April 2008 Preliminary IPO Report - A Monthly Report From STOXX Ltd. On European Initial Public Offerings (IPOs)

Based on the close of trading on April 29, in April 2008, 8 companies went public in Europe. No company was added to the Dow Jones STOXX IPO Indexes in April.¹

To be included in the Dow Jones STOXX IPO Indexes companies must have a free float market capitalization between 100 million EUR and 3 billion EUR on the listing date. ²

The European companies which went public in April are as follows:

The three best performing companies in the Dow Jones STOXX IPO Indexes in April were E2V TECHNOLOGIES (U.K., Industrial Goods & Services), VTG (Germany, Industrial Goods & Services) and RAYMARINE (U.K., Industrial Goods & Services) with a performance of 55.37%, 52.79% and 40.06% respectively.

For the Dow Jones STOXX IPO Index (3 months), companies are added one day after their actual IPO date and remain in the index for 3 months. This allows maximum participation in the IPO performance effect. For the Dow Jones STOXX IPO (12 months) and the Dow Jones STOXX IPO (60 months), companies are added on the second Wednesday following their IPO and remain in the index for 12 and 60 months, respectively.

Companies are removed from the indexes after the close of trading on the first Wednesday following 3, 12 and 60 calendar months of inclusion in the index.

Companies deleted from the Dow Jones STOXX IPO Indexes in April 2008:

In April, no company was deleted from the Dow Jones STOXX IPO Index (3 months), seven from the Dow Jones STOXX IPO Index (12 months) and one from the Dow Jones STOXX IPO Index (60 months).

April 2008 INDEX PERFORMANCE

The Dow Jones STOXX IPO Index (3 months) was the best performing Dow Jones STOXX IPO Index for the month with a gain of 6.06%, closing at 2565.13. The Dow Jones STOXX IPO Index (60 months) posted a gain of 5.35% with a closing value of 1805.82. The Dow Jones STOXX IPO Index (12 months) increased 2.82% in April, closing at 2337.26.

During the same time period, the Dow Jones STOXX 600 Index increased 4.81%, closing at 320.67. and the Dow Jones STOXX 50 Index gained 6.46%, closing at 3017.98.

As of April 29, 2008, Industrial Goods & Services has the highest weight in the Dow Jones STOXX IPO Index (12 months) and in the Dow Jones STOXX IPO (60 months) with 45.86% and 21.93% respectively. Financial Services has the highest weight in the Dow Jones STOXX IPO Index (3 months) with 25.51%.

From a country perspective, Italy has the highest weight in the Dow Jones STOXX IPO Index (3 months) with 28.58% and U.K. has the highest weight in the Dow Jones STOXX IPO Index (60 months) with 21.27%. Germany weighs 19.22% in the Dow Jones STOXX IPO Index (12 months).

The Dow Jones STOXX IPO Indexes measure the performance of the European IPO market in three different time horizons – 3, 12 and 60 months – based on the duration a component remains in the respective index.

Further information on the Dow Jones STOXX IPO Indexes is available at www.stoxx.com.

¹ Includes all IPOs that are domiciled and traded at the major exchanges of 18 European countries (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom) and that are available on major data providers and surpass a minimum size.

² The index universe is defined as all IPO companies in the equity market which would be eligible for the Dow Jones STOXX Total Market Index. Free float market capitalization on the listing date is calculated by multiplying the number of shares with the IPO offer price and with the float factor, defined as IPO shares divided by total shares outstanding.