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Friday, January 14, 2005

U.S. corporate tsunami aid tops $500M

SAN FRANCISCO (CBS.MW) -- U.S. companies have given more than half a billion dollars to help Asia recover from the tsunami that struck in late December, according to a survey released Thursday.

The Committee to Encourage Corporate Philanthropy, which represents more than 100 executives of large U.S. firms, including Citigroup and Merck, said a poll of its members showed more than $500 million in cash, in-kind and employee matching gifts have been donated so far.

That figure could rise further in the coming months because companies may increase donations as they get more information on what specific help is needed and where it should be directed, the CECP added in a statement.

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