Catalyst Honors Goldman Sachs, PepsiCo, PricewaterhouseCoopers and Scotiabank with 2007 Catalyst Award Recognizing Innovative Initiatives that Advance Women and Business



    NEW YORK, March 21 /CNW/ - Celebrating its 20th anniversary recognizing
corporate initiatives that advance women and business, Catalyst presented the
2007 Catalyst Award to The Goldman Sachs Group, Inc., PepsiCo, Inc.,
PricewaterhouseCoopers LLP, and Scotiabank at its annual gala dinner this
evening. Close to 70 CEOs of major organizations and firms attended the event
that drew over 1600 senior executives, top corporate officers, and industry
leaders from nearly 200 national and global companies.

    "The 2007 Catalyst award-winning initiatives recognize that advancing
women and diversity are strategic business imperatives," said Ilene H. Lang,
President of Catalyst. "When we look ahead to the future, we foresee a world
where business leaders will hardly recall what it was like to work in a world
without women's business leadership. The groundbreaking initiatives which the
Catalyst Award honors today will be commonplace and the business case for
women in leadership will quite simply go without saying."

    Tony Comper, immediate past President and CEO of BMO Financial Group,
chaired the annual Catalyst Awards Dinner at the Waldorf=Astoria honoring this
year's Award winners. Under Mr. Comper's leadership, BMO's Workplace Equality
Initiative won the 1994 Catalyst Award.

    "The advancement of women in the workforce over the past 20 years has
been phenomenal in the truest sense of the word," Mr. Comper said. "But not
phenomenal enough. It is imperative that we not let this revolution get
stalled."

    Against a backdrop in which, according to the latest Catalyst research,
women are still vastly underrepresented in senior leadership positions and on
the boards of the Fortune 500 companies, this year's winning initiatives
exemplify the Catalyst mission - to build inclusive environments and expand
opportunities for women at work.

    Goldman Sach's Senior Women's Initiative significantly increased the
number of women managing directors and doubled the number of women partners.
Lloyd Blankfein, Chairman and CEO of The Goldman Sachs Group, Inc., said,
"Goldman Sachs is honored to receive the Catalyst Award in recognition of our
Senior Women's Initiative. This program has been central to our efforts to
increase the number of senior women at the firm. We believe that to continue
to provide our clients with the best, most creative ideas and solutions,
Goldman Sachs must reflect a diverse workforce and the different cultures and
perspectives that infuse the global economy."

    PepsiCo's Women of Color Multicultural Alliance resulted in increasing
the representation of women of color at the senior management/director level.
Indra Nooyi, Chairman Elect and CEO of PepsiCo, Inc., said, "We're proud and
honored to receive the recognition symbolized by the Catalyst Award, and we're
equally proud of our people who have worked tirelessly to create an
environment at PepsiCo that fosters diversity, inclusion and, most
importantly, innovation. This environment lets our people feel empowered to
bring every part of themselves - their education, their culture, their family
values - everything - to PepsiCo. And for our women of color, it creates an
environment of trust, which in my opinion is the greatest success of the
Alliance."

    PwC's Unique People Experience increased women's representation at the
partner level by 30 percent, and turnover for all staff has been reduced by
one-third. Dennis Nally, U.S. Chairman and Senior Partner of
PricewaterhouseCoopers LLP, remarked, "Winning the Catalyst Award is
gratifying to me and a significant milestone for our firm. We are very proud
that our initiatives have been recognized by Catalyst. Historically we
believed that 'equality' meant treating everyone the same. But now we
recognize that it actually requires treating different people differently, and
that is the underpinning of PwC's Unique People Experience."

    Scotiabank's Advancement of Women Initiative significantly increased the
number of women working at senior levels within the Bank. Richard E. Waugh,
President and CEO of Scotiabank, commented, "Scotiabank's Advancement of Women
Initiative is not just about women; it's about removing barriers for all of
our employees, and providing them with tools and opportunities to grow and
succeed for themselves, for their customers, and for Scotiabank. I'm proud of
the results we've achieved and look forward to more progress in the years
ahead."

    During the Catalyst Awards Conference held earlier in the day at the
Grand Hyatt, the companies recognized for their award-winning initiatives held
in-depth sessions presenting their initiatives. Karen Katen, Vice Chairman of
Pfizer Inc., delivered the luncheon keynote address, "One Woman's Journey to
the Top", after which conference attendees engaged in a series of panel
discussions with some of the country's leading experts on critical issues of
inclusion and advancement of women in the 21st-century workplace, including
Global Women's Networks, Building the Agile Workplace, Women of Color Working
in Global Organizations and Leveraging Diversity through Performance
Management.

    The Catalyst Awards Dinner is sponsored by Shell Oil Company. The
Catalyst Awards Conference is sponsored by General Motors Corporation and
Wal-Mart Stores, Inc.

    For complete descriptions of this year's Catalyst Award-winning
initiatives, the Catalyst Awards Conference, and previous Award winners,
please visit: www.catalyst.org.

    About Catalyst

    Catalyst is the leading research and advisory organization working with
businesses and the professions to build inclusive environments and expand
opportunities for women at work. As an independent, nonprofit membership
organization, Catalyst conducts research on all aspects of women's career
advancement and provides strategic and web-based consulting services globally.
With the support and confidence of member corporations and firms, Catalyst
remains connected to business and its changing needs. In addition, Catalyst
honors exemplary business initiatives that promote women's leadership with the
annual Catalyst Award. With offices in New York, San Jose, Zug, and Toronto,
Catalyst is consistently ranked No. 1 among U.S. nonprofits focused on women's
issues by The American Institute of Philanthropy.

    About the Catalyst Award

    The Catalyst Award is presented annually to companies and firms with
outstanding initiatives that result in women's career development and
advancement. Catalyst's rigorous, year-long examination of initiatives and
their measurable results culminates in intensive, on-site reviews at finalist
companies. The Catalyst Award provides the business community with replicable
change models that are good for business and good for women. For more
information about Catalyst and the Catalyst Award application process, please
visit www.catalyst.org.

    About The Goldman Sachs Group, Inc.

    Goldman Sachs is a leading global investment banking, securities, and
investment management firm that provides a wide range of investing, advisory,
and financing services to a diversified client base that includes
corporations, financial institutions, governments, and high net worth
individuals. Originally organized as a partnership, today Goldman Sachs is a
public company with over 23,000 employees around the world that promotes a
distinctive corporate culture, placing our clients' interests first and
emphasizing integrity, commitment to excellence, innovation, and teamwork.

    About PepsiCo, Inc.

    PepsiCo is one of the world's largest food and beverage companies with
annual revenues of more than $35 billion. Its principal businesses include
Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana
juices and Quaker foods. Its portfolio includes 17 brands that generate $1
billion or more each in annual retail sales.

    About PricewaterhouseCoopers LLP

    PricewaterhouseCoopers LLP is the U.S. member firm of
PricewaterhouseCoopers International Limited. PricewaterhouseCoopers
(www.pwc.com) provides industry-focused assurance, tax and advisory services
to build public trust and enhance value for its clients and their
stakeholders. More than 140,000 people in 149 countries across our network
share their thinking, experience and solutions to develop fresh perspectives
and practical advice.

    About Scotiabank

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With close to 57,000 employees, Scotiabank
Group and its affiliates serve approximately 12 million customers in some 50
countries around the world. Scotiabank offers a diverse range of products and
services including personal, commercial, corporate, and investment banking.
With C$379 billion in assets (as at October 31, 2006), Scotiabank trades on
the Toronto (BNS) and New York Exchanges (BNS). For more information please
visit www.scotiabank.com.




For further information:

For further information: Catalyst Susan Nierenberg, 646-388-7744
snierenberg@catalyst.org or Serena Fong, 646-388-7757 sfong@catalyst.org or
Adam Deitch, 646-388-7725 adeitch@catalyst.org

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