Changes To Be Effective On June 15

NEW YORK (Jun. 4, 2001) — Dow Jones Indexes today announced component changes for its Dow Jones Global Titans 50, Dow Jones Sector Titans and Dow Jones Asian Titans 50 indexes.

Dow Jones Indexes said that four stocks are being changed in its Dow Jones Global Titans 50 Index. The American companies Tyco International, AOL Time Warner and Pfizer as well as the British company GlaxoSmithKline will be added to the index, replacing the American companies Hewlett-Packard, Lucent Technologies, General Motors and the French company France Telecom.

As of April 30, the cutoff date for the selection list, Deutsche Telekom (Germany) was not amongst the top 100 companies by free-float market capitalization that form the selection list for the Dow Jones Global Titans 50. However, due to the acquisition of Voicestream Wireless and Powertel and its increased free float market capitalization, Deutsche Telekom remains in the index.

Total free-float market capitalization of the reconstituted Dow Jones Global Titans 50 Index will increase to $6.2 trillion from $5.4 trillion.

After the first annual review a total of 17 stocks are being changed from the 540 components that are included in the 18 Dow Jones Sector Titans indexes. NKK Corp. (Japan) will be replacing the Japanese company Sumitomo Metal Mining in the Basic Resources sector. In the Cyclical Goods & Services sector Bass (United Kingdom) and Compagnie Financiere Richemont (Switzerland) will be replacing Pioneer (Japan) and Royal Carribean Cruises (USA). In the Chemicals sector the German company Degussa will be replacing Hitachi Chemical (Japan).

In the Construction sector Fluor Corp. (USA) will be replacing Sumitomo Osaka Cement (Japan). In the Healthcare sector, Sankyo Co. (Japan) and Beckton, Dickinson Co. (USA) will be replacing Applied Biosystem Applera and Aetna (both USA). In the Industrial Goods & Services sector Burlington Northern Santa Fe Corp. (USA) will be replacing the Japanese company TDK Corp. In the Insurance sector Old Mutual (U.K.) will be replacing the American company MBIA. In the Media sector the British company Granada will be replacing the Mexican company Grupo Televisa. In the Non-Cyclical Goods & Services sector R.J. Reynolds Tobacco Holding (USA) and Deutsche Post World Net (Germany) will be replacing Ebay (USA) and Pacific Century Cyberworks (Hong Kong). In the Retail sector McKesson HBOC (USA) and JC Penny Co. (USA) will be replacing RadioShack Corp. and Amazon.com (both USA). In the Telecom sector Swisscom (Switzerland) will be replacing Hellenic Telecommunications Organization (Greek) and in the Utility sector Mirant Corp. and Exelon Corp. (both USA) will be replacing PG&E Corp. and Edison International (both USA).

The components in the Automobiles, Banks, Food and Beverage, Financial Services and Technology sectors remain unchanged.

Dow Jones Indexes said that two stocks are being changed in its Dow Jones Asian Titans 50 index. Kansai Electric Power Co. (Japan) and CLP Holdings (Hong Kong) will be added and Seven-Eleven Japan Co. (Japan) and Pacific Century Cyberworks (Hong Kong) will be deleted.

Changes are being announced today after the conclusion of a regular annual component review. The changes will be effective after the close of U.S. trading on June 15, 2001. The review is based on a methodology that considers free-float market capitalization as well as fundamental factors. The detailed methodology for each index is published in the indexes’ rule books, accessible on the Dow Jones Indexes web site at djindexes.com.

Full component lists, including market capitalization and weightings are also available at http://indexes.dowjones.com.