Pax World CEO Joe Keefe One of Ethisphere's "100 Most Influential People in Business Ethics" for 2008

List Includes President Obama, T. Boone Pickens, Google CEO Eric Schmidt

PORTSMOUTH, N.H. – February 10, 2009 – Pax World Management Corp., investment adviser to Pax World Funds (Pax World) and a leader in the field of sustainable investing, today announced that its President and CEO, Joe Keefe, has been named to Ethisphere's list of the "100 Most Influential People in Business Ethics" for a second consecutive year. Ethisphere, a New York-based international think-tank dedicated to best practices in business ethics, publishes an annual list of the 100 Most Influential People in Business Ethics.

Ethisphere's 2008 list includes such notables as President Barack Obama, President Nicolas Sarkozy of France, U.S. Attorney Patrick Fitzgerald, New York Times columnists Thomas Friedman and Paul Krugman, oilman turned wind power advocate T. Boone Pickens, Google CEO Eric Schmidt, General Electric CEO Jeff Immelt, and Liu Qi, Chairman of the 2008 Beijing Olympics. In 2007 Keefe joined such other notables as former vice president and Nobel Prize winner Al Gore, economist Milton Friedman, and Timberland CEO Jeff Swartz.

The list, which Ethisphere's editors develop in collaboration with an advisory board comprised of business school professors from around the world, recognizes individuals who "stood out for their positive achievements in the business ethics world" during 2008. Winners are broken down into nine categories: government and regulatory; business leadership; non-governmental organizations; design and sustainability; media and whistleblowers; thought leadership; corporate culture; investment and research; and legal and governance. Keefe is one of five honorees in the investment and research category, focusing on individuals who "impact corporate behavior through influencing investor decisions and the deployment of investment capital due to research or institutional fund management practices."

Ethisphere noted that under Keefe's leadership, Pax World takes sustainable investing beyond just placing investor money in companies with good corporate social responsibility records, noting Pax World's active fund management, its divesting companies that fail to meet its sustainability standards, including those that indirectly finance the humanitarian crisis in Darfur, and Pax World's decision in 2008 to license a group of Sustainability Indexes designed by KLD Research & Analytics, Inc., whose CEO, Peter Kinder, was also named to the list.

The 2008 list published in Ethisphere can be found here.

The Pax World Funds' sustainable investing policies may inhibit the Funds' ability to participate in certain attractive investment opportunities that otherwise would be consistent with its investment objectives and other principal investment strategies.