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Congressman Cole Awarded Friend of the Shareholder Award

September 24, 2004
Press Release

Washington, D.C. – American Shareholders Association (ASA) awarded Representative Tom Cole with its annual Friend of the Shareholder award for siding with investors on important shareholder and economic issues in the 108th Congress. The award was given to Rep. Cole during a ceremony last week in the U.S. Capitol.

"I am very pleased to receive this award and very proud of my votes to protect the more than 80 million Americans who now own shares of directly held stock, mutual funds, or 401(k) retirement plans. Today, over 52 percent of households own stock. Investors contribute a great deal to our economy and I will continue to work to protect their interests," Congressman Tom Cole said.

U.S. Representatives receive the award for scoring 80 and higher, out of a possible 100, on ASA's annual congressional scorecard. The scorecard measures a Representative's record on important investor and economic issues. Rep. Cole scored 90 on the scorecard.

"2004 legislative votes reflected Congress' intention to eliminate inefficiencies in the economy that were reducing shareholder value," said ASA executive director Daniel Clifton. "The Friend of the Shareholder award demonstrates Rep. Cole stood on the side of investors during this critical time by voting for pro-growth, pro-investor legislation which has boosted investor confidence and shareholder value for Oklahoma shareholders."

Votes in the year's ratings included preserving the use of stock options, opening up new trade opportunities, tort reform, personal reemployment accounts, Alternative Minimum Tax relief and international tax reform. All ten of the measures seek to increase shareholder value and allow for more workers to become investors.

"Last year's tax cut, aimed directly at the growing investor class in America, reflects the changing demographics of America's economy and electorate," continued Clifton. "With more than 50 percent of households and nearly two-thirds of American voters invested in the market, the new investor majority continues to play a greater role in the public policy decisions facing Congress. Rep. Cole's voting record demonstrates an avid commitment to protecting Oklahoma shareholders and enhancing economic growth in America."