November 2008 Preliminary IPO Report - A Monthly Report From STOXX Ltd. On European Initial Public Offerings (IPOs)

Based on the close of trading on November 25, 3 companies went public in Europe in November 2008. No company was added to the Dow Jones STOXX IPO Indexes in November.

To be included in the Dow Jones STOXX IPO Indexes companies must have a free float market capitalization between € 100 million and € 3 billion on the listing date.

The European companies which went public in November are as follows:

The three best performing companies in the Dow Jones STOXX IPO Indexes in November were PREMIERE (Germany, Media), JUST RETIREMENT (U.K., Insurance) and SMURFIT KAPPA GRP (Ireland, Industrial Goods & Services) with a performance of 70.49%, 36.14% and 28.57%, respectively.

For the Dow Jones STOXX IPO Index (3 months), companies are added one day after their actual IPO date and remain in the index for 3 months. This allows maximum participation in the IPO performance effect. For the Dow Jones STOXX IPO (12 months) and the Dow Jones STOXX IPO (60 months) indexes, companies are added on the second Wednesday following their IPO and remain in the index for 12 and 60 months, respectively.

Companies are removed from the indexes after the close of trading on the first Wednesday following 3, 12 and 60 calendar months of inclusion in the index.

Companies deleted from the Dow Jones STOXX IPO Indexes in November 2008:

In November, 11 companies were deleted from the Dow Jones STOXX IPO Index (12 months) and none from the Dow Jones STOXX IPO (3 months) and Dow Jones STOXX IPO (60 months) indexes.

NOVEMBER 2008 INDEX PERFORMANCE

The Dow Jones STOXX IPO Index (12 months) was the best performing Dow Jones STOXX IPO Index for the month with a loss of -10.16%, closing at 962.87. The Dow Jones STOXX IPO Index (3 months) posted a loss of -11.55% with a closing value of 945.57. The Dow Jones STOXX IPO Index (60 months) decreased -11.58% in November, closing at 847.15.

During the same time period, the Dow Jones STOXX 600 Index decreased -10.49%, closing at 198.77 and the Dow Jones STOXX 50 Index lost -10.55%, closing at 2085.40.

As of November 25, 2008, Utilities has the highest weight in the Dow Jones STOXX IPO Index (3 months) and in the Dow Jones STOXX IPO (12 months) with 41.72% and 34.47%, respectively. Industrial Goods & Services has the highest weight in the Dow Jones STOXX IPO Index (60 months) with 21.53%.

From a country perspective, Portugal has the highest weight in the Dow Jones STOXX IPO Index (3 months) and in the Dow Jones STOXX IPO Index (12 months) with 41.72% and 30.03%. The U.K. weighs 20.27% in the Dow Jones STOXX IPO Index (60 months).

The Dow Jones STOXX IPO Indexes measure the performance of the European IPO market in three different time horizons – 3, 12 and 60 months – based on the duration a component remains in the respective index.

Further information on the Dow Jones STOXX IPO Indexes is available at www.stoxx.com.

¹Includes all IPOs that are domiciled and traded at the major exchanges of 18 European countries (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom) and that are available on major data providers and surpass a minimum size.

²The index universe is defined as all IPO companies in the equity market which would be eligible for the Dow Jones STOXX Total Market Index. Free float market capitalization on the listing date is calculated by multiplying the number of shares with the IPO offer price and with the float factor, defined as IPO shares divided by total shares outstanding.