The SWX Swiss Exchange Launches The SMIM® And The SMI Expanded<SUP>TM</SUP>

Today, the SWX Swiss Exchange is launching two new indices: the SMIM® and the SMI Expanded^TM. This is a significant addition to the tradeable indices on the Swiss financial marketplace. The SMI®, SMIM® and SMI Expanded^TM together form the SMI® family, covering Switzerland's largest and most liquid stocks, and are ideal underlying instruments for investment products such as options, futures and ETFs.

The blue-chip SMI® (Swiss Market Index) is the leading Swiss equity index. It includes up to 30 (currently 27) of the largest and most liquid stocks in the SPI® large and mid-cap universe and accounts for about 90 % of the Swiss market's free-float market capitalisation.

The SMIM® (SMI MID) tracks the next-biggest stocks (again, up to 30) in the mid-cap segment. There are currently 24 stocks that meet the selection criteria. The SMIM® is calculated as both a Performance index and a Price index.

The SMIM® has outperformed the SMIC (SMI® cum Dividend) by about 30 percentage points over the past two years.

The SMI® and SMIM® together constitute the SMI Expanded^TM, which currently includes 51 of the largest and most liquid stocks on the Swiss market (up to 60 are possible), covering roughly 95 % of the free-float market capitalisation. This index is a useful proxy for the overall stock market and is easy to replicate. The SMI Expanded^TM is also calculated as Performance and Price indices.

The new indices in the SMI® family have aroused a great deal of interest on the financial market since their imminent launch was announced back in September, and leading investment banks are to issue the first SMIM®- and SMI Expanded^TM-based investment products today.

	Issue	Weighting
1	NOBEL BIOCARE I	13.76 %
2	GEBERIT N	8.89 %
3	ACTELION N	7.78 %
4	LOGITECH N	6.87 %
5	SCHINDLER PS	5.40 %
6	STRAUMANN N	5.17 %
7	PHONAK N	4.35 %
8	SIKA I	4.34 %
9	MICRONAS N	4.16 %
10	SULZER N	4.03 %
11	SIG N	3.99 %
12	RIETER N	3.97 %
13	CONVERIUM HLDG N	3.58 %
14	KUONI N	3.43 %
15	LINDT PS	3.12 %
16	FISCHER N	2.76 %
17	KABA N 10	2.70 %
18	VALORA N	2.68 %
19	SAURER N	2.47 %
20	PUBLIGROUPE N	1.88 %
21	VONTOBEL N	1.57 %
22	SEZ N	1.29 %
23	CHARLES VÖGELE I	1.03 %
24	TECAN GROUP AG N	0.78 %

The basket composition is available at the following URL (updated daily):
www.swx.com/indices_en.html

This launch constitutes the end, for the time being, of a far-reaching reform of the SWX Swiss Exchange indices which began with the launch of the SXI® family on 21 June 2004 (see www.swx.com/news/media/media20040621a_en.html).