Released on: October 30, 2007, 6:58 am

Press Release Author: Covalence SA

Industry:

Press Release Summary: Geneva-based Covalence is publishing today its quarterly
ethical reputation ranking, giving the best ranked companies as well as those
companies which have made the most progress in the third quarter of 2007.

Press Release Body: Geneva-based Covalence is publishing today its quarterly ethical
reputation ranking, giving the best ranked companies as well as those companies
which have made the most progress in the third quarter of 2007. An overview of hot
issues across sectors is also given.

The main results across sectors are:

> Unilever, Toyota and HSBC top EthicalQuote ranking

> Toyota, Coca-Cola and IBM register best progress during Q3 2007

> Wal-Mart, Coca-Cola and Toyota show best Reported Performance

Twenty multinational companies are analyzed in ten major sectors; the top ten
performing companies are ranked in each category: Best EthicalQuote Score (positive
minus negative news, cumulated from 1 January 2002 to 30 September 2007), Best
Ethical Progress (positive minus negative news, cumulated from 1 July to 30
September 2007) and Best Reported Performance (positive news only, cumulated from 1
July to 30 September 2007).

Best EthicalQuote Score and Best EthicalQuote Progress are given by confronting
positive and negative news. Best Reported Performance is calculated by quantifying
positive news only - it shows how companies report on their ethical performance
without considering criticisms and demands. Some companies being highly targeted by
activists have a low EthicalQuote Score while at the same time ranking high in terms
of Reported Performance. We can assume that "ethical demands" (negative news i.e.
stakeholder issues, campaigns, expectations) stimulate "ethical offers" (positive
news i.e. initiatives, reporting, communication by companies).

The full Press Release can be accessed online:
http://www.covalence.ch/docs/CovalenceEthicalRankingQ3-2007_PressRelease_25.10.2007.pdf


Web Site:
http://www.covalence.ch/docs/CovalenceEthicalRankingQ3-2007_PressRelease_25.10.2007.pdf


Contact Details: Covalence SA 1, avenue Industrielle, CH-1227 Carouge Geneva
Switzerland

Tel: +41 (0)22 800 08 55 ; Fax: +41 (0)22 800 08 56

antoine.mach@covalence.ch