Telenor ASA Will Replace VA Technologie AG In The S&P European Indices

Standard & Poor’s will make the following changes in the S&P Europe 350, S&P Euro Plus and S&P Euro Indices effective at the close of trading Monday, February 14, 2005:

• Telenor ASA Plc (Norway, SEDOL 4732495, GICS: Telecommunication Services, GICS Code: 50101020) will replace VA Technologie AG (Austria, SEDOL 4921635) in the S&P Europe 350 and S&P Euro Plus index, after the close of trading on Monday, February 14, 2005. VA Technologies AG is being removed from the S&P Europe 350, S&P Euro Plus and S&P Euro indices following the acquisition of 90% of the company’s shares by fellow index constituent Siemens AG, which will have a significant impact on the stock’s liquidity.

Telenor ASA, headquartered in Forenbu, Norway, is the largest provider of telecommunications services in Norway and also operates internationally. The number of shares outstanding is 1,749,697,047 and the Investable Weight Factor will be 0.46. The company will be added to the S&P Europe 350 GICS (Global Industry Classification Standard) Integrated Telcommunication Services sub-industry.

Following is a summary of the announced changes:

S&P Europe 350, S&P Euro Plus and S&P Euro – close of trading Feb. 14 2005
	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
ADDED	Telenor ASA	Telecommunications Services	Integrated Telecommunication Services
DELETED	VA Technologie AG	Industrials	Industrial Machinery

Standard & Poor's is a leader in providing highly valued financial data, analytical research and investment and credit opinions to the global capital markets. Among the company's many products are the S&P Global 1200, the first real-time, global equity index, the S&P 500, the premier U.S. portfolio index, and credit ratings on more than 220,000 securities and funds. With 5,000 employees located in 20 countries, Standard & Poor's is an integral part of the world's financial architecture. Additional information is available at www.standardandpoors.com

Founded in 1888, The McGraw-Hill Companies is a global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 322 offices in 33 countries .Sales in 2003 were $4.8 billion. Additional information is available at www.mcgraw-hill.com