Composition Of The ICEX-15 Index For The Period 1 July 2006 To 31 December 2006

ICEX-15 is comprised of companies listed on the ICEX Main List. Fifteen of these companies are selected for inclusion following specific rules. The index is reviewed twice annually, with changes taking effect 1 January and 1 July each year.

Roughly speaking, the selection is made as follows: To start with, 20 companies are selected on the basis of on-exchange trading during the past 12 months and ranked according to market value after adjusting for free-float. The 15 companies with the highest free-float adjusted market cap are selected for the index, provided they fulfil the criterion that the difference between the most favourable bid-ask prices at the end of the day is no more than 1.5% on average. If they fail to fulfil this requirement, companies ranked lower on the list of these 20 leading companies can replace them if the average bid-ask spreads of the latter are below 1.5%. For a more detailed discussion of the methodology applied, see the ICEX website (www.icex.is) under Quotes and Markets / Share Indices / About Indices.

Click here for full details.