WHEREAS, this resolution's proponents are convinced overwhelming scientific evidence demonstrates that fossil fuel burning contributes to global warming.

--Despite this evidence, Exxon's management has led efforts to undermine national and international responses addressing the problem:

1.    At last year's annual meeting shareholders had the opportunity to vote on the same resolution contained on these pages.  However Lee R. Raymond states (in regard to global warming): "What is perfectly clear is that 'nothing is clear.'  There needs to be continuing public debate."  On the one hand, management says it wants a debate; on the other, it has gone to the Securities and Exchange Commission trying to keep shareholders from voting on this resolution.

2.    The proponents of this resolution believe management's position is inaccurate, short-sighted and potentially damaging to the long-term financial interests of this company.

3.    Last year, management urged shareholders to vote against the resolution, claiming without substantiation that "cuts in fossil fuel use . . . would severely damage economies, industry and jobs."  Yet 2000 economists have stated "the United States would be able to reduce its emissions to slow global warming without damaging the economy" (WP 2/14/97).

4.    Management is part of large-scale and highly-funded efforts to undermine public policy which is trying to address the issue of human causation in global warming.

5.    The top two U.S. automobile companies have begun to make changes in their products which recognize the need to have less emissions from the burning of fossil fuels.

6.    Two of the largest European fossil fuel companies, Royal Dutch Shell and British Petroleum, have already begun making decisions for their long-term growth which factor in the conclusions of the scientific comminity warning about the effect of fossil fuel combustion on global warming.  John Browne, Group Chief Executive of BP America has stated: "The time to consider the policy dimensions of global warming is... when the possibility cannot be discounted... We in BP have reached that point."

--Such an admission from an executive of a major competitor in the fossil fuel industry should have led Exxon's management to seriously re-examine the issue.  Despite this, management continues to share with concerned shareholders and others only those opinions of scientists that agree with management's position.  Many of these studies and/or scientists have been funded by management.  We know of no case where such "evidence" regarding the burning of fossil fuels and global warming being proffered by such scientists has been subject to peer review.

RESOLVED:  Shareholders request the Board to create a committee of outside directors to independently review and issue (at reasonable cost and omitting proprietary information) a full report to shareholders by August, 1999 regarding the impact of global warming on our company's policies and practices.  We recommend the following issues to be included: 1) any anticipated liabilities Exxon may incur from its possible contribution to the problem; 2) what Exxon can do to reduce carbon dioxide emissions from our fossil fuels.

If you agree, please vote "yes" for this resolution.