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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: MD Bryant who wrote (8159)	12/1/1998 4:45:00 PM
From: Chris Stovin	Read Replies (2) \| Respond to of 18016

This a past press release from the TSE concerning the new S&P/TSE 60 Index. Hopefully we will know soon as to the inclusion of Newbridge. Perhaps a few of the block trades today were in anticipation of this. TORONTO STOCK EXCHANGE AND STANDARD & POOR'S ANNOUNCE NEW INDEX -- November 17, 1998 TORONTO, November 17, 1998 - The Toronto Stock Exchange (TSE) announced today that it will complete an agreement with Standard and Poor's to develop a new index which is intended to be the recognized large capitalization equity index in Canada. This agreement will see the creation of the S&P/TSE 60 and is expected to commence calculation on December 31, 1998. "The new S&P/TSE index will be structured to provide excellent liquidity, a strong base for equity products and to give Canadian companies better exposure in international markets", said Richard Carleton, Vice President, Index and Market Data Services. "We believe this index will be highly tradable and will expand internationa l investment interest in Canadian companies." The names of the 60 stocks, which will comprise the new index, will be announced in early December, as will the methodology for their inclusion. A blue ribbon panel of industry members was struck in September to provide input on the development of the new index. "The blue ribbon panel made a significant contribution to our understanding of the issues," said Robert Shakotko, Senior Vice President, Index Services, Standard and Poor's, "We really benefited from their expertise and advice and appreciate the time and effort that was devoted to this work. We believe the result is an index that will serve Canadian equity markets and the Canadian economy very well." Additional elements of a broader relationship with S&P governing the management of the index complex, listed derivatives, index participation units and new product development will be negotiated with Standard and Poor's over the next few weeks. Completion of this agreement is subject to TSE Board of Governors approval. The fully automated Toronto Stock Exchange consistently ranks as one of the world's top 10 exchanges and is Canada's premier market, accounting for more than 80% of all equity trading in Canada. In 1997, more than 25.7 billion shares traded, worth more than $423 billion - about $2 billion a day in share transactions. With a proud 146-year history at the heart of the Canadian economy, the TSE continues to provide Canadian and international investors with a well-regulated, fair and accessible marketplace. Standard & Poor's Financial Information Services, 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 500, which measures the U.S. market and serves as the basis for the world's most actively traded index futures and options. The McGraw-Hill Companies is a global publishing, financial, information and media services company with 16,000 employees located in more than 400 offices in 30 countries. Founded in 1888, the Corporation is a leading information services provider meeting worldwide needs in education, business, finance, the professions and government. Sales in 1997 were US$3.5 billion. -- 30 -- Please contact: TSE - Steve Kee, Media Services Manager Tel. 416.947.4682 & S&P - William Jordan, Director of Communications, Index Services Tel. 212.208.5222 Steve Kee Manager, Media Services Marketing and Communications The Toronto Stock Exchange - tse.com 416.947.4682 -- office # 416.574.7500 -- cellular # 416.375.8856 -- page #