S&P Dow Jones Indices Announces Methodology Changes to the Dow Jones North America Select Junior Indices

New York, NY, December 1, 2015: S&P Dow Jones Indices today announced that it has made changes to the Dow Jones North America Select Junior Indices methodology. These changes will be implemented with the next upcoming rebalance, effective after the close of December 18, 2015. Note that following this December annual rebalance, the indices will rebalance annually in September going forward, in order to align with the reconstitutions of the underlying universe. The December 2015 annual rebalance will be carried out as planned with the below changes:

Methodology
ChangePreviousUpdated
Sector ClassificationOil – U.S. and Canadian companies in the Oil & Gas Producers and Oil Equipment, Services & Distribution Sectors* that have the majority of their business derived from oil-related activities.

Gas – U.S. and Canadian companies in the Oil & Gas Producers and Oil Equipment, Services & Distribution Sectors* that have the majority of their business derived from gas-related activities.

Gold – U.S. and Canadian companies in the Gold Mining Subsector*.

* as defined by a proprietary classification system used by S&P Dow Jones Indices.
Oil – U.S. and Canadian companies in the Oil & Gas Drilling, Oil & Gas Equipment & Services, Integrated Oil & Gas, Oil & Gas Exploration & Production, Oil & Gas Refining & Marketing, and Oil & Gas Storage & Transportation sub-industries* that have the majority of their business derived from oil-related activities.

Gas – U.S. and Canadian companies in the Oil & Gas Drilling, Oil & Gas Equipment & Services, Integrated Oil & Gas, Oil & Gas Exploration & Production, Oil & Gas Refining & Marketing, and Oil & Gas Storage & Transportation sub-industries* that have the majority of their business derived from gas-related activities.

Gold – U.S. and Canadian companies in the Gold sub-industry*.

* as defined by the Global Industry Classification Standard (GICS).
Size Classification RequirementsOil and Gas – Companies classified as SIM, SML, or MCR in the Dow Jones U.S. Total Stock Market Index and the Dow Jones Canada Total Stock Market Index are eligible for inclusion.

Gold – None.
Oil, Gas, and Gold – On a full market capitalization basis, a company must fall within the 90% to 98% cumulative market capitalization range of the eligible GICS sub-industries. For current companies to be re-selected to the index, the threshold is 85% and 99% respectively.
Float-adjusted Market Capitalization ScreenA company's float-adjusted market capitalization must be greater than or equal to 0.0015% and less than or equal to 0.015% of the combined float-adjusted market capitalization of the Dow Jones U.S. Total Stock Market Index and the Dow Jones Canada Total Stock Market Index. For current companies to be re-selected to the index, the threshold is 0.0012% and 0.018% respectively.On a float-adjusted market capitalization basis, a company must fall within the 90% to 98% cumulative market capitalization range of the eligible GICS sub-industries. For current companies to be re-selected to the index, the threshold is 85% and 99% respectively.
Liquidity ScreenOil and Gas – None.

Gold – A security's average three-month float turnover must be greater than or equal to 0.2%. If a security fails this screen in its home country, liquidity data from cross-listed issues are considered.
Oil, Gas, and Gold – A security's average three-month float turnover must be greater than or equal to 0.2%. If a security fails this screen in its home country, liquidity data from cross-listed issues are considered.
Index Universe DeletionsIndex constituents removed from the index universe (i.e. the Dow Jones U.S. Total Stock Market Index and the Dow Jones Canada Total Stock Market Index) are deleted at the subsequent quarterly update.Index constituents removed from the index universe (i.e. the Dow Jones U.S. Total Stock Market Index and the Dow Jones Canada Total Stock Market Index) are deleted at the subsequent annual rebalancing.
Rebalancing Timing (Beginning 2016)The Dow Jones North America Select Junior Indices are rebalanced annually in December. Changes are announced after the close of trading on the second Friday of December and become effective after the close of trading on the third Friday of December.The Dow Jones North America Select Junior Indices are rebalanced annually in September. Changes are announced after the close of trading on the second Friday of September and become effective after the close of trading on the third Friday of September.

Additional information regarding these changes and the Dow Jones North America Select Junior Indices methodology can be found at www.djindexes.com/literature/.

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