S&P Emerging Markets Index Calculation Schedule

Standard & Poor's will not be calculating index values for the S&P/IFCI and S&P/IFCG Emerging Market Indices on May 31, 2004. Standard & Poor’s has been notified that WM spot exchange rates will not be published on this day. Forex markets will be closed in New York, London and Frankfurt. Index values will be calculated on all other business days.