The Humane Society of the United States and Salomon Brothers Introduce Humane Equity Fund

Business Wire, Jan 19, 2000

Business Editors

WASHINGTON--(BUSINESS WIRE)--Jan. 19, 2000

In a unique collaboration, The Humane Society of the United States and Salomon Brothers Asset Management today introduced a mutual fund designed to invest exclusively in companies that pass its animal friendly screening process.

The Humane Equity Fund, a 100% no-load portfolio, seeks long-term growth of capital in a way that is consistent with animal welfare concerns.

The fund hopes to provide solid investment results by investing in a blend of growth- and value-oriented common stocks. Fund management will draw upon its quarter-century of experience in socially responsible investing. Using guidelines established by The HSUS, the fund will avoid investing in companies that directly harm animals and their habitats, and specifically will not invest in:

-- pharmaceutical companies;

-- cosmetics companies, if there is a question about the use of

animal testing;

-- companies that use animals in an end product;

-- and companies producing products adverse to the humane treatment

of animals, such as manufacturers of hunting and trapping

equipment.

In addition, the fund will seek to identify and invest in companies whose policies and operations affirmatively promote the humane treatment of animals, provided these investments meet the fund's stock selection criteria.

The HSUS, which relies upon the expertise of Salomon Brothers and other professional mangers for its own investment portfolio, will supply the initial seed investment in the fund and is a consultant to the fund. The Humane Equity Fund is the first investment product with which the 45-year-old animal protection group has been involved.

"The Humane Society of the United States is pleased to be working with Salomon Brothers to create a product that enables our seven million constituents and everyone else who cares about animals an opportunity to invest in a fund that combines an animal protection ethic with the sound investment management of one of the nation's most successful mutual fund companies," said HSUS President Paul G. Irwin. "As a sign of our commitment and confidence, we are pleased to be investing a substantial portion of our own liquid assets - $8 million - in The Humane Equity Fund." Mr. Irwin is also a director of the fund.

Chad Graves, the portfolio manager of the fund, said, "Our mission in managing The Humane Equity Fund is to provide successful investment results and to support the ideals and ethics of animal protection. We are happy to be working with The Humane Society in this effort."

The fund is available without a sales charge by calling 1-877-552-5420. The initial required investment is $1,000. Potential investors are advised to request and read the fund's prospectus, which contains more complete information including charges and expenses, carefully before investing or sending money.

Founded in 1954, The Humane Society of the United States is the nation's largest animal protection organization. With programs in animal research issues, companion animals, farm animals and bioethics, humane education, and wildlife and habitat protection, The HSUS is a tireless advocate for all animals. The organization is funded by membership dues, contributions and bequests; it receives no state or federal monies. As a consultant to the fund, The HSUS will receive a consulting fee of seven basis points from Salomon Brothers Asset Management once the fund's assets reach $50 million. For more information on The HSUS, visit www.hsus.org.

Salomon Brothers Asset Management is a business unit of SSB Citi Asset Management Group (SSB Citi), which is a division of Citigroup. SSB Citi is comprised of the substantial resources available through its three primary asset management business platforms: Salomon Brothers Asset Management, Smith Barney Asset Management and Citibank Global Asset Management. The SSB Citi Asset Management Group companies offer institutional, high net worth and retail clients a broad range of investment disciplines from global investment centers around the world. Products and services offered include mutual funds, closed-end funds, separately managed accounts, unit investment trusts and variable annuities (through affiliated and third-party insurance companies). Aggregate assets under management totaled $364 billion as of December 31, 1999.

Distributor: CFBDS, Inc., NASD Member. CFBDS is not affiliated with The Humane Society of the United States.