Market Stability Reflected In FTSE 100 Regular Reshuffle

FTSE, the international index provider, confirms that Autonomy Corporation plc and Exel plc will be deleted from the FTSE 100 index, while Sema plc and Scottish and Newcastle plc will be added. The stock changes were approved today at a regular quarterly review by the independent practitioner Committee and will be applied at close of business on Friday 16 March 2001.

The Committee also announced a list of six reserve stocks which will be used to fill any vacancies created in the index as a result of corporate actions before the next review, scheduled to take place in June 2001. These companies are Enterprise Oil PLC, Whitbread Holdings PLC, Smith & Nephew PLC, Gallaher PLC, Morrison (Wm) Supermarkets, and Next PLC.

Changes to FTSE 250, FTSE 350 Yield, and FTSE techMARK indices were also announced today. Details of these changes can be found at http://www.ftse.com.

Mark Makepeace, FTSE Chief Executive said: "The two changes announced today are in marked contrast to the review in March 2000, when a record nine constituent changes were made to the FTSE 100. The changes made last year reflected the underlying volatility in the market, while today's changes are indicative of more stable market conditions. FTSE indices are designed to be a barometer of market activity."