March 2008 “Islamic Market’s Measure” – Preliminary Report - Monthly Report On The Performance Of The Dow Jones Islamic Market Indexes

Based on the close of trading on March 25, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally posted a loss of -1.43% month to date, closing at 2365.97. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a gain of 0.98%, closing at 218.94.

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• The Dow Jones Islamic Market Asia/Pacific Titans 25 Index, which measures the performance of 25 of the leading Shari’ah compliant stocks in the Asian and Pacific region, decreased -3.98%, closing at 2056.40. The Dow Jones Asian Titans 50 Index, in comparison, decreased -3.66%, closing at 158.66. -
• Measuring Europe, the Dow Jones Islamic Market Europe Titans 25 Index, which measures the performance of the 25 of the leading Shari’ah compliant stocks in Europe, closed at 2505.50, a loss of -5.16%, while the pan-European blue chip Dow Jones STOXX 50 Index lost -2.19%, closing at 3536.10. -
• Measuring the performance of 50 of the largest Shari’ah compliant U.S. stocks, the Dow Jones Islamic Market U.S. Titans 50 Index increased, closing at 2357.06. It represents a gain of 0.98%. The U.S. blue-chip Dow Jones Industrial Average gained 2.17%, closing at 12532.60.

Asia: Performance of Dow Jones Islamic Market Versus Conventional Dow Jones Indexes

In March, the Dow Jones DFM Titans 10 Index, measuring the 10 largest and most liquid stocks listed on the Dubai Financial Market, closed at 5440.12. It is a loss of -6.83% month-to-date.

The Dow Jones Islamic Market Kuwait Index posted a loss of -0.54%, closing at 1891.17. Its conventional counterpart index, the Dow Jones Kuwait Composite Index, was down as well, closing at 515.90. It represents a loss of -1.90%.

The Dow Jones Islamic Market Turkey Index closed at 3545.05, a performance of -6.62% month-to-date, while the Dow Jones Wilshire Turkey Index closed at 1094.24, a loss of -10.65%.

Other Markets and Asset Classes

The Dow Jones Islamic Market BRIC 50 Index decreased, losing -8.40%. It had a closing value of 2136.10. By comparison, the Dow Jones BRIC 50 Index closed at 643.58, a loss of -8.57%.

The Dow Jones Citigroup Sukuk Index, which measures the performance of global bonds complying with Islamic investment guidelines, increased 0.30%, closing at 111.33.

The Dow Jones Islamic Sustainability Index, which measures sustainable practice business of companies respecting the Shariah laws, decreased -2.86%, closing at 2657.73. The conventional Dow Jones Sustainability Index lost -1.08% with a closing value of 1256.49.

Global March 2008 Industries Winners and Losers

The three best performing Dow Jones Islamic Market Industries Indexes were Financials, Consumer Services and Technology, with performances of 4.88%, 2.21% and 2.12% respectively. The Dow Jones Islamic Market Basic Materials, Dow Jones Islamic Market Oil & Gas and Dow Jones Islamic Market Health Care Indexes were the three worst performing industries indexes with losses of -5.97%, -5.01% and -1.83% respectively.

The Dow Jones Islamic Market Indexes were introduced in 1999 as the first indexes intended to measure the global universe of investable equities that pass screens for Shari’ah compliance. With more than 70 indexes the series remains the most comprehensive family of Islamic market measures and includes regional, country, and industry indexes, all of which are subsets of the Dow Jones Islamic Market (DJIM) Index. An independent Shari’ah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies.

More information regarding the methodology used to calculate the Dow Jones indexes mentioned in this report is available on www.djindexes.com