Ethos Quarterly Publications as of March 31, 2007

The Ethos Quarterly presents an overview of current issues with regard to responsible investment and active shareholding. In particular, the current issue includes the following articles:

Editorial

• New Chairman at Ethos

Corporate Governance

• Remuneration: Historical Vote in the USA
• How to Vote Without Being Shareholder
• EU Directive on Cross-Border Voting
• Switzerland: Threshold for Declaration of Shareholdings has to Drop

Socially Responsible Investment

• NGO Activism
• Novartis: Legal Action Against Indian Government
• Credit Suisse: Profits from the Destruction of Primeval Forest
• Corporate Principles and Code of Conduct: Up-Date for Switzerland
• Ethos Engagement Pool: Dialogue-Topics for 2007

General Meetings

• Golden Parachutes in Switzerland
• Success for Hewlett-Packard’s Shareholders
• Quarterly Review of General Meetings Analysed by Ethos

The Ethos Investment Focus (only available in French or German) is the management report of the various segments of the Ethos institutional investment fund and of the Pictet-Ethos (CH) Swiss Sustainable Equities investment fund. The continued strong performance of the different Swiss Equity segments (in absolute and relative terms) is particularly noteworthy.