Carl C. Icahn today announced that Institutional Shareholder Services (ISS) has recommended that stockholders of Motorola, Inc. vote their shares FOR the election of Mr. Icahn to the Motorola board of directors on the GOLD proxy card at Motorola's May 7, 2007 Annual Meeting of Stockholders. ISS, one of the nation's leading independent proxy voting advisors, provides voting recommendations to more than 1,500 major institutional funds, mutual funds and fiduciaries.
Noting that "MOT has significantly underperformed its peers over recent quarters and by most accounts is expected to struggle the remainder of the year," ISS concluded that "Icahn has a positive track record for creating shareholder value across a diverse universe of industries" and that "the financial and operational performance of the company and the dissident's skill set and track record establish both the need for change and the dissident's ability to effect change."(1)
"I am gratified that ISS has seen the need for significant stockholder representation on the Motorola board." stated Mr. Icahn. "Motorola has great potential but has recently made some unfortunate decisions. I expect that the broad experience and proven abilities I can bring to the board will benefit Motorola stockholders as the Company works through its problems. The questions I would ask, the conclusions I would reach and the positions I would adopt in the Motorola boardroom would all be grounded in the fact that I am an owner of Motorola and am solely interested in what is best for the Company and it stockholders."
Stockholders who have previously voted Motorola's white proxy card have every right to change their vote and can do so by voting the GOLD proxy by telephone, by Internet or by signing, dating and returning the GOLD card today. Anyone needing assistance in voting their shares may contact Mr. Icahn's proxy solicitor, Innisfree M&A Incorporated, toll-free at 877-825-8772.
SECURITY HOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT, AS AMENDED, RELATED TO THE SOLICITATION OF PROXIES BY CARL C. ICAHN AND CERTAIN OF HIS AFFILIATES FROM THE STOCKHOLDERS OF MOTOROLA, INC. FOR USE AT ITS ANNUAL MEETING BECAUSE IT CONTAINS IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION. THE AMENDED DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY ARE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT HTTP://WWW.SEC.GOV.
(1) Permission from the author has been neither sought nor obtained for the use of these quotations.
Contact:
Icahn Partners LP
Susan Gordon, 212-702-4309
Source: Carl C. Icahn
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