WYPT Waypoint Financial Corp (MM)

Standard & Poor's Announces Change to U.S. Index NEW YORK, Jan. 18 /PRNewswire-FirstCall/ -- Connetics Corp. (NASDAQ:CNCT) will replace Waypoint Financial Corp. (NASDAQ:WYPT) in the S&P SmallCap 600 after the close of trading on Friday, January 21. Waypoint Financial is being acquired by S&P 500 constituent Sovereign Bancorp Inc. (NYSE:SOV) in a deal expected to close on or about that date. Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/. Connetics Corp. is a specialty pharmaceutical company focusing on the treatment of dermatological conditions. Headquartered in Palo Alto, CA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Pharmaceuticals Sub-Industry Index. Following is a summary of the change: S&P SMALLCAP 600 INDEX - January 21, 2005 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Connetics Corp. Health Care Pharmaceuticals DELETED Waypoint Financial Financials Thrifts & Mortgage Finance Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned. About Standard & Poor's Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 6,000 employees in 21 countries, 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/. Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 280 offices in 40 countries. Sales in 2003 were $4.8 billion. Additional information is available at http://www.mcgraw-hill.com/. DATASOURCE: Standard & Poor's CONTACT: David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee (212) 438-3907 Web site: http://www.standardandpoors.com/ http://www.mcgraw-hill.com/

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