NEW YORK, Feb. 28, 2007 (PRIME NEWSWIRE) -- Dow Jones & Company (NYSE:DJ) today issued the following statement in response to a letter from the House Committee on Financial Services to the New York Stock Exchange and Dow Jones:
"Dow Jones issued a press release this morning explaining the systems problem that affected calculation of Dow Jones Indexes for a 70-minute period yesterday, and we look forward to providing an in-depth briefing to the House Committee on Financial Services.
"It is important to understand that Dow Jones has no role in trading stocks or pricing individual securities, including securities underlying our Indexes. We are conducting a detailed review of yesterday's events and do not believe the calculation delay or the subsequent catch-up in the Dow Jones Industrial Average (DJIA) exacerbated the market decline, as the market was down sharply during the 70-minute period and rebounded strongly soon after the DJIA was brought current. We regret yesterday's unprecedented events and are taking remedial actions to prevent their recurrence, but we have no reason to believe any investors were harmed."