NASDAQ Announces the Annual Re-Ranking of the NASDAQ-100 Index NEW
YORK, Dec. 11 /PRNewswire-FirstCall/ -- The Nasdaq Stock Market,
Inc. ("NASDAQ") (BULLETIN BOARD: NDAQ) announced today the annual
re-ranking of the NASDAQ-100 Index(R), effective with the market
open on Monday, December 22, 2003. "The NASDAQ-100 Index is the
basis for some 400 financial products worldwide, and continues to
be one of the world's most widely followed indicators of financial
market activity," said John L. Jacobs, chief executive officer of
NASDAQ Financial Products Services, Inc. "The index includes
companies which are recognized leaders across a wide variety of
business sectors." The following eight issues will be added to the
NASDAQ-100 Index: Marvell Technology Group, Inc. (NASDAQ:MRVL),
Garmin Ltd. (NASDAQ:GRMN), Career Education Corporation
(NASDAQ:CECO), Lam Research Corporation (NASDAQ:LRCX), Level 3
Communications, Inc. (NASDAQ:LVLT), Intersil Corporation
(NASDAQ:ISIL), ATI Technologies Inc. (NASDAQ:ATYT) and Research in
Motion Limited (NASDAQ:RIMM). The NASDAQ-100 Index is composed of
the 100 largest non-financial stocks on The NASDAQ Stock Market and
dates to January 1985 when it was launched along with the NASDAQ
Financial-100 Index, which is comprised of the 100 largest
financial stocks on NASDAQ. Generally, the NASDAQ-100 is re-ranked
each year in December, timed to coincide with the quadruple witch
expiration Friday of the quarter. Shares of each company in the
Index are included in the NASDAQ-100 Index Tracking Stock (QQQ),
which is an exchange-traded fund (ETF) that trades like a stock.
Based on the year-to-date average daily trading volume as of
November 30, 2003, it is the world's most actively traded ETF and
the most actively traded listed security in the U.S. QQQ represents
ownership in the Nasdaq-100 Trust(SM). The Trust holds a portfolio
of equity securities that comprise the NASDAQ-100 Index and aims to
provide investment results that, before expenses, generally
correspond to the price and yield performance of the NASDAQ-100
Index. Since its inception in March 1999, the Trust's total assets
have grown to over $21 billion. For more information about the
NASDAQ-100 Index, including eligibility criteria, visit
http://www.nasdaq-100.com/. As a result of the re-ranking of the
NASDAQ-100 Index, the following eight companies will be removed:
ADC Telecommunications, Inc. (NASDAQ:ADCT), Brocade Communications
Systems, Inc. (NASDAQ:BRCD), CIENA Corporation (NASDAQ:CIEN), LM
Ericsson Telephone Company (NASDAQ:ERICY), Human Genome Sciences,
Inc. (NASDAQ:HGSI), ICOS Corporation (NASDAQ:ICOS), Monster
Worldwide Inc. (NASDAQ:MNST) and, RF Micro Devices, Inc.
(NASDAQ:RFMD). Companies that are removed from the Index may rejoin
it at a later time. This year, Lam Research Corporation
(NASDAQ:LRCX) and Level 3 Communications, Inc. (NASDAQ:LVLT) are
again becoming components of the Index. NASDAQ is the world's
largest electronic stock market. With over 3,300 companies, it
lists more companies and, on average, trades more shares per day
than any other U.S. market. It is home to category-defining
companies that are leaders across all areas of business including
technology, retail, communications, financial services, media and
biotechnology. For more information about NASDAQ, visit the NASDAQ
Web site at http://www.nasdaq.com/ or the NASDAQ Newsroom(SM) at
http://www.nasdaqnews.com/. To learn more about the criteria for
inclusion to the NASDAQ-100, visit
http://dynamic.nasdaq.com/dynamic/nasdaq100_activity.stm. Notes to
editors: The Trustee for the NASDAQ-100 Trust is required to adjust
the composition of the Trust within three business days before or
after the effective date of a change to the composition of the
NASDAQ-100 Index. The NASDAQ-100 Index Tracking Stock is subject to
risks similar to those of stocks, including those regarding short
selling and margin account maintenance. An investor cannot invest
directly in the Index. Index performance does not reflect the fees,
expenses or taxes associated with investing in the NASDAQ-100 Index
Tracking Stock. An investor should carefully consider investment
objectives, risks, charges and expenses before investing. For this
and more complete information about NASDAQ-100 Index Tracking
Stock(SM), a unit investment trust, obtain a prospectus from your
broker, or call 888-627-3837 or visit our web site at
http://www.nasdaq-100.com/. Read it carefully before you invest.
While there is no assurance that the performance of the NASDAQ-100
Index can be fully matched, the NASDAQ-100 Index Tracking Stock is
designed to provide investment results that generally correspond to
the performance of the NASDAQ-100 Index before fees, expenses and
taxes. Past performance is not indicative of future performance.
ALPS Distributors, Inc., a registered broker-dealer, is distributor
for the Trust. The sponsor of the NASDAQ-100 Trust, a unit
investment trust, is NASDAQ Financial Products Services, Inc.
("NFPS"), a wholly owned subsidiary of The Nasdaq Stock Market,
Inc. ("NASDAQ," and collectively with its affiliates except NFPS,
the "Corporations"). Investment returns and principal value will
fluctuate so that an investor's shares, when redeemed or sold, may
be worth more or less than the original cost. "NASDAQ" and related
marks are trademarks or service marks of NASDAQ and have been
licensed for use for certain purposes by NFPS. The NASDAQ-100 Index
is comprised and calculated by NASDAQ without regard to the
NASDAQ-100 Index Tracking Stock. The Corporations make no warranty,
express or implied, and bear no liability with respect to
NASDAQ-100 Index Tracking Stock. The Corporations and NFPS make no
warranty, express or implied, and bear no liability with respect to
the NASDAQ-100 Index, its use or any data included therein. The
Corporations do not guarantee the accuracy or the completeness of
the Index, or any data used to calculate the index, or determine
the index components. Company briefs: The following are brief
descriptions of the eight companies added to the NASDAQ-100 Index
in descending order based on market capitalization: Marvell
Technology Group, Ltd. is a global semiconductor provider of
complete broadband communications and storage solutions. The
company's diverse product portfolio includes switching,
transceiver, communications controller, wireless and storage
solutions that power the entire communications infrastructure,
including enterprise, metro, home and storage networking. The
Hamilton, Bermuda, company had a market capitalization of $5.6
billion at the time of ranking. Garmin Ltd. provides navigation,
communications, and information devices, most of which are enabled
by Global Positioning System (GPS) technology. The Company designs,
develops, manufactures, and markets hand-held, portable, and fixed
mount GPS-enabled products and other navigation, communications,
and information products under the GARMIN brand name. The George
Town, Grand Cayman, Cayman Islands, company had a market
capitalization of $5.4 billion at the time of ranking. Career
Education Corporation provides private, for-profit postsecondary
education in the United States, Canada, France, the United Kingdom
and the United Arab Emirates. The Company's schools offer a variety
of doctoral degree, master's degree, bachelor's degree, associate
degree, and non-degree programs, with a core curricula of
information technologies, visual communication and design
technologies, business studies, culinary arts and health education.
The Hoffman Estates, Illinois, company had a market capitalization
of $5.4 billion at the time of ranking. Lam Research Corporation
manufactures, markets, and services semi- conductor processing
equipment used in the making of integrated circuits. The Company's
products are used to deposit special films on a silicon wafer and
etch away portions of various films to create a circuit design. Lam
sells its products around the world. The Fremont, California,
company had a market capitalization of $3.8 billion at the time of
ranking. Level 3 Communications, Inc. is an international
communications and information services company. The company offers
a wide range of communications services over its 22,500 mile
broadband fiber optic network including Internet Protocol (IP)
services, broadband transport and infrastructure services,
colocation services, and patented Softswitch managed modem and
voice services. The Broomfield, Colorado, company had a market
capitalization of $3.6 billion at the time of ranking. Intersil
Corporation designs and manufactures high performance analog
semiconductors. The company's products address three industry
markets: flat panel displays, optical storage (CD and DVD
recordable) and power management. The Milpitas, California, company
had a market capitalization of $3.6 billion at the time of ranking.
ATI Technologies Inc. supplies three-dimensional graphics and
multimedia technology. The Company designs, manufactures, and
markets multimedia solutions and graphics components for personal
computers. ATI supplies video and two dimensional/three dimensional
graphics accelerators to original equipment manufacturers and
retail customers. The Markham, Ontario, Canada, company had a
market capitalization of $3.5 billion at the time of ranking.
Research In Motion Limited designs, manufactures, and markets
wireless consumer and business-to-business electronic technology
for the worldwide mobile personal communications market. The
Company's products include two-way interactive pagers, wireless
personal computer card adapters, software connectivity tools, and
embedded wireless radios. The Waterloo, Ontario, Canada, company
had a market capitalization of $3.5 billion at the time of ranking.
DATASOURCE: NASDAQ CONTACT: Wayne Lee of NASDAQ, +1-301-978-4875
Web site: http://www.nasdaq-100.com/ http://www.nasdaqnews.com/
http://www.nasdaq.com/
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