Three HK Companies Deleted from FTSE Large Cap Index

Three HK Companies Deleted from FTSE Large Cap Index

February 28, 2007

    HONG KONG, Feb. 28 /Xinhua-PRNewswire/ -- FTSE Group
("FTSE"), the global index provider, today
confirms the annual review results of its Asian benchmark,
the FTSE Asia Pacific ex Japan Index.  The FTSE Asia
Pacific Regional Committee, made up of independent market
practitioners, has reviewed the index series and approved
the addition of 23 companies to the Large Cap index,
including four IPO stocks -- Nine Dragons Paper Industries
(Hong Kong), Shimao Property Holdings (Hong Kong), Tech
Mahindra Limited (India) and Inotera Memories (Taiwan). 

    The Committee also approved a number of deletions from
the series, including Jardine Matheson, Jardine Strategic
and Swire Pacific "B" from the FTSE Large Cap
Index. These companies have been removed from the index, as
they have not met FTSE's liquidity rule. FTSE's liquidity
rule requires that companies must trade at least 0.04% of
its free-float adjusted shares in issue based on its median
daily trade per month in 8 out of 12 months. This rule
ensures that companies must trade for more than half the
trading days in a month, and so removes stocks which are
difficult to trade. 

    Full results of the review, which includes changes to
large, mid and small cap stocks are available at:
http://www.ftse.com/tech_notices/2007/Q1/13550_20070227_GEIS_AP_Review_2007.jsp
(Due to the length of the link, please copy and paste into
your browser.)

    All changes will be applied at close of business on
Friday, March 16, 2007. 

    Details of FTSE's liquidity rule can be found at:
http://www.ftse.com/Indices/FTSE_Global_Equity_Index_Series/Downloads/FTSE_Enhanced_Liquidity_Rule_0207.pdf
(Due to the length of the link, please copy and paste into
your browser.)

    About FTSE Group

    FTSE Group is a world-leader in the creation and
management of indexes. With offices in Beijing, London,
Frankfurt, Hong Kong, Madrid, Paris, New York, San
Francisco, Boston, Shanghai and Tokyo, FTSE Group services
clients in 77 countries worldwide.  It calculates and
manages the FTSE Global Equity Index Series, which includes
world-recognized indexes ranging from the FTSE All-World
Index, the FTSE4Good series and the FTSEurofirst Index
series, as well as domestic indexes such as the prestigious
FTSE 100. The company has collaborative arrangements with
the Athens, AMEX, Cyprus, Euronext, Johannesburg London,
Madrid, NASDAQ and Taiwan exchanges, as well as Nomura
Securities, Hang Seng and Xinhua Finance of China. FTSE
also has a collaborative agreement with Dow Jones Indexes
to develop a single sector classification system for global
investors.

    FTSE indexes are used extensively by investors
world-wide for investment analysis, performance
measurement, asset allocation, portfolio hedging and for
creating a wide range of index tracking funds. Independent
committees of senior fund managers, derivatives experts,
actuaries and other experienced practitioners review all
changes to the indexes to ensure that they are made
objectively and without bias.  Real-time FTSE indexes are
calculated on systems managed by Reuters. Prices and FX
rates used are supplied by Reuters.  

    Journalists requiring more information should contact:

    Fiona McFadzean, [phone] or email [e-mail]


    If you are not a member of the press, please contact
your local Client Services team at
http://www.ftse.com/Contact_Us/index.jsp

    /Note to Editors: If you are not a member of the press,
please contact your local Client Services team at
http://www.ftse.com/Contact_Us/index.jsp /


    For more information, please contact:

     Fiona McFadzean 
     FTSE Group
     Tel:   [phone]
     Email: [e-mail] 


SOURCE  FTSE Group