All FTSE Indices To Be Fully Free Float Adjusted After Index Close On 15 June 2001

The entire range of FTSE indices will be fully free float adjusted to reflect availability of stock in the market available for public investment on 18 June 2001. Constituents of all FTSE indices not already free float adjusted will be changed to reflect the stock available in the markets, according to FTSE's free float rules. This will result in the re-weighting of many index constituents, mostly from Developed markets (although a large number of constituents are already adjusted).

Key dates for implementation

Constituent weightings changed to reflect available free float

Constituent weightings will be changed to reflect free float after the index close 15 June 2001.

Freeze period

To regulate changes to free float and to minimize the effect on constituent weightings FTSE will operate a 'freeze period' from 1 June to 1 July 2001 inclusive. This means that no alterations to a constituent's free float weight will be implemented during this time, except where they are caused by a corporate action.

Changes that are not implemented during the freeze period will be tracked and the constituent weightings will be updated to reflect this at the start of trading on 2 July 2001. Changes to constituent weightings during the freeze period will be made according to the freeze period rules.

FTSE anticipates that few changes will occur during the freeze period and therefore few will be held over for implementation on 2 July.