Investments in Iran

From Molly Janczyk, June 23, 2007
Subject: From ORTA: Iran/Sudan Related Companies: HB151

I received this from ORTA: Ann Hanning! Thank you, Ann!

I received a list of 74 companies in the mail from ORTA which was shared at the June 20. 2007 ORSC (Ohio Retirement Study Council) meeting. ORSC oversees the 5 Ohio Pension Systems. The note was :

'Molly, FYI: This was shared at the ORSC meeting, 6/20/07. Ann'

ORSC: www.orsc.org for detailed info and comparisons of the 5 systems.

Each system's rate of return for its international equity portfolio was included as of 12/31/06 for the past one, three and five year periods compared to the rate of return for its direct holdings in companies on the ISS list for the same periods.

International equity indices for developed markets and emerging markets with and w/o the companies appearing on the list is shown for the past 1,35 year periods for comparative purposes.

STRS Ohio Internat'l Return:

1 year: +25.01%
3 year: +23.72% per year
5 year: +17.62% per year

Returns of any of those 74 Iran/Sudan companies that were owned by STRS Ohio that are included in the STRS Ohio actual International Return:

1 year: +34.71%
3 year: +36.70% per year
5 year: +33.32% per year

Summary of STRS Exposure to Iran and Sudan Companies as of 12/31/06: 35 companies including some on lists from other day AND: Samsung, Rolls Royce, Mitsubishi, Oil & Nat'l Gas Commission to name some of the more recognizable companies.

These companies as reported by Steve Mitchell have no goal of sustaining or supplying terrorists with money and are companies who do business in Iran and Sudan providing jobs for citizens.

The STRS total holdings amount for these 35 companies is: $1,282,960,193.18 which would be affected of our money.