The Walker Review - A Moment to Pause and Study

LONDON, November 26 - The Investor Relations Society believes that the Walker Review gives
companies and their stakeholders an important opportunity to consider how to
improve the process of communication between them. The Investor Relations
Society, which represents over three quarters of the UK's largest public
companies, believes strongly in the value of engagement between issuers and
investors and supports proportionate regulation that promotes equity and
fairness.

The Society believes that the role of Investor Relations is central to
the management of the relationship between companies and their shareholders
in terms of providing boards and investors with the information and insights
they need to make informed decisions about their business and investment
strategies respectively.

The Society will now be studying the recommendations for enhanced
communication and engagement by institutional shareholders and the
development of the Stewardship Code. The Society believes that a code of best
practice for issuers should also be developed and will be working with its
members to promote this.

    Contacts: The Investor Relations Society
    Richard Davies - Chairman +44(0)20-7492-0501
    Michael Mitchell - General Manager +44(0)20-7379-1763

Contacts: The Investor Relations Society, Richard Davies - Chairman +44(0)20-7492-0501, Michael Mitchell - General Manager +44(0)20-7379-1763