EthInves ver 2.0
		   The On-disk Almanac of Ethical Investing
		   
			 copyright 1988 Jerry Whiting
		       PO Box 20821, Seattle, WA  98102
	 
		 
	 >>> >>> SOUTH AFRICA & SOCIALLY RESPONSIBLE INVESTING <<< <<<
			     
			     
			     >>> Introduction <<<
			     
			     
	 No other facet of the ethical investment movement has
	 received as much attention or had as deep an impact as the
	 divestment movement.  Public outcry and investor pressure has
	 played a pivotal role in pressuring American companies into
	 leaving South Africa.
	 
	 As an investor you must decide what level of involvement with
	 South Africa you are comfortable with.  Many companies have
	 responded to public pressure by ending their direct investment 
	 but continue to profit through franchises, licensing agreements 
	 or other means that let them have their cake and eat it too.
	 
	 On June 3, 1987, Rev. Leon Sullivan abandoned his efforts of
	 trying to influence Pretoria through the examples set by
	 American businesses in South Africa and called for a complete
	 withdrawal.  You must decide for yourself if a company's
	 signing of the Sullivan Principles was a skirt to hide behind
	 or was a sincere effort to bring about progressive change.
	  
	 For interesting, if disheartening, articles on the impact of
	 divestment on South Africa, consult The New York Times,
	 7/27/87, p21; New York Times, 9/7/87, p17; Wall Street
	 Journal, 9/21/87, p20.
	 
	 Five organizations active in the fight against apartheid have
	 recently issued their own "Guidelines for Divestment".  A
	 copy of their statement follows.
	 
		       >>> Guidelines for Divestment <<<
			      >>> signed 1/87 <<<
	 
	 We support an end to all corporate involvement in or with South
	 Africa and Namibia.  A corporation is doing business in or with
	 the Republic of South Africa or Namibia if it, its parent, or its
	 subsidiaries:
	 
	 1) have direct investments in South Africa or Namibia, or have
	 entered into franchise, licensing or management agreements with or
	 for any entity in those countries; or
	 
	 2) are financial institutions that have not prohibited new
	 investments, loans, credits or related services, or the renewal of
	 existing agreements, including those for the purpose of trade,
	 with any entity in those countries; or
	 
	 3) have more than 5% of their common stock beneficially owned or
	 controlled by a South African entity.
	 
	 A company with operations in South Africa or Namibia for the sole
	 purpose of reporting the news shall not be considered doing
	 business in those countries.
	 
		American Committee on Africa
		198 Broadway
		New York, NY 10038
		(212) 962-1210
	 
		American Friends Service Committee
		1501 Cherry St.
		Philadelphia, PA 19102
		(215) 241-7000
	 
		Interfaith Center on Corporate Responsibility
		475 Riverside Drive, #566
		New York, NY 10115
		(212) 870-2936
	 
		TransAfrica
		545 Eighth St. SE #200
		Washington, DC 20003
		(202) 547-2550
	 
		Washington Office on Africa
		110 Maryland Ave NE
		Washington, DC
		(202) 546-796
			       
			       >>> Resources <<<
			       
	 For more information on the anti-apartheid and divestment
	 movements, contact the above groups or:
	 
		Intl. Council for Equality of Opportunity Principles
		1501 N. Broad St.
		Philadelphia, PA 19122
		215 236-675