Vanguard Will Vote Proxy for Sexual Orientation Nondiscrimination

"After discussions with
Equality Forum, Vanguard determined that a supportive workplace for gay and
lesbian employees helps maximize shareholder interest.
Exxon Mobil, number two on the FORTUNE 500 list, is one of only 40 of the
FORTUNE 500 companies that do not provide nondiscrimination protection for gay
and lesbian employees.
Equality Forum's FORTUNE 500 Project, in collaboration with Professor
Louis Thomas of the Wharton School of University of Pennsylvania and Professor
Ian Ayres of Yale Law School, requests FORTUNE 500 companies to specifically
include sexual orientation in their workplace nondiscrimination policies.

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WHERE: West Hollywood City Hall Lobby
8300 Santa Monica Boulevard
West Hollywood

Editor's Note: The press is invited to a "Wedding Cake and
Champagne Reception" immediately following the news conference at The
Abbey Food and Bar, 692 N.com/fortune500.

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"Vanguard is the gold standard for protecting shareholder value," said
Malcolm Lazin, Executive Director of Equality Forum.

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Since its incorporation in 1984, the City of West Hollywood
has championed the rights of same-sex couples. Exxon Mobil, others to be impacted by change in policy

PHILADELPHIA, Following discussions with Equality
Forum, a national gay, lesbian, bisexual and transgender (GLBT ) civil rights
organization, The Vanguard Group has announced that it will vote in favor of
sexual orientation workplace protection in its proxy voting rights.

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WHAT: West Hollywood Mayor John J. In 1985, the
City became one of the first cities in the country to
establish a domestic partnership registry and enacted the
Domestic Partnership Ordinance, which provides equal rights
for domestic partners and married couples. The City wants
to ensure that same-sex married couples are given the same
rights as other married couples . This decision will
influence other mutual funds and positively increase proxy support for sexual
orientation nondiscrimination protection. Today, 460 of the FORTUNE 500 companies (92%)
now protect gay and lesbian employees.

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WHEN: TODAY, March 14, 2005
5:30 p . Robertson Boulevard, West Hollywood."
"We believe that fully inclusive employment policies may be reasonably
expected to contribute positively to shareholder value," said Glenn Booraem,
Principal + Assistant Fund Controller for Vanguard.

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. Vanguard
is the nation's second-largest mutual fund company , managing approximately
$880 billion in assets.

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WHO: West Hollywood City Council; leaders of the Gay, Lesbian,
Bisexual and transgender community; supporters of same-sex
marriages.

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News Conference to be held TODAY at 5:30 p.

ABOUT EQUALITY FORUM
Equality Forum is a national nonprofit and 501(c)(3) GLBT organization
headquartered in Philadelphia.

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ADVISORY/City of West Hollywood Celebrates Ruling by California Superior Court Judge That Same-Sex Marriages Are Protected by the United States Constitution

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in the West Hollywood City Hall lobby, 8300 Santa
Monica Boulevard.

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Vanguard's letter stating their policy change, along with more information
on the FORTUNE 500 Project, can be found at:
http: //www. Equality Forum undertakes high impact
initiatives, produces documentary films, highlights GLBT history and presents
annually the largest national and international GLBT civil rights forum.

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With 149 million shares, Vanguard is the fourth-
largest institutional holder of Exxon Mobil shares.

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Duran, Mayor Pro Tempore Abbe
Land, members of the West Hollywood City Council and
Equality California will celebrate a San Francisco County
Superior Court Judge 's ruling today that withholding
marriage licenses from gays and lesbians is unconstitutional
at a news conference this afternoon, March 14, 2005 at 5:30
p.m.

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The legal milestone, if upheld on appeal,
would pave the way for California to follow Massachusetts in
allowing same-sex couples to wed. At
the start of the project in 2003, 323 companies (65%) provided
nondiscrimination protection.

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News Editors/Community Editors
ADVISORY.equalityforum .