NEW YORK, April 7, 2006 (PRIMEZONE) -- Dow Jones Indexes, a leading global index provider, today announced a change in the composition of the Dow Jones Wilshire Real Estate Securities Index (RESI) and the Dow Jones Wilshire Global Real Estate Securities Index (GRESI).
Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) will be removed from the Dow Jones Wilshire Real Estate Securities Index (RESI) and the Dow Jones Wilshire Global Real Estate Securities Index (GRESI). Following the sale of a number of hotel properties to Host Marriott Corp. (NYSE:HMT), Starwood Hotels & Resorts will no longer meet the eligibility requirements for these indexes, specifically that each component must derive 75% of its revenues from the ownership and operation of real estate property. After the sale is consummated, the percentage of the company's revenue generated from the ownership and operation of real estate assets will be substantially reduced. The removal is occurring in the same month as the transaction, rather than during the next index review in June, because the property sale is a discrete corporate action.
The changes in the Dow Jones Wilshire Real Estate Securities Index (RESI) and the Dow Jones Wilshire Global Real Estate Securities Index (GRESI) will be effective before the open of trading on April 24, 2006.
Further information on the Dow Jones Wilshire indexes is available on the Dow Jones Indexes (www.djindexes.com) and Wilshire Associates (www.wilshire.com) Web sites.
Company additions to and deletions from the Dow Jones Real Estate Securities (RESI) and Dow Jones Wilshire Global Real Estate Securities (RESI) Indexes do not in any way reflect an opinion on the investment merits of the company.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: +49-69-29-725290
To contact Wilshire Associates public relations, please email
kim.shepherd@wilshire.com or call: Chicago: Kim Shepherd, +1-847-332-2987
Note to Editors:
About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE:DJ) (www.dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva and with Hearst of SmartMoney. Dow Jones also provides news content to CNBC and radio stations in the U.S.
About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units: Wilshire Analytics, Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. The firm was founded in 1972, revolutionizing the industry by pioneering the application of investment analytics and research to investment management for the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire's strong analytics foundation.
Wilshire developed the index now known as the Dow Jones Wilshire 5000sm Composite Index, the first asset/liability models for pension funds, the first U.S. equity style metrics work and many other "firsts" as the firm grew to more than 300 employees serving the investment needs of institutional and high net worth clients around the world.
Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With eight offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. Please visit www.wilshire.com for more information.
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