advocate, founder of ISS and co-founder of The Corporate Library, said: "We are very pleased Proxy Governance has joined Glass Lewis and RiskMetrics Group in recommending shareholders vote for Proxy Item 5 calling for an independent chairman at ExxonMobil. This adds considerably to the growing and widespread agreement we are hearing from shareowners on the need for change."

Investor interest in the resolution at ExxonMobil has mounted in the wake of the April 30 news conference featuring members of the Rockefeller Family and an earlier April 23 news conference featuring shareholder advocate Robert A.G. Monks. The events included strong support for the independent chairman resolution from California Controller John Chiang, Connecticut Treasurer Denise Nappier, and Maryland Treasurer Nancy Kopp.

The proponents of Proxy Item 5 have retained Okapi Partners LLC 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.

Investors seeking updates on Proxy Item 5 can visit http://www.exxonforowners.com for more information.

SOURCE Robert Monks, Portland, ME

http://www.exxonforowners.com/

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