May 19, 2008 - A shareholder rebellion over climate policy at the world's biggest oil company has gained new momentum with the support of four leading British institutional investors. F&C Asset Management, Co-operative Insurance Society, Morley Fund Management, and West Midlands Pension Fund - four Europe's largest institutional investors - have publicly voiced their support for Proxy Item 5, which calls for ExxonMobil to stimulate greater debate on the climate issue by separating the roles of chief executive and board chairman.

"Despite top-notch individual directors, the company's record over the last decade, particularly regarding climate change, demonstrates that debate has been lacking," says Karina Litvack, director of governance and sustainable investment at F&C Asset Management. "By bringing in an independent chairman, the company can better leverage that creativity and challenge, and avoid over-dominance by management."

ExxonMobil continues to lag behind others in the oil industry on capital investment for renewable energy projects.

The international investors are only the latest voices to be added to those calling for an independent chairman at ExxonMobil. Four leading global proxy advisory firms - PIRC Ltd., RiskMetrics Group, Glass Lewis, and Proxy Governance, Inc. - have each recommended investor clients support Proxy Item 5.

The shareholder vote to separate the chief executive and board chairman positions at ExxonMobil will take place at the company's annual meeting on May 28 in Dallas, Texas.