Union Applauds Recommendation on Crown Central Petroleum by Shareholder Advisor

NASHVILLE, TENN., DEC. 14 -- THE PAPER, Allied-Industrial, Chemical and Energy Workers International Union (PACE) today applauded the recommendation of Institutional Shareholders Services (ISS), which advises institutional shareholders, to withhold votes on all the nominees to the board of Crown Central Petroleum. The focus of the "withhold" recommendation is four "inside" board members who have been nominated to replace four "outside" board members who are leaving.

"The complexion of the board will be drastically altered from a board consisting of a majority of independent outsiders to a board composed of insiders," said the ISS in a report it released. "Adding more insiders on the board will severely reduce board independence and cause potential conflicts of interest."

"Crown is sending the wrong message to shareholders and is acting like a privately-held company that is run solely in the interests of the Rosenbergs," said PACE Director of Special Projects Joe Drexler. "Snubbing their nose at shareholders, other than those controlled by insiders, is consistent with the behavior of this company."

PACE is engaged in a protracted campaign against Crown to end an almost five-year lockout of 252 PACE members at the company's main refinery in Pasadena, Texas. An AFL-CIO backed boycott of Crown, Fast Fare and Zippy Mart convenience stores and gasoline stations is in effect in the South and along the Atlantic coast.

Crown's shareholder meeting will occur today at 2:00 p.m. in Ellicott City, Md. Information on Crown shareholder issues can be obtained at www.crownboycott.org