Wednesday January 26, 5:47 pm Eastern Time
Company Press Release
SOURCE: Standard & Poor's
Standard & Poor's Announces Changes in S&P Indices
NEW YORK, Jan. 26 /PRNewswire/ -- Standard & Poor's will make the following changes in the S&P 500 and S&P MidCap 400
Indices after the close of trading on Friday, January 28, 2000:
* Conexant Systems Inc. (Nasdaq: CNXT - news) will replace Consolidated Natural
Gas (NYSE: CNG - news) in the S&P 500 Index. S&P 500 component Dominion
Resources (NYSE: D - news) is acquiring Consolidated Natural Gas in a
transaction anticipated to close on that date.
* L-3 Communications Holdings (NYSE: LLL - news) will replace Micro Warehouse,
Inc. (Nasdaq: MWHS - news) in the S&P MidCap 400 Index. Bridgeport Acquisition
Corp. (an investment group) is acquiring Micro Warehouse, Inc. for
$19.00 a share in cash. The tender offer is anticipated to close on
Friday, January 28, 2000, unless extended.
Conexant Systems Inc. provides semiconductor products and systems solutions for communications electronics. Conexant delivers integrated systems and
semiconductor products for a broad range of communications applications. The company, headquartered in Newport Beach, California, will be added to the S&P
500 Electronics (Semiconductors) industry group.
L-3 Communications Holdings is a leading merchant supplier of secure, high data rate communication systems, microwave components, avionics and ocean systems
and telemetry, instrumentation and space products. The company, headquartered in New York City, will be added to the S&P MidCap 400 Communications
Equipment industry group.
Following is a summary of the announced changes:
S&P 500 INDEX-January 28, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Conexant Systems Technology Electronics (Semiconductors)
DROPPED Consolidated Utilities Natural Gas
Natural Gas
S&P MIDCAP 400 INDEX-January 28, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED L-3 Communications Technology Communications Equipment
Holdings
DROPPED Micro Warehouse, Inc. Consumer Cyclicals Retail
(Home Shopping)
Standard & Poor's, a division of The McGraw-Hill Companies, Inc., provides financial, economic and investment information and analytical services to the global
financial community. S&P calculates and maintains the S&P Global 1200 Index, which includes the S&P Euro and Euro Plus for Continental Europe, the S&P/TSE
60 for Canada, the S&P 500 for the U.S., the S&P/TOPIX 150 for Japan, the S&P Asia Pacific 100, the Latin America 40 and the United Kingdom 150. S&P also
publishes the S&P MidCap 400, S&P SmallCap 600, S&P SuperComposite 1500 and S&P REIT Composite for the U.S. and the S&P/TSE Canadian MidCap and
S&P/TSE Canadian SmallCap Indices. Over $1 trillion is indexed to S&P indices.
Founded in 1888, The McGraw-Hill Companies is a leading information services provider meeting worldwide needs in education, business, finance, the professions
and government. The corporation employs 16,500 people located in more than 400 offices in 32 countries. Sales in 1999 were $4.0 billion. Company additions to
and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company. |
