PRESS RELEASE FROM FBC

[moe@xxxxxxxxxxxxx]

The Free Burma Coalition
225 North Mills Street
Department of Curriculum and Instruction
Madison, WI 53706
U.S.A.
	
Immediate Release				May 9, 1997

The University of Wisconsin divests from Texaco 

Madison, WI:   The University of Wisconsin System has divested itself of
Texaco stocks amidst a concerted campaign by students, local politicians,
and community leaders for immediate divestment from Burma.  

Wisconsin is the first university in the world to divest itself from a
multinational corporation that does business with Burma's dictatorship.
Since 1994, the UW owned 11,000 shares of preferred stock, worth $239,000,
in Texaco Corp.  It was a leader in the divestment campaign against apartheid.

Regent Jonathan Barry stated," Divestment from Texaco is consistent with the
current investment policy of striking a balance between getting (financial)
returns and respecting ethics."  Another Regent Sheldon Lubar added that he
believed Burma's dictatorship, namely the State Law and Order Restoration
Council (SLORC), is "repugnant" and that the UW has a duty to divest from
the Texaco corporation, which currently finances SLORC.

For the past two years, the Madison-based Free Burma Coalition has launched
its local divestment campaign pressuring UW Regents to divest from Texaco.
Local community activists, lawmakers, and students fully supported the Free
Burma divestment campaign.

"The Regents' action sends a clear signal that making profit off other
people's oppression is unconscionable,"  said Burmese exile and UW graduate
student Zarni, who coordinates the coalition via Internet.  "I hope other
universities will follow Wisconsin's lead in pressuring multinationals to
withdraw from Burma," added Zarni  

Texaco is among the oil corporations that have come under public pressure to
withdraw from Burma, where the ruling junta routinely commits serious human
rights abuses including forced labor, the use of civilian as mine sweepers,
ethnic cleansing, rape, and torture.  The others include Unocal, ARCO, and
Total.
 
Currently, Texaco is involved in a natural gas concession off the coast of
Burma in the Andaman Sea.  

Contact: Peter D. Fox	(608)-262-6448 for UW Regents
	    Zarni 		(608)-827-7734 or 233-2199

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__________________
WHEN SPIDERS UNITE THEY CAN TIE DOWN A LION.
		-- (Ethiopian Proverb)

The Free Burma Coalition
225 North Mill Street
Department of Curriculum and Instruction
Madison, WI 53706

Tel: 608-827-7734
Fax: 608-263-9992
Websites: http://freeburma.org  and   http://wicip.org/fbc/