Press Release

Egan-Jones 2017 Guideline Update and Clarification

Haverford, PA - Egan-Jones Proxy Services ("EJP") today announced an important update and clarification to its proxy voting guidelines for the 2017 Proxy Season.

While most Directors who have served on a Board for more than 10 years will continue to be considered not independent based on tenure alone, a case-by-case exception may be made for Directors from diverse backgrounds in order to maintain and further improve Board diversity.

We expect that this enhancement to a policy that was already designed to promote Board diversity by encouraging turnover at legacy Boards coupled with the actions of other large institutions and funds which are engaging in similar policies will result in Boards with significantly more diverse gender, age, and background than we find today.

See the full updated guidelines at http://ejproxy.com/methodologies.

Comments or questions about the Egan-Jones Proxy Guidelines should be directed to Ms. Magda Pacheco, Manager, Client Relations at Egan-Jones Proxy Services (mpacheco@egan-jones.com).

Media Contact:

Kevin McManus
Egan-Jones Proxy Services
61 Station Road
Haverford, PA 19041
+1-703-982-1083
kmcmanus@egan-jones.com