May 26, 2011 at 17:58 PM EDT
Standard & Poor's Announces Changes to U.S. Indices

NEW YORK, May 26, 2011 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:

  • S&P MidCap 400 constituent AMB Property Corp. (NYSE: AMB) will replace ProLogis (NYSE: PLD) in the S&P 500 index, and Dresser-Rand Group Inc. (NYSE: DRC) will replace AMB Property in the S&P MidCap 400 after the close of trading on Thursday, June 2. AMB Property is acquiring ProLogis in a deal expected to be completed on or about that date pending final approvals. Upon completion of the merger, AMB Property will be renamed ProLogis Inc. and will trade under the ticker symbol PLD.

  • S&P SmallCap 600 constituent Hancock Holding Co. (NASD: HBHC) will replace PacWest Bancorp (NASD: PACW) in the S&P MidCap 400 index, PacWest  Bancorp will replace Hancock Holdings in the S&P SmallCap 600, and Kraton Performance Polymers Inc. (NYSE: KRA) will replace Whitney Holding Corp. (NASD: WTNY) in the S&P SmallCap 600 index, all after the close of trading on Friday, June 3. Hancock Holding is acquiring Whitney Holding in a deal expected to be completed on or about that date pending final approvals. PacWest Bancorp's market capitalization is below $775 million, making it more representative of the small cap market space.

Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.  

AMB Property is an owner, operator and developer of industrial real estate. Headquartered in San Francisco, CA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Industrial REITs Sub-Industry index.

Dresser-Rand Group supplies rotating equipment solutions to the oil, gas, petrochemical, and process industries. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS Oil & Gas Equipment & Services Sub-Industry index.

Hancock Holding provides a range of banking and financial services. Headquartered in Gulfport, MS, the company will be added to the S&P MidCap 400 GICS Regional Banks Sub-Industry index.

PacWest Bancorp provides commercial banking services. Headquartered in Los Angeles, CA, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.

Kraton Performance Polymers is a supplier of performance polymers. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Specialty Chemicals Sub-Industry index.

Following is a summary of the changes:


S&P 500 INDEX  – June 2, 2011


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

AMB Property

Financials

Industrial REITs

DELETED

ProLogis

Financials

Industrial REITs





S&P MIDCAP 400 INDEX  – June 2, 2011


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Dresser-Rand Group

Energy

Oil & Gas Equipment Services

DELETED

AMB Property

Financials

Industrial REITs





S&P MIDCAP 400 INDEX  – June 3, 2011


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Hancock Holding

Financials

Regional Banks

DELETED

PacWest Bancorp

Financials

Regional Banks





S&P SMALLCAP 600 INDEX  – June 3, 2011


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

PacWest Bancorp

Financials

Regional Banks


Kraton Performance Polymers

Materials

Specialty Chemicals

DELETED

Hancock Holding

Financials

Regional Banks


Whitney Holding

Financials

Regional Banks




For more information about S&P Indices, please visit www.standardandpoors.com/indices.  

About S&P Indices

S&P Indices, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit www.standardandpoors.com/indices.

For more information contact:
David M. Blitzer, Ph.D.
Managing Director & Chairman of the Index Committee
(212) 438-3907

SOURCE Standard & Poor's

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