CalPERS targeted Thursday for supporting KBR, accused of rape and murder in Iraq!

FOR IMMEDIATE RELEASE
June 18, 2008
Contact: David Elliot
202-263-4567

20,000 petitioners ask CalPERS Thursday to get tough
on KBR, Iraq War’s biggest war profiteer, now
linked to massive fraud, rape and massacre

SACRAMENTO, CA – The California Public Employees Retirement System (CalPERS) will be asked by more than 20,000 petitioners to hold KBR – the largest contractor in Iraq – accountable for a growing list of misdeeds as a war profiteer when CalPERS meets Thursday at its full board meeting.

A PRESS CONFERENCE and picket are set for THURSDAY at 9:30 a.m. at the Robert Carlson Auditorium (400 Q Street) at the start of the CalPERS meeting. Petitions will be presented by anti-war activists from Sacramento for Democracy and Sacramento Coalition to End the War.

The action comes just two days after the New York Times reported that a U.S. Army official who
managed the Pentagon’s largest contract in Iraq said he was ousted from his job when he refused to approve paying more than $1 billion in questionable charges to KBR.

KBR, the former Halliburton subsidiary, has faced scrutiny recently because of allegations its
employees took part in a massacre of Iraqi civilians, engaged in no bid contracts, hid money in
offshore tax havens and took part in unethical war profiteering. Other large KBR shareholders
include Colorado Public Employees, New York State Teachers Retirement System, Ohio Public Employees Retirement System and Texas Teacher Retirement System.

The petitions were gathered by TrueMajority.org, a project of USAction. “Investing public pension
funds in a company accused of massive fraud and war profiteering isn’t good economics and it’s not good for America,” said Matt Holland, TrueMajority.org online director.

“As the largest contractor in Iraq, KBR has failed to pay hundreds of millions in taxes through
offshore tax havens, and past employees have testified of massive fraud which is costing the
American people billions of dollars. Public pension funds should not be used to shore up unethical,
irresponsible and immoral behavior,” he added.

“How does CalPERS know it is shielded from liability if a new administration actually holds KBR
accountable for waste and fraud?” Asked Karen Bernal, USAction/TrueMajority.org member/Sacramento for Democracy spokesperson, adding “If KBR is held accountable and subject to fines or other penalties, will retired state employees end up with the tab?”