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Cleveland BioLabs Set to Join Russell Microcap Index
| Source: Cleveland BioLabs, Inc.
CLEVELAND, OH--(Marketwire - June 12, 2007) - Cleveland BioLabs, Inc. (NASDAQ : CBLI ) (BOST : CFB ) today announced that it will join the Russell Microcap™ Index when
Russell Investment Group reconstitutes its family of U.S. indexes on June
22, according to a preliminary list of additions posted Friday on
www.russell.com.
Membership in the Russell Microcap Index, which remains in place for one
year, means automatic inclusion in the appropriate growth and value style
indexes. Russell determines membership for its equity indexes primarily by
objective, market-capitalization rankings and style attributes.
Dr. Michael Fonstein, Chief Executive Officer and President of Cleveland
BioLabs, stated, "Our addition to the Index is reflective of the Company's
significant growth and development since our IPO last year. We look
forward to increased visibility resulting from our inclusion."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. An industry-leading $4 trillion in assets currently
are benchmarked to them.
Annual reconstitution of Russell indexes captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market capitalization to
create the Russell 3000® Index and Russell Microcap. The largest 1,000
companies in the ranking comprise the large-cap Russell 1000® Index and
the next 2,000 companies become the widely used small-cap Russell 2000®
Index. These investment tools originated from Russell's multi-manager
investment business in the early 1980s when the company saw the need for a
more objective, market-driven set of benchmarks in order to evaluate
outside investment managers.
About Russell
Russell Investment Group aims to improve financial security for people by
providing strategic advice, world-class implementation, state-of-the-art
performance benchmarks, and a range of institutional-quality investment
products. With more than $200 billion in assets under management, Russell
serves individual, institutional and advisor clients in more than 40
countries. Russell provides access to some of the world's best money
managers. It helps investors put this access to work in corporate defined
benefit and defined contribution plans, and in the life savings of
individual investors. Founded in 1936, Russell is a subsidiary of
Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash.,
U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong,
Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore,
Sydney, Tokyo and Toronto.
Russell's indexes are unmanaged and cannot be invested in directly. For
more information on Russell indexes, go to www.russell.com.
About Cleveland BioLabs, Inc.
Cleveland BioLabs, Inc. is a drug discovery and development company
leveraging its proprietary discoveries about programmed cell death to treat
cancer and protect normal tissues from exposure to radiation and other
stresses. The Company has strategic partnerships with the Cleveland Clinic
Foundation, Roswell Park Cancer Institute, ChemBridge Corporation and the
Armed Forces Research Radiobiology Institute. To learn more about Cleveland
BioLabs, Inc., please visit the company's website at
http://www.cbiolabs.com.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect management's current expectations, as of the date of
this press release, and involve certain risks and uncertainties. Our actual
results could differ materially from those anticipated in these
forward-looking statements as a result of various factors. Some of the
factors that could cause future results to materially differ from the
recent results or those projected in forward-looking statements include the
"Risk Factors" described in our Registration Statement on Form SB-2/A filed
with the Securities and Exchange Commission on September 8, 2006.