DANBURY, Conn., March 7, 2005 — Praxair, Inc. (NYSE: PX) has received the highest rating of 10 for corporate governance from Governance Metrics International (GMI) for the fourth consecutive time. GMI is a leading independent governance research and ratings agency. Only 34 companies out of a total of 3,220 companies worldwide received the top rating in the most recent ratings cycle, and only four companies have received the top score in four consecutive cycles.
GMI's rating system covers more than 600 data points in seven categories, including board accountability, disclosure, executive compensation, shareholder rights, ownership base, takeover provisions and corporate behavior and social responsibility. GMI ratings are used by institutional investors in Europe and North America for risk evaluation and portfolio screening, among other purposes.
"We place the highest importance on integrity and transparency in our governance practices at Praxair," said Dennis H. Reilley, chairman and chief executive officer of Praxair. "We intend to maintain our leadership in this area."
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2004 sales of $6.6 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.
Susan Szita Gore