NEW YORK- June 7, 2007 "“ Innovest Strategic Value Advisors, Inc., the global leader in analyzing extra-financial sources of investment risk, has released its most recent report on the Electric Utilities "“ International Sector.

Downloadable reports for companies in the sector and more are available for purchase through Innovest's partner www.csrwire.com/reports/independent

The Electric Utilities "“ International sector is faced with a distinct set of extra-financial risks and opportunities. Of all of the sectors analyzed by Innovest, this is the one with the largest exposure to near-term climate change-driven risks due to the fact that a majority of sector constituents are based in Europe. Of the 33 companies in the report, top sustainability performers with AAA ratings included Iberdrola, Red Electric De Espana, Fortum Corp. and Scottish & Southern Energy PLC. Laggards included Public Power Corporation and Huaneng Power International Inc.

The report is divided into two main sections. The first half of the report provides an overview of the core extra-financial industry trends impacting the Electric Utilities "“ International sector. The second half of the report provides an analysis of the key environmental, social and governance value drivers and performance indicators in the areas of environment, strategic governance, human capital and stakeholder capital. In addition, the report presents company best practices in each of these four areas which enables investors to gain insight into what companies are actually doing to minimize their risk exposure in these areas. Innovest Utilities Analyst Karima Esmail notes, "Because the electric utility industry is emission intensive, these best practices are especially insightful as companies try to cope with tightening regulatory frameworks and regulations surrounding GHGs and CO2 emissions."

This rating period saw the top renewables player in Spain, Iberdrola, acquire its UK-based rival, Scottish Power, in a move that could spell positive news for the global renewable energy industry. This merger created Europe's third largest power company by market capitalization. Ms. Esmail notes, "Both firms were rated AAA by Innovest and in both cases we note strong commitments to the deployment of renewable energy generation in certain key markets. We view the merged entity’s exposure to Spain and the UK, in particular, as very positive from a renewables standpoint and this could be the first steps towards the creation of a global renewables leader."

About Innovest

Innovest Strategic Value Advisors is an internationally recognized investment research and advisory firm specializing in analyzing companies' performance on environmental, social, and strategic governance issues, with a particular focus on their impact on competitiveness, profitability, and share price performance. By assessing differentials typically not identified by traditional securities analysis, Innovest's IVA ratings uncover hidden risks and value potential for investors.

Innovest was judged the #1 global provider of "extra-financial" research in the Thomson Extel 2006 survey of institutional investors.

Innovest Strategic Value Advisors, Inc.

Innovest Strategic Value Advisors, Inc.

Innovest Strategic Value Advisors is an internationally recognized investment research and advisory firm specializing in analyzing companies’ performance on environmental, social, and strategic governance issues, with a particular focus on their impact on competitiveness, profitability, and share price performance. Innovest currently has offices in New York City, Toronto, San Francisco, London, Paris, Sydney, and Tokyo.

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