The 2008 proxy season has started with a number of companies adopting or planning to adopt the S.E.C’s new Notice and Access proxy distribution model. The new rules make proxy materials available online and drive shareholders to a website, oftentimes the company’s Investor Relations (IR) site, to obtain more information including the annual report message. According to a recent survey by the National Investor Relations Institute (NIRI), a majority of survey respondents plan to implement Notice and Access.

Designed to complement the S.E.C.’s new distribution model, the Video Annual Report is a cost-effective solution that compliments the financials in a way that challenges the relevance of traditional static photography and text. As existing shareholders go online to receive notice for proxy materials, the Video Annual Report is easily accessed and reviewed providing shareholders with a four to five minute update on the company’s most recent fiscal year and vision for the future. It requires no downloads.

"We believe that a video annual report is an innovative and cost effective way for American Eagle Outfitters (NYSE:AEO) to communicate our annual results, our strategic initiatives and to showcase our portfolio of lifestyle brands," said Joan Hilson, Executive Vice President, and Chief Financial Officer, AE Brand.

For new investors and other key stakeholders, the Video Annual Report provides an energetic and engaging message highlighting who the company is; what transpired in the most recent fiscal year; the strategies for growth; and management’s commitment to all stakeholders.

“We believe the video maximizes the distribution power and interactivity of the internet in ways traditional annual reports can not. Consequently, during the 2007 proxy season we saw a sharp increase in the number of clients producing Video Annual Reports despite the fact that they still mailed their proxy and 10K. Fortunately, the decision to choose video has a number of additional benefits beyond the fact that it’s simply a better method of communication. These include cost savings, infinite distribution at no expense, and zero impact on the environment,” said Tom Ryan, Co-CEO of ICR. Ryan added, “It is no surprise then, that for the 2008 proxy season, we are seeing a greater adoption rate with more than 30 percent of our clients foregoing the tradition of print, and producing a Video Annual Report for the first time. We expect this number to continue to increase throughout the year and into future proxy seasons.”

To learn more about ICR’s Digital Media capabilities and to view a portfolio of Video Annual Reports, as well as other video samples, go to www.icrdigitalmedia.com.

About ICR

ICR is a leading financial communications firm specializing in investor relations, corporate communications and digital media. Established in 1998, ICR represents more than 225, primarily publicly listed companies and maintains offices in Westport, Conn., New York, Los Angeles, Boston and Beijing. ICR is one of the industry’s fastest growing consultancies, and is consistently listed among the nation’s top independent communications consulting firms. www.icrinc.com