February 2008 Preliminary IPO Report - A Monthly Report From STOXX Ltd. On European Initial Public Offerings (IPOs)

Based on the close of trading on February 26, in February 2008, 4 companies went public in Europe. No company was added to the Dow Jones STOXX IPO Indexes in February.¹

To be included in the Dow Jones STOXX IPO Indexes companies must have a free float market capitalization between 100 million EUR and 3 billion EUR on the listing date.²

The European companies which went public in February are as follows:

February 2008 European IPOs
Company Name	Country	Date of IPO	Date of inclusion in Dow Jones STOXX IPO Index (3 months	Date of inclusion in Dow Jones STOXX IPO Indexes (12 and 60 months)
CRYPTZONE AB-B SHS	Sweden	04.02.2008	Not eligible
DARWEN HOLDINGS PLC	U.K.	25.02.2008	Not eligible
KENTZ CORP LTD	U.K.	05.02.2008	Not eligible
PVAXX LTD	U.K.	15.02.2008	Not eligible

The three best performing companies in the Dow Jones STOXX IPO Indexes in February were ADVANCED METALLURGICAL GRP (Netherlands, Basic Resources), FERREXPO (Switzerland, Basic Resources) and ASTROC MEDITERRANEO (Spain, Financial Services) with a performance of 43.36%, 33.89% and 33.58% respectively.

For the Dow Jones STOXX IPO Index (3 months), companies are added one day after their actual IPO date and remain in the index for 3 months. This allows maximum participation in the IPO performance effect. For the Dow Jones STOXX IPO (12 months) and the Dow Jones STOXX IPO (60 months), companies are added on the second Wednesday following their IPO and remain in the index for 12 and 60 months, respectively.

Companies are removed from the indexes after the close of trading on the first Wednesday following 3, 12 and 60 calendar months of inclusion in the index.

The following companies were deleted from the Dow Jones STOXX IPO Index (3 months) in February 2008:

February 2008 deletions from Dow Jones STOXX IPO Index (3 months) (Price, EUR)
Name	Country	Date of IPO	Date of deletion from Dow Jones STOXX IPO Index (3 months)
FLUIDRA	Spain	31.10.2007	07.02.2008
HAMBURGER HAFEN & LOGISTIK	Germany	02.11.2007	07.02.2008

In February, no company was deleted from the Dow Jones STOXX IPO Index (12 months) and one from the Dow Jones STOXX IPO Index (60 months).

FEBRUARY 2008 INDEX PERFORMANCE

The Dow Jones STOXX IPO Index (12 months) was the best performing Dow Jones STOXX IPO Index for the month with a gain of 6.69%, closing at 2456.97. The Dow Jones STOXX IPO Index (60 months) posted a gain of 6.55% with a closing value of 1885.75. The Dow Jones STOXX IPO Index (3 months) decreased -2.52% in February, closing at 2610.25.

During the same time period, the Dow Jones STOXX 600 Index increased 2.44%, closing at 330.01 and the Dow Jones STOXX 50 Index gained 2.09%, closing at 3308.61.

As of February 26, 2008, Industrial Goods & Services has the highest weight in the Dow Jones STOXX IPO Index (12 months) and in the Dow Jones STOXX IPO (60 months) with 39.99% and 21.78% respectively. Financial Services has the highest weight in the Dow Jones STOXX IPO Index (3 months) with 23.11%.

From a country perspective, the U.K. has the highest weight in the Dow Jones STOXX IPO Index (12 months) and in the Dow Jones STOXX IPO Index (60 months) with 18.53% and 22.35% respectively. Italy weighs 27.19% in the Dow Jones STOXX IPO Index (3 months).

	Performance
Dow Jones STOXX IPO Index (Price, EUR)	February 2008	YTD 2008	Q4 2007	2007
Dow Jones STOXX IPO Index (3 months)	-2,52%	-21,48%	-2.60%	-3.65%
Dow Jones STOXX IPO Index (12 months)	6,69%	-10,26%	-6.69%	4.40%
Dow Jones STOXX IPO Index (60 months)	6,55%	-9,12%	-3.48%	-0.33%

Dow Jones STOXX 600 Index	2,44%	-9,50%	-3.50%	-0.17%
Dow Jones STOXX 50 Index	2,09%	-10,18%	-3.57%	-0.36%

The Dow Jones STOXX IPO Indexes measure the performance of the European IPO market in three different time horizons – 3, 12 and 60 months – based on the duration a component remains in the respective index.

Further information on the Dow Jones STOXX IPO Indexes is available at www.stoxx.com

¹Includes all IPOs that are domiciled and traded at the major exchanges of 18 European countries (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom) and that are available on major data providers and surpass a minimum size.

²The index universe is defined as all IPO companies in the equity market which would be eligible for the Dow Jones STOXX Total Market Index. Free float market capitalization on the listing date is calculated by multiplying the number of shares with the IPO offer price and with the float factor, defined as IPO shares divided by total shares outstanding.