WESTLAKE VILLAGE, Calif., July 10, 2002 (PRIMEZONE) -- United Online (Nasdaq:UNTD), a leading provider of value-priced Internet access through its NetZero and Juno Internet services, today announced that its common stock has been added to the Russell 2000(r) Index, effective July 1, 2002.
Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
"We are pleased to be included in this prominent index and consider it a reflection of the investment community's increased confidence in United Online's business model and the value we are creating for our shareholders," remarked Mark R. Goldston, chairman, CEO and president of United Online.
About United Online
United Online, Inc. (Nasdaq:UNTD) is a leading Internet service provider that commenced operations in September 2001 with the merger of NetZero and Juno Online Services. The company offers free and value-priced Internet access through its NetZero and Juno Internet services in more than 5,000 cities across the United States and in Canada. The company also offers high-speed Internet access in select locations in the United States. United Online is headquartered in Westlake Village, Calif., with offices in New York City and Hyderabad, India. For more information about United Online and its Internet access services, please visit www.unitedonline.net.
About Frank Russell Company
Frank Russell Company, one of the world's leading investment management and advisory firms, provides investment advice, analytic tools and funds to institutional and individual investors in 35 countries. Russell's investment management business employs a manager-of-managers approach with $60 billion in assets under management. The company has retainer consulting relationships with clients representing more than US$1 trillion worldwide. Frank Russell became a subsidiary of The Northwestern Mutual Life Insurance Company in January 1999. Founded in 1936, Russell is headquartered in Tacoma, Wash., and has offices in New York, Toronto, London, Paris, Sydney, Auckland, Singapore and Tokyo. Web site: www.russell.com.