PRESS ADVISORY

Contact:
Shelley Alpern
Vice President, Trillium Asset Management
(617) 292-8026, x 248

BOSTON – December 6, 2007. In response to energy giant BP’s announcement yesterday that is acquiring a major interest in the Canadian oil sands, Trillium Asset Management Corp. (“Trillium”) released the following statement:

Trillium Asset Management is deeply disappointed in BP’s entry into the Canadian oil sands business. On a comparative basis, oil sands development offers some of the worst life-cycle carbon emissions of all the fossil fuels. The rush for oil sands has also led to the deforestation of 40% of the Canadian boreal forest, which serves as the breeding ground for 30% of North American songbirds and 40% of our waterfowl; creates enormous pressure on the region’s freshwater rivers and wetlands; and imposes the threat of groundwater contamination from tailing ponds that collectively encompass almost 20 square miles of land. These environmental pressures threaten the region’s ecological balance, the traditions and culture of Alberta’s indigenous peoples, and the quality of life of all Albertans.

This is a disturbing step backwards for BP, which has been among the most ‘green’ and innovative energy companies.

Earlier this month, Trillium and Green Century Capital Management became the first U.S. investors to file stockholder proposals addressing the environmental and social impacts of oil sands development in Alberta (see attached), at ConocoPhillips and Chevron, respectively.

Trillium Asset Management Corporation has been a leader in the social investment field for over twenty years. We are guided by a belief that investing can return a profit to the investor, while also promoting social and economic justice. Trillium manages $1 billion in investments for a broad array of individuals and institutions. Trillium is the sub-advisor of Green Century Capital’s Balanced Fund.

Green Century Capital Management is an investment advisory firm focused on environmentally responsible investing. Founded by a partnership of non-profit environmental advocacy organizations in 1991, Green Century’s mission is to provide people who care about a clean, healthy planet the opportunity to use the clout of their investment dollars to encourage environmentally responsible corporate behavior. Green Century believes that shareholder advocacy is a critical component of responsible investing and actively advocates for greater corporate environmental accountability.

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Shareholder Proposal at ConocoPhillips
Filed by Trillium Asset Management Corp., December 2007

WHEREAS

ConocoPhillips has considerable interests in oil sands operations in the Canadian boreal forest that mine and upgrade bitumen. ConocoPhillips holds a 9% interest in Syncrude, a joint venture expected to produce 350,000 barrels/day by 2010, and is the operating partner of the Surmont oil sands joint venture project, with a 50% equity stake (potential production: 200,000 barrels per day).

The boreal provides critical climate regulation and carbon storage for the earth as a whole. This ecosystem is the breeding ground for 30% of North American songbirds and 40% of our waterfowl.

Industrial logging and oil sands have reduced it to less than 40% of its original size; the remaining forest is fragmented, with harmful impacts on many species. According to the Canadian Parks and Wildness Association, it will take over 300 years before reclaimed areas become functioning forest again. The UN Environmental Program has identified the Canadian boreal as one of the world’s top 100 “hot spots” of environmental change.

Processing oil sands is highly resource intensive and environmentally damaging, requiring the draining of wetlands, diversion of rivers and the removal of all trees and vegetation. Tailing ponds from mining operations cover almost 20 square miles. Their pollutants are acutely toxic to aquatic life and threaten to leak into the groundwater system and surrounding soil and surface water.

Extracting one barrel of bitumen requires 2-5 barrels of fresh water. Less than 10% of the water withdrawn from the Athabasca River is returned, threatening the long term survival of numerous fish, songbird and waterfowl species. Current withdrawals from the Athabasca River for oil sands development are twice the amount used annually by the population of Calgary. The Pembina Institute predicts that withdrawals may increase by 50% within 6 years. Future demand for groundwater is also expected to increase exponentially.

On average, one barrel’s extraction requires enough natural gas to heat a Canadian home for 1.5-5.5 days, and the removal of four tons of earth. While processed sand must be replaced and the site reclaimed, in 40+ years of oil sands operations, not a single acre has received a reclamation certificate from the Canadian government.

Oil sands have made Alberta the largest emitter of industrial pollutants in Canada. They are the fastest growing source of Canada’s greenhouse gas emissions, generating 3x the amount during production as conventional oil. These emissions may more than quadruple by 2015.

RESOLVED

Shareholders request that an independent committee of the Board prepare a report (at reasonable cost and omitting proprietary information) on the environmental damage that would result from the company’s expanding oil sands operations in the Canadian boreal forest. The report should consider the implications of a policy of discontinuing these expansions and should be available to investors by May 2009.

SUPPORTING STATEMENT

The requested report should discuss the intense environmental and social impacts of oils sands operations that occur despite best efforts at mitigation, including: greenhouse gas emissions, water resources, biodiversity, and social impacts upon Albertans, including indigenous populations.

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Shareholder Proposal at Chevron Corp.
Filed by Green Century Capital Management, Inc., November 2007

Whereas

Chevron holds a 20% interest in the Athabasca Oil Sands Project and a 60%
interest in the Ells River Oil Sands Project. Both of these projects in the
Canadian boreal forest are scheduled to expand dramatically in the coming
years.Processing oil sands is highly resource intensive and environmentally damaging,
requiring the draining of wetlands, diversion of rivers, the removal of trees and
vegetation, and the emission of greenhouse gasses. Tailing ponds from mining
operations cover almost 20 square miles of forest and bogs. Their pollutants are
acutely toxic to aquatic life and are known to leak into the groundwater system,
surrounding soil, and surface water.

Oil sands have made Alberta the largest emitter of industrial pollutants in
Canada. Oil sands operations are the fastest growing source of Canada’s
greenhouse gas emissions (GHG), generating three times the amount during
production as conventional oil. Under planned expansions, these emissions may
more than quadruple by 2015.

Whereas

The Canadian boreal forest provides critical climate regulation and carbon
storage for the earth as a whole. This ecosystem is the breeding ground for 30%
of North American songbirds and 40% of our waterfowl.

Extracting one barrel of oil requires 2-5 barrels of fresh water, threatening the
long term survival of numerous fish, songbird and waterfowl species. Current
withdrawals from the Athabasca River for oil sands development are twice that
used by the population of Calgary.

Logging and oil sands development have fragmented the boreal, reducing it to
less than 40% of its original size, with harmful impacts on many species.
According to the Canadian Parks and Wilderness Association, it will take over
300 years before reclaimed areas become functioning forest again. The UN
Environmental Program has identified the Canadian boreal as one of the world’s
top 100 “hot spots” of environmental change.

Whereas

The Intergovernmental Panel on Climate Change has said that global emissions
of greenhouse gases will have to reverse by 2015 to prevent serious climate
disruptions.

The increasing likelihood of a carbon cap or carbon taxation regime creates
economic risks for oil sands production, because of its high GHG emissions. By
investing in increased oil sands production, Chevron is essentially betting that the
world will not address the problem of global warming.

More broadly, increasing public concern for the environment creates reputational
risks for companies engaged in oil sands production.

RESOLVED

Shareholders request that an independent committee of the Board prepare a
report, at reasonable cost and omitting proprietary information, on the
environmental damage that would result from the company’s expanding oil sands
operations in the Canadian boreal forest. The report should consider the
implications of a policy of discontinuing these expansions and should be
available to investors by the 2009 annual meeting.

SUPPORTING STATEMENT

Despite the best efforts at mitigation, producing bitumen from oil sands in the
Canadian boreal will have environmental and social impacts. The requested
report should discuss these impacts, including impacts on greenhouse gas
emissions, water resources, biodiversity, and social impacts on Albertans,
including indigenous populations.

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