December 23, 2008 at 18:11 PM EST
Standard & Poor's Announces Changes to U.S. Indices

NEW YORK, Dec. 23 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 100, S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:

  • S&P 500 constituent Amazon.com Inc. (Nasdaq: AMZN) will replace Merrill Lynch & Co. Inc. (NYSE: MER) in the S&P 100, S&P MidCap 400 constituent SCANA Corp. (NYSE: SCG) will replace Merrill Lynch in the S&P 500, and Omega Healthcare Investors Inc. (NYSE: OHI) will replace SCANA in the S&P MidCap 400, all after the close of trading on Wednesday, December 31. Merrill Lynch is being acquired by S&P 100 and 500 constituent Bank of America Corp. (NYSE: BAC) in a transaction expected to be completed on or about that date, pending final approvals.

  • S&P 500 constituent Costco Wholesale Corp. (Nasdaq: COST) will replace Wachovia Corp. (NYSE: WB) in the S&P 100, and Owens-Illinois Inc. (NYSE: OI) will replace Wachovia in the S&P 500, after the close of trading on Wednesday, December 31. Wachovia is being acquired by S&P 100 and 500 constituent Wells Fargo & Co. (NYSE: WFC) in a transaction expected to be completed on or about that date, pending final approvals.

  • S&P MidCap 400 constituent FLIR Systems Inc. (Nasdaq: FLIR) will replace National City Corp. (NYSE: NCC) in the S&P 500, and Valley National Bancorp (NYSE: VLY) will replace FLIR Systems in the S&P MidCap 400 after the close of trading on Wednesday, December 31. National City is being acquired by S&P 500 constituent PNC Financial Services Group Inc. (NYSE: PNC) in a transaction expected to be completed on or about that date, pending final approvals.

  • AMERISAFE Inc. (Nasdaq: AMSF) will replace FirstFed Financial Corp. (NYSE: FED), Actuant Corp. (NYSE: ATU) will replace BIOLASE Technology Inc. (Nasdaq: BLTI), American Physicians Capital Inc. (Nasdaq: ACAP) will replace Monaco Coach Corporation (NYSE: MNC), and Independent Bank Corp. (Nasdaq: INDB) will replace Libbey Inc. (NYSE: LBY) in the S&P SmallCap 600, after the close of trading on Wednesday, December 31. FirstFed Financial, BIOLASE Technology, Monaco Coach and Libbey all have market capitalizations below $25 million, whereas the minimum market cap needed to be admitted to the index is currently $200 million.

  • Intermec, Inc. (NYSE: IN) will replace SI International Inc. (Nasdaq: SINT) in the S&P SmallCap 600 on a date to be announced. Serco Group plc is acquiring SI International in a cash deal that is still pending final approvals.

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

Amazon.com operates retail websites. It is headquartered in Seattle, WA.

Costco Wholesale operates a chain of membership warehouses. It is headquartered in Issaquah, WA.

SCANA is primarily engaged in the generation, transmission and distribution of electricity. Headquartered in Columbia, SC, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Multi-Utilities Sub-Industry index.

Owens-Illinois is a manufacturer of glass containers. Headquartered in Perrysburg, OH, the company will be added to the S&P 500 GICS Metal & Glass Containers Sub-Industry index.

FLIR Systems is engaged in the design, manufacture and marketing of thermal imaging systems. Headquartered in Wilsonville, OR, the company will be added to the S&P 500 GICS Electronic Equipment & Instruments Sub-Industry index.

Valley National Bancorp operates commercial banks. Headquartered in Wayne, NJ, the company will be added to the S&P MidCap 400 GICS Regional Banks Sub-Industry index.

Omega Healthcare Investors is a real estate investment trust (REIT). Headquartered in Timonium, MD, the company will be added to the S&P MidCap 400 GICS Specialized REITs Sub-Industry index.

AMERISAFE is an insurance company. Headquartered in DeRidder, LA, the company will be added to the S&P SmallCap 600 GICS Property & Casualty Insurance Sub-Industry index.

Actuant is a manufacturer of a range of industrial products and systems. Headquartered in Butler, WI, the company will be added to the S&P SmallCap 600 GICS Industrial Machinery Sub-Industry index.

American Physicians Capital is a regional provider of medical professional liability insurance. Headquartered in East Lansing, MI, the company will be added to the S&P SmallCap 600 GICS Property & Casualty Insurance Sub-Industry index.

Independent Bank operates a commercial bank. Headquartered in Rockland, MA, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.

Intermec designs, develops, manufactures, integrates, sells, and services wired and wireless automated identification and data collection products. Headquartered in Everett, WA, the company will be added to the S&P SmallCap 600 GICS Computer Storage & Peripherals Sub-Industry index.

Following is a summary of the changes:


                      S&P 100 INDEX    -  December 31, 2008

            COMPANY      GICS ECONOMIC SECTOR           GICS SUB-INDUSTRY

    ADDED   Amazon      Consumer Discretionary           Internet Retail

            Costco        Consumer Staples               Hypermarkets &
                                                          Super Centers


    DELETED Merrill Lynch    Financials                Investment Banking
                                                           & Brokerage

            Wachovia         Financials                 Diversified Banks




                            S&P 500 INDEX    -  December 31, 2008

            COMPANY        GICS ECONOMIC SECTOR        GICS SUB-INDUSTRY

    ADDED    SCANA              Utilities               Multi-Utilities

             Owens-Illinois     Materials                 Metal & Glass
                                                            Containers

             FLIR Systems   Information Technology     Electronic Equipment
                                                          & Instruments

    DELETED  Merrill Lynch       Financials             Investment Banking
                                                            & Brokerage

             Wachovia            Financials              Diversified Banks

             National City       Financials                Regional Banks




                     S&P MIDCAP 400 INDEX   - December 31, 2008

             COMPANY       GICS ECONOMIC SECTOR         GICS SUB-INDUSTRY

    ADDED    Valley           Financials                 Regional Banks
            National

             Omega            Financials                Specialized REITs
            Healthcare

    DELETED  FLIR Systems   Information Technology      Electronic Equipment
                                                            & Instruments

             SCANA                 Utilities              Multi-Utilities



                     S&P SMALLCAP 600 INDEX    -  December 31, 2008

             COMPANY        GICS ECONOMIC SECTOR        GICS SUB-INDUSTRY

    ADDED    AMERISAFE         Financials              Property & Casualty
                                                            Insurance

             Actuant           Industrials            Industrial Machinery

             American          Financials              Property & Casualty
            Physicians                                      Insurance
             Capital

             Independent Bank  Financials                 Regional Banks

    DELETED  FirstFed          Financials              Thrifts & Mortgage
             Financial                                       Finance

             BIOLASE           Health Care                 Health Care
            Technology                                      Equipment

             Monaco Coach   Consumer Discretionary          Automobile
                                                          Manufacturers

             Libbey         Consumer Discretionary         Housewares &
                                                           Specialties



                            S&P SMALLCAP 600 INDEX   - TBA

                COMPANY       GICS ECONOMIC SECTOR        GICS SUB-INDUSTRY

    ADDED    Intermec       Information Technology       Computer Storage &
                                                             Peripherals

    DELETED  SI             Information Technology     IT Consulting & Other
             International                                     Services


About Standard & Poor's Index Services

Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, 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 http://www.standardandpoors.com.

SOURCE Standard & Poor's

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