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CalPERS Praises Continuing Growth Of Dual Listings At NASDAQ

Date 07/04/2004

Sean Harrigan, President of the California Public Employees' Retirement System (CalPERS) Board of Administration issued the following statement regarding today's announcement that a seventh company has agreed to dual list their stock shares on the NASDAQ stock exchange.

"CalPERS continues to be encouraged by the growth of dual listing companies at NASDAQ. We commend American Financial Group for being the first major company in the insurance industry to take this step.

"Their action and that of all who dual list make for a win-win for everyone: investors, the companies and the exchanges. For investors, it gives that much more choice when it comes to executing trades. For the companies, it is a way to demonstrate their responsiveness to their shareholders, and for the exchanges, it spawns healthy competition, which can only ensure greater transparency, efficiency and improved responsiveness to the exchange's ultimate customers - the investor consumer."