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NEW YORK, NY, August 19, 2004 --/WORLD-WIRE/-- announces the 2004 SB20 list - The World's Top Sustainable Stocks. The list is presented in the The Progressive Investor newsletter, published by, which tracks this emerging marketplace.

To choose the 20 companies that make up the list, asked five leading social/ environmental investment analysts to recommend companies that stand out as the world leaders in terms of both sustainability and financial strength.

"Our goal is to create a list that showcases the top public companies leading the way to a sustainable society," says Rona Fried, Ph.D., CEO and Editor of The Progressive Investor.

Novozymes, Herman Miller, Swiss Re and Electrolux and Triodos Bank represent sustainable business at its best. Sustainability is wrapped around each of their business models. Each company is acutely aware of the ecological crisis and its role in ameliorating it. What sets them further apart though is that they each take a public stand for sustainability in their respective industries and are helping their industry as a whole make the transition.

Many of the companies are leading their respective industry toward sustainable practices: Henkel in chemicals; Chiquita in bananas; Philips and Canon in electronics; STMicroelectronics in semiconductors; Green Mountain Coffee in coffee.

United Natural and Whole Foods have business models with a sustainable mission - to integrate natural/ organic products into society. Both companies have been outperforming the stock market for years and stand out as the biggest sustainable stock success stories thus far.

Vestas (the world's largest wind company) is the only alternative energy company on the list this year, because it is the one company in this emerging sector that is profitable. Ballard and Fuel Cell Energy were on the list for the past two years and will hopefully be back next year when their financial position makes more sense for investors.

Jack Robinson of Winslow explains, "From a macro-perspective, all the drivers are in place for the renewable energy industry to experience excellent long term sustainable growth of over 20% a year. I see this industry as where natural/ organic foods was 12 years ago. The challenge now is to pick the winning companies. Right now that's very tricky."

Some people invest in Baldor, East Japan Rail, JM, or even Electrolux, Canon and Philips as ways to safely get exposure to clean energy in their portfolio. Baldor makes energy efficient motors affordable. East Japan Railway, the world's largest passenger railroad, incorporates a wide range of sustainable business practices from green procurement and efficient engines, to experimenting with wind and solar energy to run its trains. Electrolux, Canon and Philips use life cycle analysis to design the most efficient products in their respective markets. JM, a Swedish real estate and construction company, extensively uses green building practices which by their nature are energy efficient and resource conserving.

Conclusive research shows that companies that outperform on the environment outperform financially. Too often, the "green" business sector remains a mystery to many of today's investment information sources. Creating the SB20 and the The Progressive Investor to follow the companies and news on an on-going basis showcases and rewards companies that are well positioned as investments.

The SB20 List for 2004 - Alphabetical Order
  • Baldor Electric Co. (BEZ)
  • Canon (CAJ)
  • Chiquita Brands International (CQB)**
  • East Japan Railway (9020)
  • Electrolux (ELUXB)**
  • Green Mtn Coffee Roasters (GMCR)**
  • Henkel (HNKG.BE )**
  • Herman Miller (MLHR)**
  • JM (JM.ST)**
  • Novozymes (NZYMb.CO)**
  • Philips Electronics (PHG)
  • STMicroelectronics (STM)**
  • Svenska Cellulosa AB (SCAa.ST)
  • Swiss Re (RUKN:SWX)**
  • Timberland (TBL)**
  • Triodos Groenfonds (TRIO.AS)
  • United Natural Foods (UNFI)**
  • Vestas (VWS.CO)**
  • Wainwright Bank (WAIN)**
  • Whole Foods Market (WFMI)**
** Denotes companies on the list in both 2003 and 2004.

The SB20 judges:

Terry Foecke: Managing Director, Investment Research, Materials Productivity LLC
Patrick McVeigh: VP Investment Research, Lowell, Blake & Associates
Carsten Henningsen, Co-Founder & Principal, Portfolio 21 mutual fund
Jack Robinson: Managing Director, Winslow Management Company, Green Growth Fund
Matt Patsky: Managing Director, Winslow Management Company, Green Growth Fund

The Progressive Investor is a monthly newsletter that guides people toward sustainable investments. Each issue includes a conversation among world-class sustainable investment analysts for their insights and opinions on viable investments in companies leading the way to a clean economy: renewable energy, organic and healthy lifestyle companies and more. Published by, the most visited, trusted source on sustainable business on the Web. CONTACT: Rona Fried, Editor

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