NEW YORK (Oct. 30, 2003) — Dow Jones Indexes, a leading global index provider, today announced the launch of the Dow Jones Select Dividend Index. The index, which will include 50 stocks derived from the Dow Jones U.S. Total Market Index, a broad market benchmark index that represents approximately 95% of U.S. market capitalization, will be launched on November 3, 2003.

Ridgely Walters, senior director of client development/sales Americas, Dow Jones Indexes, said,”With new lower U.S. tax rates on dividends, more investors are becoming interested in companies issuing dividends. The Dow Jones Select Dividend Index allows investors to track these companies and to participate in the return on income of the highest-yielding stocks in the U.S.”

Dow Jones Indexes expects to license the first exchange-traded fund based on the Dow Jones Select Dividend Indexes by the end of the year.

To be eligible for inclusion in the index, a component must have a positive historical five-year dividend per share growth, an average five-year dividend payout percentage rate less than or equal to 60% and an annual average daily dollar trading volume greater than $1.5 million. Components that pass this criteria are then ranked by dividend yield, and the top 50 components of the Dow Jones U.S. Total Market Index are selected for the Dow Jones Select Dividend Index.

Each company’s weight in the Dow Jones Select Dividend Index is based on the amount of its indicated dividend. The indicated annual dividends for all components are totaled, and each component’s weight is equal to its dividend contribution.

The Dow Jones Select Dividend Index will be reviewed on an annual basis in December. Components and weightings will be available starting November 3 on the web site www.djindexes.com.