Malaria Capital Campaign puts business to work

100 Million corporate effort to spur progress in the fight against malaria

Davos, SWITZERLAND – Leaders in the global business community announced today an unprecedented private-sector initiative to apply sophisticated business skills to help end a global health crisis. The Malaria Capital Campaign will raise $100 million from the business community, philanthropists and sovereign states to help provide everyone at risk in Africa with anti-malaria tools by the end of 2010–the first critical step to ending the nearly one million annual deaths from this preventable, deadly disease.

Three major players in the corporate community, Peter Sands (Group Chief Executive of Standard Chartered Bank plc and Vice Chair of the Global Business Coalition on HIV/AIDS, TB and Malaria), Rex Tillerson (Chairman and CEO of ExxonMobil), and Peter Chernin (President and COO of News Corporation and Chairman of Malaria No More), are teaming up to raise and deploy funds from the private sector as co-chairs of the Malaria Capital Campaign.

This is a landmark project, as three leaders in the energy, financial and media industries unite their best practices and core competencies in pursuit of a single common goal: ending malaria deaths. The campaign is orchestrated by the Global Business Coalition on HIV/AIDS, Tuberculosis and Malaria (GBC) and Malaria No More, two leading non-profit organizations that engage businesses, government leaders, the general public and others in the fight against malaria.

"At Davos this year it is right that we focus on the global financial system," said Peter Sands, who is Chair of the Financial Services Governors at this year's World Economic Forum. "But we must not ignore other global challenges such as malaria. Now is the right time to invest in ending malaria deaths, a goal that's finally within our grasp with prospects of remarkable social returns."

As the world scrambles to cope with crumbling financial markets and the threat of a prolonged recession, corporate leaders are signalling that investments in malaria control should in fact increase, given the remarkable opportunity for a high return in both economic and human terms.

Malaria is considered one of the most cost-effective health investments in the world, and in countries with intensive malaria, like most in sub-Saharan Africa, a 10% reduction in malaria has been associated with 0.3% higher economic growth per year. The opportunity to end malaria deaths is here–and the world cannot afford to let it pass.

"In addition to the tragic human impact, malaria stifles economic development in the African economy by an estimated $12 billion every year," said Mr. Tillerson, whose company has dedicated more than $130 million for Africa community outreach programs since 2000, including $54 million for programs to fight malaria. "The battle against malaria is important to all of us at ExxonMobil, and I am pleased to help lead this vital public health initiative."

The Malaria Capital Campaign was established with gifts of $10 million from Exxon Mobil Corporation and a joint gift of $28 million from Marathon Oil Corporation and the Republic of Equatorial Guinea. It is a project of the Global Business Coalition on HIV/AIDS, Tuberculosis and Malaria and of Malaria No More.

"We have the tools to achieve the first great humanitarian success story of the 21st century," said Mr. Chernin. "The Malaria Capital Campaign is designed to harness the leadership and expertise of the business community to help the world reach this goal."

Thanks to record funding commitments from international partners including the World Bank and the Global Fund to Fight AIDS, Tuberculosis and Malaria, the government of the United Kingdom, and the U.S. President's Malaria Initiative, significant public sector resources are now available to effectively combat the disease. The Malaria Capital Campaign will fund a portfolio of integrated and strategic initiatives to leverage this public financing and fill gaps using business principles to effectively get life-saving interventions to the people of Africa.

The goal is to ensure achievement of 2010 universal coverage targets by incorporating private-sector practices in the malaria fight and filling funding gaps in the Global Fund's grant commitments. In addition to contributions for national malaria control programs through the Global Fund, the Campaign will fund direct investments to strengthen country capacity, streamline country delivery systems, and create community mobilization programs. Many such activities offer opportunities to tap business core competencies for public health impact.

Approximately one million people die of malaria every year, most of them young children in Africa. However, a combination of available tools and resources have inspired unprecedented momentum in the global effort to end malaria deaths, including effective mosquito nets and advanced medicines; record funding commitments that have more than tripled previous spending; surging political support in countries across the globe; and extraordinary on-the-ground successes in Africa.

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Notes to Editors

About Malaria No More

Malaria No More is determined to end malaria deaths. A non-profit, non-governmental organization, Malaria No More makes high-yield investments of time and capital to speed progress, unlock resources, mobilize new assets and spur the world toward reaching this goal.

About the Global Business Coalition on HIV/AIDS, Tuberculosis and Malaria (GBC)

The Global Business Coalition on HIV/AIDS, Tuberculosis and Malaria is a coalition of more than 220 companies united to keep the fight against these epidemics a global priority. The Coalition provides tailored support so that companies can take an active role in defeating the pandemics. The Coalition also organizes collective actions among companies and links the public and private sectors in ways that pool talents and resources. The official focal point of the private sector delegation to the Global Fund to Fight AIDS, Tuberculosis and Malaria, the Coalition maintains offices in New York, Paris, Johannesburg, Beijing, Nairobi and Moscow.

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of whom are women. The Group's employees are of 115 nationalities, of which 60 are represented among senior management.

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