New WRI Study Documents Competitive Re-Alignment In Global Auto Industry

WASHINGTON--Oct. 2, 20039, 2003--

World Resources Institute (WRI)

WHAT:   The World Resources Institute (WRI) and Sustainable Asset 
        Management (SAM) release a new study, Changing Drivers: The 
        Impact of Climate Change on Competitiveness and Value Creation
        in the Automotive Industry.

        The new report examines how the value of the world's leading 
        auto companies will be affected by emerging global policies 
        about the auto industry's role in climate change. It offers 
        insight to investors on how to make better-informed decisions 
        on the future of the auto manufacturers in light of emerging 
        global policies regarding the auto industry's role in climate 
        change.

WHEN:   Wednesday, October 29, 2003 from 10:30-11:30am
        (A light lunch will be served)

WHERE:  World Resources Institute
        10 G Street, NE, 8th Floor, Washington, DC
        (Red Line Metro: Exit at Union Station. WRI is between North 
        Capitol and First St., NE.)

WHO:    Jonathan Lash, president, World Resources Institute

        Duncan Austin, senior economist, World Resources Institute, 
        author of Changing Drivers

        Amanda Sauer, associate, World Resources Institute, co-author 
        of Changing Drivers

WHY:    As a growing number of countries adopt measures to address 
        climate change, auto company profits will become increasingly 
        sensitive to these pressures and will be forced to reduce 
        vehicle carbon dioxide (CO2) emissions and improve fuel 
        economy. Investors and portfolio managers will need to start 
        considering these influences and their impact on company 
        finances when selecting stocks for long-term investments.

        With three new economic indicators introduced in Changing 
        Drivers, WRI and SAM have quantified the respective 
        competitive positioning of 10 leading automotive companies as 
        they face increasing political pressures to reduce vehicle 
        carbon dioxide (CO2) emissions and improve fuel economy. The 
        auto companies included in the study are BMW, 
        Daimler-Chrysler, Ford, General Motors, Honda, Nissan, 
        Peugeot, Renault, Toyota, and Volkswagen.