Goldman Sachs Responds to NYSE Corporate Accountability Recommendations

NEW YORK – In response to the NYSE recommendations, Henry M. Paulson, Jr., Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc. (NYSE: GS) and a member of the Board of Directors of the NYSE, issued the following statement:

Today's recommendations by the NYSE represent an important step towards improving corporate governance and restoring investor confidence in our markets. We support these proposals, and we are optimistic that we can move through public review to implementation.

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

Background: The New York Stock Exchange (NYSE) today proposed changes in corporate governance and disclosure practices for NYSE-listed companies. The NYSE recommendations include increasing the role and authority of independent directors, giving shareholders greater opportunity to monitor and participate in corporate governance, establishing new control and enforcement mechanisms and improving the education and training of directors.