Diversity_ Inclusion_ and_ Change

Equal opportunity for employment, with promotion mostly from within the company.

At the same time diversity and individual differences are recognized and honored.

There is a community of self interest among all of our stakeholders. We share together in our collective vision for the company. To that end we have a salary cap that limits the maximum cash compensation (wages plus profit incentive bonuses) paid to any Team Member in the calendar year to 19 times the company-wide annual average salary of all full-time Team Members.

Overall, IBM's intention is to create an environment that maximizes our employees' productivity and connection to the enterprise on a global scale.

Global Workforce Diversity is a cornerstone of IBM's strategy to differentiate itself as one of the world's great companies.

That means we're extending beyond the traditional subjects of diversity — race, gender, genetics, religion, disability or sexual orientation — by aligning diversity with globalization

Goldman Sachs is constantly striving towards a more diverse workplace, both for the benefit of the firm and in order to more successfully meet the needs of our clients. Our extensive diversity efforts include: Partnering with numerous organizations to promote diversity beyond the boundaries of the firm Increasing our commitment to recruiting women, students from historically under-represented groups and those with disabilities Seeking candidates from a broad array of academic disciplines and concentrations, such as liberal arts, applied math, sciences and engineering Initiating and managing programs, internships and scholarships designed to increase awareness of the firm and our industry

need for a diverse set of tal

. An inclusive and collaborative environment helps our business and communities grow and prosper."

As a result of survey findings, we increased our focus on operating effectiveness, which includes efforts toward simplification and standardization; reduced bureaucracy; and process effectiveness and efficiency. We plan to repeat this survey in 2008 and beyond, to continue to learn from employees.

In early 2007, we embarked upon an analysis of the relationship between employee opinions/behaviors and organizational performance - specifically, reputation among consumers, market share, and financial performance. As expected, we found that employee opinions are significantly linked with all of these factors.

96 percent of associates agreed that the Company has established diversity as an important component of its business strategy.

No. 4 on The 2007 DiversityInc Top 50 Companies for Diversity® list

op 10 Companies for Recruitment & Retention (No. 5)