Quarterly Rebalancing And Additions & Deletions For The S&P Japan 500 And S&P Japan Smallcap 250 Indices

Standard & Poor’s as part of the quarterly rebalancing, will change the shares outstanding and IWF for the S&P Japan 500 and its sub-indices effective after the close of trading Friday, September 9th, 2005. New shares outstanding can be downloaded in Excel format using the link below. Companies that are constituents of the S&P Global 100 are denoted by an asterisk. As for the IWF for Banks, it will be changed from the current fixed IWF (0.55) to the calculated one based on each major share holders data from this time.

Click here for the list.

In addition to the quarterly rebalancing, Standard & Poor’s will also make the following changes:

1. Additions and Deletions

   S&P Japan 500 & its Sub-Indices - after market close of September 9th, 2005
   Action	Index	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
   Added	S&P Japan 500, S&P Japan SmallCap 250	Ito En Ltd	Consumer Staples	Soft Drinks
   Deleted	S&P Japan 500, S&P Japan SmallCap 250	World Co Ltd	Consumer Discretionary	Apparel, Accessories & Luxury Goods

2. Reasons for deletions

   World Co Ltd is deleted from the S&P Japan 500 index as its liquidity would be lower due to the success of TOB by Harbor Holding Alfa.

3. Details for added companies

   Ito En Ltd (Japan, SEDOL: 6455789, GICS: Consumer Staples, GICS Code: 30201030) shares used for the index calculation will be 45,606,190 and its IWF will be 0.65. Top-ranked producer of tea-leave products and green-tea drinks. Also deals in coffee and vegetable/fruit juices. It has nationwide sales network based on production/retailing route sales. Runs green tea plantations in China and Australia.

   Company additions to, and deletions from, an S&P equity index do not in any way reflect an opinion on the investment merits of the company.

4. Quarterly rebalance

   S&P will change the number of shares and IWF used for the index calculation.

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