Standard & Poor’s Modifies Float Adjustment Schedule, Announces Change to U.S. Index

Beginning with the previously announced addition of News Corporation Inc. (NYSE:NWS.A) to the S&P 500 on Friday, December 17, all S&P U.S. index additions will be made using the added companies’ half float-adjusted market capitalization rather than their full market capitalization. This strategy has been implemented in light of S&P’s abiding goal of avoiding unnecessary turnover, and will continue until March 18, 2005, at which point the indices will transition in their entirety to a half float-weighted structure.

MTS Systems Corp. (NASD:MTSC) will replace Commonwealth Industries Inc. (NASD:CMIN) in the S&P SmallCap 600 after the close of trading on Wednesday, December 8. Commonwealth Industries is being acquired by fellow S&P SmallCap 600 constituent IMCO Recycling Inc. (NYSE:IMR) in a deal expected to close on or about that date, subject to final approval.

Standard & Poor’s will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com. MTS Systems provides hardware, software and engineering services to researchers, designers and manufacturers. Headquartered in Eden Prairie, MN, the company will be added to the S&P SmallCap 600 GICS Electronic Equipment Manufacturers Sub-Industry Index.

Following is a summary of the change:

S&P SMALLCAP 600 INDEX – December 8, 2004
	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
ADDED	MTS Systems	Information Technology	Electronic Equipment Manufacturers
DELETED	Commonwealth Industries	Materials	Aluminum

Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.

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