WASHINGTON - June 4 - Thank you, Mr. Chairman and Good Morning. My name is Dan Schlademan, of the United Food and Commercial Workers, representing the Firefighters’ Pension System of Kansas City, Missouri, which is a large, long-term shareholder in our company. I am here to present shareholder proposal #7, which seeks greater disclosure and oversight of political spending. The full proposal is on page 65 and 66 of our company’s proxy. And, with your permission, Mr. Chairman, I will forego reading the entire proposal and supporting statement. Rather, in the interests of brevity, I will quickly sum up why this proposal merits support.

Data compiled by the independent watchdog group, Opensecrets.org, shows that Walmart gave more than $2.6 million to political candidates and organizations since 2008. It also shows that it has overwhelmingly favored Republican candidates over the years, who received more than 73% of Wal-Mart’s money since 1990.

As all of us no doubt recall, our Company received much criticism and embarrassment in 2008, when it was reported that Walmart management was apparently telling its hourly workers not to vote for our current President Barack Obama. As a long-term shareholder of the company, we believe reckless political spending and embarrassing controversies such as this distract management from its core responsibilities: to build our company’s brand and increase long-term shareholder value through legal and responsible means.

We are deeply concerned about Walmart’s political activities and believe that greater disclosure would lead to greater accountability. The Company’s Board and its shareholders need comprehensive disclosure to be able to fully evaluate the political use of corporate assets. Moreover, over 75 companies and half of the S&P 100 are already in compliance with this proposal. We think our Company’s shareholders will very much benefit from this reform, and we urge our fellow shareholders to support this proposal.

Thank you Mr. Chairman for your consideration and please let me know if I can answer any questions from you, the Board or any of my fellow shareholders.