Deutsche Börse AG Will Replace Gucci Group NV 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 the close of trading Tuesday, May 04, 2004:

• Deutsche Börse AG (Germany, SEDOL 7021963, GICS: Financials, GICS Code: 40201040) will replace Gucci Group NV (Netherlands, SEDOL 4655053) in the S&P Europe 350, S&P Euro Plus and S&P Euro Indices after the close of trading on Tuesday, May 04, 2004. Gucci Group NV is being deleted from the S&P Europe 350, S&P Euro Plus and S&P Euro indices following the successful completion of an all-cash tender offer by its major shareholder, and S&P Europe 350 constituent, Pinault-Printemps-Redoute SA. Together with the Gucci shares already owned, PPR now holds approximately 99.23% of the total number of Gucci shares outstanding.

Deutsche Börse AG provides stock exchange introduction, trading and operational services to institutions and private investors. The number of shares outstanding is 111,802,880 and the Investable Weight Factor will be 1.00. The company, headquartered in Frankfurt, will be added to the S&P Europe 350 GICS (Global Industry Classification Standard) Specialised Finance sub-industry.

Following is a summary of the announced changes:

S&P Europe 350, S&P Euro Plus, S&P Euro– close of trading 04 May, 2004
	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
ADDED	Deutsche Börse AG	Financials	Specialised Finance
DELETED	Gucci Group NV	Consumer Discretionary	Apparel, Accessories & Luxury Goods

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