In view of the temporary nature of the change in the float adjusted market capitalization of the company, S&P/CITIC have decided to defer making changes to the shares outstanding of these companies. When a company's float shares decline due to this temporary measure, we will delay an adjustment to the IWF for up to six months providing that:
- The stock has sufficiently liquidity to trade and
- That the reduction in the IWF is less than 20 percentage points.
About Standard & Poor's
Standard & Poor's is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With approximately 6,700 employees located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
About CITIC Securities
CITIC Securities Co., Ltd. is a subsidiary of CITIC Holdings, with core businesses in securities underwriting, brokerage, asset management, trading and investment consultation. By the end of 2004, CITICS' net assets reached over 5.4 billion RMB with 1,200 employees and 40 branch offices located in Mainland China. In the latest Asia Money ranking of domestic financial institutions in key Asia-Pacific markets, CITIC Securities ranked No.1 among all Chinese securities firms. The company undertook an initial public offering of 400 million A-shares towards the end of 2002 and was listed on the Shanghai Stock Exchange on January 6, 2003. www.citics.com
