NEW YORK, September 15, 2004 — Dow Jones Indexes announced that it will expand its indexes offered by Dow Jones Hedge Fund Indexes, Inc. (DJHFI). Beginning in early October, DJHFI will begin publishing the Dow Jones Hedge Fund Strategy Benchmark Equity Long/Short (U.S.), which complements the already-existing five strategies.

"The equity long-short strategy uses techniques such as short selling and derivatives, which aren't available to traditional equity-based investment portfolios in pursuit of supplemental sources of return," said Ridgely Walters, president of DJHFI. "We think the Dow Jones Hedge Fund Strategy Equity Long/Short Benchmark will be a strong addition to our existing five strategies."

The Dow Jones Hedge Fund Strategy Benchmarks measure individual hedge fund strategies. The five existing strategies are Equity Market Neutral, Convertible Arbitrage, Distressed Securities, Merger Arbitrage and Event Driven. DJHFI provides style-pure, hedge fund strategy indexes that exhibit highly correlated component returns. The methodologies and components underlying the Dow Jones Hedge Fund Strategy Benchmarks are available on the Dow Jones Indexes Web site at www.djindexes.com

DJHFI has established an index advisory committee to ensure that the Dow Jones Hedge Fund Strategy Benchmarks remain methodologically sound and objectively maintained. The advisory committee has eight members, including representation from DJHFI, Dow Jones Indexes and seven representatives comprised of professionals affiliated with major institutions and pension plans responsible for pursuing investments in alternative assets.

Dow Jones Indexes Hedge Fund Strategy Benchmark Advisory Committee Members:

• John A. Prestbo, Editor, Dow Jones Indexes, Chairman of the Dow Jones Index Oversight Committee
• Ridgely Walters, President of Dow Jones Hedge Fund Indexes, Inc. and Senior Director, Client Development and Sales, Dow Jones Indexes
• Garry Crowder, Founder and CEO, Lyra Capital LLC
• Nancy Everett, Chief Investment Officer, Virginia Retirement Systems
• Philip Halpern, Independent Advisor
• Neil J. Petroff, Senior Vice President, International Equities Indices, Fixed Income and Alternative Investments, Ontario Teachers Pension Plan
• Laurence Siegel, Director, Investment Policy Research, The Ford Foundation
• Edgar J. Sullivan, Vice President of Investment Research and Co-Portfolio Manager, Absolute Return Strategy, General Motors Asset Management