ROYAL DUTCH <RD> OBJECT OF SHAREHOLDER CAMPAIGN
Sponsors of a campaign to pressure
Royal Dutch Petroleum Co to suspend operations in South Africa
claimed the backing of church groups and other institutions who
collectively own 4.8 mln of the the company's approximately
268.0 mln shares.
    "We're seeking to have the company disinvest in South
Africa - that means get out," Harrison Goldin, comptroller of
New York City told a news conference.
    The immediate goal of the campaign is to enlist the support
of owners of 27 mln shares to force an unprecedented special
meeting of shareholders, Goldin said.
    Goldin appeared at the news conference with Gordon Smith,
treasurer of the ministers and missionaries benefit board of
the American Baptist Churches.
    The 4.8 mln shares represented by the group includes four
retirement funds covering various groups of New York City
workers, the California State Teachers Retirement System and
seven church-related groups.
    Goldin said the ultimate aim of the group is to "tighten
the noose of economic pressure on South Africa" until the
government changes its apartheid policies.
    A reprsentative of Shell Oil Co, the U.S. arm of Royal
Dutch, distributed a statement after the news conference
explaining that the company supports a program of power sharing
by all South Africans.
    The statement said senior officials of the company have
stated publicly that they regard apartheid as "a system wholly
at variance with the principles on which our group of companies
has operated all over the world for many years."
    Goldin said the group seeks a special meeting because the
company has rejected efforts to have South African issues
placed on a ballot for the annual meeting in May.
    Goldin said the shareholders have no particular timetable
for the special meeting. "We are dealing with an effort to
arouse public opinion," he said, asserting that it is not
necessary to have a majority of the votes. "Large companies
respond when they see which way the wind is blowing."
    An immediate goal is to get Shell to stop selling fuel to
South Afria's military and police, he said.
    Smith said the campaign against Shell breaks new ground in
the cooperation of institutional investors on social issues. An
official of the United Mine Workers outlined a previously
announced boycott of Royal Dutch/Shell products.
 Reuter
