MEDIA ADVISORY: Cross-Border M&A -- Heading Off a Protectionist Backlash


WASHINGTON, DC--(Marketwire - April 3, 2008) -


WHAT:  Press briefing on a new study by United States Council
       Foundation: "Investment Subsidies for Cross-Border M&A: Trends and
       Policy Implications"

WHO:   Dr. Gary Hufbauer, senior fellow, Peterson Institute for
       International Economics

WHEN:  Thursday, April 10, 2008
       9:00 - 10:00 a.m.

WHERE: National Press Club
       Lisagor Room
       529 14th Street, N.W.
       Washington, D.C.

MEDIA: RSVP STRONGLY ENCOURAGED BY 2 P.M., WEDNESDAY, APRIL 9
       Contact: Jonathan Huneke, United States Council for
        International Business
       +1 212-703-5043 (office), +1 917 420-0039 (mobile),jhuneke@uscib.org
       Embargoed advance copies of the study are available upon request

With international rules to ensure the transparency of sovereign wealth funds in the works, the attention of policy makers is likely to turn to a related, but under-appreciated, issue: subsidized foreign takeovers of U.S. companies. What are the implications when a foreign company, backed by financial support from its home government, purchases a U.S. firm? And what actions should be taken to ensure a level playing field while maintaining fundamental market openness?

A new study from the United States Council Foundation, the research and educational arm of the United States Council for International Business (USCIB), investigates several recent cases of subsidized finance in cross-border M&A transactions, and suggests corrective measures that should be taken to head off the possibility of protectionist overreaction to subsidized investments. The paper is authored by Gary Hufbauer and Thomas Moll of the Peterson Institute for International Economic, and Luca Rubini of the Birmingham Law School (UK).

The United States Council Foundation is a private 501(c)(3) organization affiliated with USCIB. It was organized to undertake educational activities to promote the benefits of a free market economy, to demonstrate and document the role of the corporate private sector in economic growth and social development, and to advance sustainability in environmental management. More information is available at www.uscouncilfoundation.org.

USCIB promotes an open system of global commerce. Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion. As American affiliate of the leading international business and employers' organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade. More information is available at www.uscib.org.

Contact Information: Contact: Jonathan Huneke United States Council for International Business +1 212-703-5043 (office) +1 917 420-0039 (mobile)