Standard & Poor's Announces Change to U.S. Indices
NEW YORK, Feb. 23 /PRNewswire/ --
Standard & Poor's will make the following
changes to the S&P MidCap 400, S&P SmallCap 600 and S&P REIT Composite indices:
* Martek Biosciences Corp. (NASD: MATK) will replace Banknorth Group Inc.
(NYSE:BNK) in the S&P MidCap 400 after the close of trading on
Tuesday, March 1. S&P/TSX 60 constituent Toronto-Dominion Bank is
acquiring a majority stake in Banknorth Group in a deal expected to
close on or about that date.
* Infinity Property & Casualty Corp. (NASD: IPCC) will replace Sola
International Inc. (NYSE:SOL) in the S&P SmallCap 600 after the close
of trading on a date to be announced. Sola International is being
acquired by Carl Zeiss AG and a fund managed by EQT Partners AB in a
deal that is still pending final approval.
* Acadia Realty Trust (NYSE:AKR) will replace Summit Properties Inc.
(NYSE:SMT) in the S&P REIT Composite after the close of trading on
Monday, February 28. Summit is being acquired by S&P REIT Composite
constituent Camden Property Trust (NYSE:CPT) in a deal expected to
close on or about that date.
Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: http://www.standardandpoors.com/
Martek Biosciences develops and markets products from microalgae, including
specialty nutritional oils for infants, food ingredients and fluorescent
markers. Headquartered in Columbia, MD, the company will be added to the S&P
MidCap 400 GICS (Global Industry Classification Standard) Biotechnology
Sub-Industry Index.
Infinity Property & Casualty Corp. provides personal automobile insurance
throughout the United States, with an emphasis on nonstandard auto insurance.
Headquartered in Birmingham, AL, the company will be added to the S&P SmallCap
600 GICS Property & Casualty Insurance Sub-Industry Index.
Acadia Realty is a self-administered REIT which owns and develops neighborhood
and community shopping centers in the eastern and midwestern U.S. Headquartered
in White Plains, NY, the company will be added to the S&P REIT Composite Retail
property category.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - March 1, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Martek Biosciences Health Care Biotechnology
DELETED Banknorth Group Financials Regional Banks
S&P SMALLCAP 600 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Infinity Property & Financials Property & Casualty
Casualty Insurance
DELETED SOLA Int'l Health Care Health Care
Supplies
S&P REIT COMPOSITE INDEX - February 28, 2005
COMPANY REIT TYPE PROPERTY CATEGORY
ADDED Acadia Realty Trust Equity Retail
DELETED Summit Properties Equity Residential
Additions to and deletions from an S&P equity index do not in any way reflect
an opinion on the investment merits of the companies concerned.
About Standard & Poor's
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DATASOURCE: Standard & Poor's
CONTACT: David M. Blitzer, Ph.D.
Managing Director & Chairman of the Index Committee
+1-212-438-3907
Web site: http://www.standardandpoors.com/
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