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Standard & Poor's Announces Changes To S&P U.S. Indices

NEW YORK, N.Y.—Standard & Poor’s will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indices after the close of trading on a date to be announced:

  • S&P MidCap 400 constituent M&T Bank Corp. (NYSE:MTB) will replace Concord EFS Inc. (NYSE:CE) in the S&P 500. Concord EFS is being acquired by fellow S&P 500 constituent First Data Corp. (NYSE:FDC), in a transaction that is still pending shareholder approval. S&P SmallCap 600 constituent Cephalon Inc. (NASD:CEPH) will replace M&T Bank in the S&P MidCap 400, while Select Comfort Corp. (NASD:SCSS) will replace Cephalon in the S&P SmallCap 600.

Standard & Poor’s will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com.

Through its subsidiaries, M&T Bank Corp. provides commercial and retail banking services to both individuals and institutions. The company, headquartered in Buffalo, NY, will be added to the S&P 500 GICS (Global Industry Classification Standard) Regional Banks sub-industry.

Cephalon Inc. is an international biopharmaceutical company that provides products to treat sleep disorders, neurological and psychiatric disorders, cancer and pain. The company, headquartered in West Chester, PA, will be added to the S&P MidCap 400 GICS Biotechnology sub-industry.

Select Comfort Corp. develops, manufactures and markets adjustable-firmness beds. The company, headquartered in Minneapolis, MN, will be added to the S&P SmallCap 600 GICS Specialty Stores sub-industry.

Following is a summary of the changes:

S&P 500 INDEX – TBA
 

COMPANY             GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
ADDED         M&T Bank Corp.    Financials                                  Regional Banks

DELETED    Concord EFS Inc.   Information Technology             Data Processing & Outsourced Services


S&P MIDCAP 400 INDEX – TBA
 

COMPANY             GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY

ADDED         Cephalon Inc.         Health Care                               Biotechnology
DELETED     M&T Bank Corp.    Financials                                  Regional Banks

S&P SMALLCAP 600 INDEX – TBA
 

COMPANY                     GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY

ADDED         Select Comfort Corp.    Consumer Discretionary             Specialty Stores
DELETED     Cephalon Inc.                 Health Care                                 Biotechnology

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.

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 5000 employees located in 20 countries, Standard & Poor's is an essential part of the world's financial infrastructure, and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.

Founded in 1888, The McGraw-Hill Companies is a global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 322 offices in 33 countries. Sales in 2003 were $4.8 billion. Additional information is available at www.mcgraw-hill.com.


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