Finer Breakout of Existing Industry and Sub-Groups to Meet Investors Needs

NEW YORK (Nov. 12, 2001) — Dow Jones Indexes today announced improvements in the sector classification system of the Dow Jones Global Index family, which includes the pan-European STOXX indexes. The changes will be effective at the opening of trading on December 24, 2001.

The Dow Jones sector classification comprises four levels — economic sectors, market sectors, industry groups and sub groups. It is altered from time to time to reflect changes in sector and industry developments in the stock market as well as in investor interest. The two highest levels of the four-level classification system — economic sectors and market sectors — have a high acceptance in the investment community and will remain unchanged in this round of improvements. These sectors are widely used for index-linked investment products such as exchange-traded funds and derivatives.

The number of industry groups on the third level will be raised to 51 from 40. And the fourth level sub industry groups will increase to 89 from 70. Most of the changes will occur in the third and fourth levels of two market sectors: Industry Goods & Services and Technology. For the most part, the changes provide a finer degree of granularity, allowing investors to track specific parts of the market.

For example, the Technology market sector was split between Hardware & Equipment and Software industry groups. Now it is split into five industry groups: Technology Hardware & Equipment; Communications Technology; Semiconductors; Technology Services, and Software.

These classification changes will be effective with the 2001 fourth-quarter review of the Dow Jones and Dow Jones STOXX indexes. Because the changes primarily result in a finer breakout of existing industry and sub-groups, turnover attributable to the changes in the classification system is expected to be nominal. Quarterly review results will be announced on December 7, 2001, for U.S. components and on December 19, 2001, for Dow Jones STOXX indexes.

STOXX Ltd. and Dow Jones Indexes are fully integrated and use the same index classification system. The Dow Jones STOXX Index family represents the European region of the Dow Jones Global Index family. Index methodology, component classification, float weighting factors, rule books and transparency are identical for the entire index family.

The Current Dow Jones Indexes and Dow Jones STOXX Sector Classification

The New Dow Jones Indexes and Dow Jones STOXX Sector Classification, effective on December 24th