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Nature Conservancy Adds Financial Experts to Board

Changes Expected to Further Strengthen Oversight, Accountability

ARLINGTON, VA—March 9, 2006—Today, The Nature Conservancy announced the addition of two new members to its Board of Directors, reflecting the organization’s ongoing commitment to good governance and rigorous oversight.

The new members, Muneer Satter, a Goldman Sachs managing director, and Teresa Beck, the former president of the American Stores Company, are experienced directors with financial expertise and thorough knowledge of the Sarbanes-Oxley Act, a 2002 law that requires American corporations to adhere to tougher governance standards and more stringent auditing procedures. By law, nonprofit organizations such as The Nature Conservancy are not required to comply with Sarbanes-Oxley, but the Conservancy has opted to implement key provisions of the law as part of its dedication to strong governance and accountability.

Satter and Beck join the Board with in-depth experience with the Conservancy, having served as Board of Trustees members with Conservancy state chapters. Satter has served as a trustee for the Illinois chapter since 2003. Beck has served as a trustee for the Utah chapter since 2002.

Both new Board members will serve on the Audit Committee of the Conservancy’s Board of Directors. The Audit Committee assists the Board in its oversight of the integrity of the financial statements, compliance with legal and regulatory requirements and ethical standards, and the independence and performance of the internal and independent auditors.

“Muneer and Teresa bring valuable knowledge that will help us continue to meet the highest possible standards in the nonprofit sector,” said Steve McCormick, President and CEO of The Nature Conservancy. “Their appointment is part of the Board’s ongoing efforts to enhance its effectiveness, strengthen oversight, and implement policies and procedures that reflect the Conservancy’s core value of ‘integrity beyond reproach.’ ”

Satter and Beck began service immediately following their appointment. Brief biographies follow:

Muneer A. Satter: Illinois Chapter Trustee since 2003

Satter is a Managing at Director at Goldman, Sachs & Co. in the Principal Investment Area and Global Head of the Mezzanine Group. He joined Goldman Sachs in 1988, moved to London in 1992 to co-head the firm’s merchant banking group in Europe, and was promoted as Partner and Managing Director in 1996. He is Co-Chairman of the Board of Diveo Broadband Networks, Inc., and serves on the Boards of CCC Information Services Group, Inc. and Grupo Clarin, S.A. Satter received a B.A. from Northwestern University, a J.D. from Harvard Law School, and an M.B.A. from the Harvard Graduate School of Business Administration.

In 1997, he and his wife established the Satter Foundation to support education, youth and the environment. He is Co-Chairman of the Board for Room-to-Read, an international youth literacy organization based in San Francisco that serves youth in the Asia/Pacific region. He lives in Winnetka, Illinois with his wife, Kristen, and their four daughters.

Teresa Beck: Utah Chapter Trustee since 2002

Beck served as President of American Stores Co. from 1998 to 1999. She also served as the company's chief financial officer from 1993 to 1998. Beck stepped down as president in conjunction with American Stores' merger with Albertsons, Inc. and currently serves on Albertsons Board of Directors. Prior to her career with American Stores, Beck served as an audit manager for Ernst & Young and as a controller of the Steiner Financial Corp. of San Francisco. She serves on Boards for the ICOS Corp where she is the Chair of the Audit Committee; Lexmark International where she is Chair of the Finance and Audit Committee; and Questar Corp. where she is Chair of the Finance and Audit Committee.

Beck was named one of eight Outstanding Directors for 2004 by The Institute of Outstanding Directors, in recognition of her efforts to overhaul financial reporting at Textron, Inc. In 1998, she was included in Fortune Magazine's first-ever list of the 50 most powerful women in American business.

For More Information:

• Who We Are: About The Nature Conservancy
  The mission of The Nature Conservancy is to preserve the plants, animals and natural communities that represent the diversity of life on Earth by protecting the lands and waters they need to survive.
• About Us: Governance of The Nature Conservancy
  Governance, accountability and transparency require ongoing diligence and review. The Nature Conservancy has made continuous improvement in these areas an organizational priority and they will remain so in the years ahead.
• Governance: Board of Directors of The Nature Conservancy
  Comprised of not less than nine nor more than twenty-one members, the Board is a diverse group of leaders who bring a variety of talents, experiences and expertise to the governance of the Conservancy. The Board holds ultimate legal and fiduciary responsibility for Conservancy operations.
• Governance: Board of Directors of The Nature Conservancy
  As a charity, The Nature Conservancy holds itself accountable to its members, the public and all creatures that have a stake in the preservation of the world’s natural resources.