ACSR Endorses Phillips Petroleum Exit From Africa

The Advisory Committee on Shareholder Responsibility voted yesterday to recommend that the Corporation support proposals requiring Phillips Petroleum to cease all operations in Namibia and forcing General Electric Company to disclose its activities in the Republic of South Africa.

The ACSR approved in full the shareholders' proposal sponsored by several U.S. churches to amend Phillips Petroleum's certificate of incorporation to prohibit any activity in Southwest Africa.

The committee also voted for a proxy resolution recommending that G.E. provide a written report to shareholders on the corporation's relations with the workers and the government of South Africa.

* The committee members rejected three proposals concerning G.E.'s contracts with the military:

* The Corporation must cancel all contracts that are related to the Southeast Asian war within 90 days.

* A report must be issued within four months that describes G.E.'s involvement in military projects.

* The corporation must establish an advisory committee to aid in the transition from military to civilian-oriented production.