The following four component changes will be made to the Dow Jones Islamic Market U.S. Titans 50. FedEx Corp. (U.S.), HCA Inc. (U.S.), Illinois Tool Works Inc. (U.S.) and CVS Corp. (U.S.) will be added to the index. The following companies are being deleted: Alcoa Inc (U.S.), Target Corp. (U.S.), Electronic Data Systems Corp. (U.S.) and ConocoPhillips (U.S.).
The following two component changes will be made to the Dow Jones Islamic Market Europe Titans 25. Centrica PLC (U.K.) and L'Air Liquide S.A. (France) will be added to the index. The following companies are being deleted: Roche Holding AG (Switzerland) and Anglo American PLC (U.K.).
The following five component changes will be made to the Dow Jones Islamic Market Asia/Pacific Titans 25. Hon Hai Precision Industry Co. Ltd. (Taiwan), Wesfarmers Ltd. (Australia), Eisai Co. Ltd. (Japan), Suzuki Motor Corp. (Japan) and Toppan Printing Co. Ltd. (Japan) will be added to the index. The following companies are being deleted: Hoya Corp. (Japan), SMC Corp. (Japan), Cheung Kong (Holdings) Ltd. (Hong Kong), Sun Hung Kai Properties Ltd., (Hong Kong) and Secom Co. Ltd. (Japan).
To determine their eligibility for the Dow Jones Islamic Market Titans 100, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Dow Jones Indexes then screens out companies with unacceptable financial ratios: companies whose total debt divided by trailing 12-month average market capitalization is 33% or more; those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more and those whose accounts receivables divided by total assets is 45% or more.
The component changes will be effective at the start of trading on Monday, June 23, 2003.
Further information on the Dow Jones Islamic Market Titans 100 Indexes can be found on www.djindexes.com
Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages, the Dow Jones Global Titans 50, the Pan-European Dow Jones STOXX Indexes, the Dow Jones Asian Titans 50, the Dow Jones Sector Titans 30, the Dow Jones Country Titans Indexes. Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information.
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