NEW YORK, Sept. 18, 2007 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced component changes in the Dow Jones Islamic Market Titans 100 Index and its subindexes, the Dow Jones Islamic Market Asia/Pacific Titans 25 Index and the Dow Jones Islamic Market U.S. Titans 50 Index as a result of the regular quarterly review of the Dow Jones Islamic Market Indexes and will be effective before the open of trading on Monday, September 24, 2007.
Nintendo Co. Ltd (Japan, Personal & Household Goods, 7974.OK; NTDOY) will be deleted from the Dow Jones Islamic Market Titans 100 Index and its subindex, the Dow Jones Islamic Market Asia/Pacific Titans 25 Index and will be replaced by Nippon Steel Corp. (Japan, Basic Materials, 5401.TO; NISTY)
Apple Inc. (United States, Technology, AAPL) will be deleted from the Dow Jones Islamic Market Titans 100 Index and its subindex, the Dow Jones Islamic Market U.S. Titans 100 Index and will be replaced by AT&T Inc. (United States, Telecommunications, T).
Nintendo Co. Ltd and Apple Inc are being deleted from the indexes due to their removal from the Dow Jones Islamic Market World Index in which the companies did not pass the business screening requirements. Normally, component changes are made to the Dow Jones Islamic Market Titans 100 Index annually in June.
The Dow Jones Islamic Market Titans 100 comprises the Dow Jones Islamic Market U.S. Titans 50 Index, Dow Jones Islamic Market Europe Titans 25 Index and Dow Jones Islamic Market Asia/Pacific Titans 25 Index.
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Titans 100 Index increased to US$7.82 trillion from US$7.70 trillion as of August 31, 2007.
Component changes made during the review are also applied to all Dow Jones Islamic Market Indexes to ensure compliance with Shari'ah principles. To determine their eligibility for the Dow Jones Islamic Market Titans 100, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Dow Jones Indexes then screens out companies with unacceptable financial ratios: companies whose total debt divided by trailing 12-month average market capitalization is 33% or more; those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more and those whose accounts receivables divided by trailing 12-month average market capitalization is 33% or more.
The Dow Jones Islamic Market Indexes were created for people who wish to invest according to Islamic investment guidelines. The indexes track Shari'ah compliant stocks from around the world, providing Islamic investors with comprehensive tools based on a truly global investing perspective.
Further information on the Dow Jones Islamic Market Indexes can be found on the Dow Jones Indexes Web site at http://www.djindexes.com
Company additions to and deletions from the Dow Jones Islamic Market Titans 100 and its subindexes 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: +49-69-29725-290
Note to Editors:
About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
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