Califor. Public Employees Invested in Tyson Slaughter

please forward this to California animal rights activists,
animal groups and media

California Public Employees : Pension Checks Full of Blood Calpers:
DISINVEST FROM SLAUGHTER
----------


CALPERS FIGHTS TO END DUAL
CLASS STOCK AT TYSON FOODS, INC.


SACRAMENTO, CA - The California Public Employees' Retirement System
(CalPERS) announced today that it has issued a call to shareowners at
Tyson Foods, Inc. in an attempt to end Tyson's dual class stock structure.

In a letter to Tyson shareowners holding more than 5,000 shares of the
company's stock, CalPERS asked for an affirmative vote on the pension
fund's shareholder proposal - item #2 on the proxy - that would urge
Tyson's board of directors to recapitalize the company's dual class
stock structure and eliminate differential voting rights.

CalPERS believes that the dual class stock structure dis-enfranchises
shareowners, severely restricting their ability to exercise their
ownership rights in the company.

"An investment in Tyson has been dead money," wrote James E. Burton,
former Chief Executive Officer for CalPERS. "Our proposal asks the
board of directors to reorganize Tyson's equity into a single class of
stock providing one share, one vote for all shareholders. Tyson's
Class B shares effectively insulate management from accountability to
shareholders. Given Tyson's long-term performance, we can not accept
that the Tyson family always knows best."

Tyson's performance in recent years had been lackluster. According to
the company's proxy statement, $100 invested in Tyson Class A shares
in September 1994 would have been worth $105 in September 1999.
Meanwhile the same $100 invested in the S&P 500 Index would have
appreciated to $305.

It was apparent that Tyson didn't want their shareowners to vote on
this issue. The company asked the U.S. Securities and Exchange
Commission (SEC) for a "no action" letter that would bar the CalPERS
shareholder proposal from the company's proxy. The SEC rejected
Tyson's arguments against the proposal.

In April 1999, CalPERS named Tyson Foods to its corporate governance
focus list of financial underperformers, noting its poor performance,
use of a dual class stock structure, and its board that it has been
dominated by family, insiders, and affiliated directors in recent years.

CalPERS owns approximately 1.8 million shares of Tyson stock valued at
more than $29 million.
CalPERS' letter to Tyson shareowners and the shareholder proposal
itself can be found on the pension fund's corporate governance Web site.

CalPERS is the nation's largest pension fund with assets totaling more
than $150 billion. The System provides retirement and health benefits
to more than 1 million state and local public employees and their
families.