NEW YORK, June 10, 2004 – Dow Jones Indexes announced component changes in the Dow Jones Islamic Titans 100 Indexes and its three subindexes as a result of the annual review of the Dow Jones Islamic Market Titans 100 Index.
The following companies will be deleted from the the Dow Jones Islamic Market Titans 100 and its subindex the Dow Jones Islamic Market Asia/Pacific Titans 25: Takeda Chemical Industries Ltd. (Japan), Toppan Printing Co. Ltd. (Japan), Eisai Co. Ltd.(Japan), Tokyo Electron Ltd. (Japan). They will be replaced by BHP Billiton Ltd.(Australia), Murata Manufacturing Co. Ltd. (Japan), Secom Co. Ltd. (Japan), Yamato Transport Co. Ltd.(Japan) in both indexes .
Sun Microsystems Inc. will be deleted from the Dow Jones Islamic Market Titans 100 and its subindex Dow Jones Islamic Market U.S. Titans 50 and will be replaced by Target Corp. in both indexes. STMicroelectronics N.V. (France) will also be deleted from the Dow Jones Islamic Market Titans 100 and its subindex Dow Jones Islamic Market Europe Titans 25 and be replaced by Anglo American PLC (U.K.) in both indexes.
The Dow Jones Islamic Market Titans 100 comprises the Dow Jones Islamic Market U.S. Titans 50, the Dow Jones Islamic Market Europe Titans 25 and the Dow Jones Islamic Market Asia/Pacific Titans 25.
The changes announced today are a result of the annual review of the Dow Jones Islamic Market Titans 100 Index. Component changes made during the review are also applied to all Dow Jones Islamic Market Indexes screenings to ensure compliance with Shariah principles. To determine their eligibility for the Dow Jones Islamic Market Titans 100, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Dow Jones Indexes then screens out companies with unacceptable financial ratios: companies whose total debt divided by trailing 12-month average market capitalization is 33% or more; those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more and those whose accounts receivables divided by total assets is 45% or more.
The Dow Jones Islamic Market Indexes were created for people who wish to invest according to Islamic investment guidelines. The indexes track Shari`ah compliant stocks from around the world, providing Islamic investors with comprehensive tools based on a truly global investing perspective. Further information on the Dow Jones Islamic Market Indexes can be found on http://www.djindexes.com.
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