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Steel Partners Japan Wins Unanimous Support of Proxy Advisors

March 18, 2010

Steel Partners Japan announced that Japan Proxy Governance, Inc., Japan’s leading proxy advisory firm, and PROXY Governance, Inc., a leading independent proxy advisory firm, have each recommended that shareholders vote for the election of all of Steel’s nominees to the Sapporo’s board at this year’s annual meeting including voting against six incumbent management directors nominated by Sapporo. With the earlier recommendations of RiskMetrics and Glass Lewis, Steel received the support from all leading independent proxy advisory firms, both in Japan and internationally. Steve Wolosky and Kenneth M. Silverman comprise the Olshan team that represents Steel.

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