New York (Jan. 8, 2004) -- It may be no surprise that more stringent governance requirements as a result of Sarbanes-Oxley have increased the workload of most corporate boards, but a recent PricewaterhouseCoopers study shows many are doing so without pay increases.

According to the PricewaterhouseCoopers Management Barometer, a quarterly survey that polled 177 chief financial officers and managing directors, nearly two-thirds of corporate boards surveyed spent more time on their duties during the past year, while commensurate compensation increased at only 20 percent of companies. Meanwhile 47 percent remained the same.

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