ICEX: Most Traded Companies For The First Half Of 2003

ICEX has selected the most traded shares for the first half of 2003. The method for selection is in line with the practice in the other NOREX exchanges. The selection of most traded shares is reviewed twice a year for the periods beginning 1 January and 1 July each year. The basis for selection is the turnover in the previous twelve months and the market value at the end of last month. The conditions are variable in order to reflect the market conditions at each time.

At this time the conditions for inclusion in the group of most traded shares are a twelve-month turnover in excess of ISK 7 billion and a minimum market value of ISK 10 billion. It is possible that newly listed companies are included in the most traded group if high turnover is expected with the shares in question. A company may also be included if its shares have been much traded in the weeks before the selection due to some changes in company operations or conditions, even though the turnover does not amount to ISK 7 billion in the twelve-month period. Equities on all ICEX lists are candidates for the selection of most traded shares.

The shares selected at this time are:

Company	Sector	Symbol
Islandsbanki	Finance and insurance	ISB
Pharmaco	Pharmaceutical,	PHCO
Bunadarbanki Islands	Finance and insurance	BUN
Landsbanki Islands	Finance and insurance	LAIS
Baugur Group	Services and commerce	BAUG
Kaupthing Bank	Finance and insurance	KAUP
Eimskipafelag Islands	Transport	EIMS
Bakkavor Group	Industry and manufacturing	BAKK
Ossur	Industry and manufacturing	OSSR
Samherji	Fisheries	SAMH
Ker	Oil distribution	KER

As before eleven companies are included in the most traded group. Two companies are replaced in the group: Delta (Pharmaceutical) (delisted) and Tryggingamidstodin (Finance and insurance, symbol TM). Newcomers are Bakkavor Group and Ker hf.

For the most traded shares the trading lot in the trading system is twice as big as the trading lot of other shares. Trading in smaller amounts is possible, while small trades do not affect the price formation. The companies belonging to the most traded group are encouraged to publish their announcements simultaneously in Icelandic and English to give foreign investors access to information on the companies? activities.