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Standard & Poor's Announces Changes to U.S. Indices

NEW YORK, Aug. 13 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500 and S&P SmallCap 600 indices:

-- Invesco Ltd. (NYSE: IVZ) will replace IAC/InterActiveCorp. (Nasdaq: IACI) in the S&P 500, HSN Inc. (Nasdaq when-issued: HSNIV) will replace Tronox Inc. (NYSE: TRX.B) in the S&P SmallCap 600, Interval Leisure Group Inc. (Nasdaq when-issued: IILGV) will replace Downey Financial Corp. (NYSE: DSL) in the S&P SmallCap 600, and Ticketmaster (Nasdaq when-issued: TKTMV) will replace Ditech Networks Inc. (Nasdaq: DITC) in the S&P SmallCap 600 after the close of trading on Wednesday, August 20. IAC/InterActive is spinning off the businesses of HSN, Interval Leisure Group and Ticketmaster in a transaction expected to be completed after the close of trading on that date. As of today's close of trading, Tronox, Downey Financial and Ditech Networks all had market capitalizations well below the S&P SmallCap 600's target range.

-- The Buckle Inc. (NYSE: BKE) will replace W-H Energy Services Inc. (NYSE: WHQ) in the S&P SmallCap 600 after the close of trading on Tuesday, August 19. W-H Energy is being acquired by S&P 500 constituent Smith International Inc. (NYSE: SII) in a transaction expected to be completed on or about that date, pending final approvals.

-- Stepan Co. (NYSE: SCL) will replace Building Materials Holding Corp. (NYSE: BLG) in the S&P SmallCap 600 after the close of trading on Tuesday, August 19. As of today's close of trading Building Materials had a market capitalization of approximately $51 million, whereas the minimum market cap a company must maintain in order to be eligible for addition to the index is $300 million.

Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.

Invesco is an investment management company. Headquartered in Atlanta, GA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Asset Management & Custody Banks Sub-Industry index.

HSN offers products through television home shopping programming on the HSN television network and HSN.com. Headquartered in St. Petersburg, FL, the company will be added to the S&P SmallCap 600 GICS Catalog Retail Sub-Industry index.

Interval Leisure Group provides membership services to the vacation ownership industry. Headquartered in Miami, FL, the company will be added to the S&P SmallCap 600 GICS Hotels, Resorts & Cruise Lines Sub-Industry index.

Ticketmaster provides ticket sales, ticket resale services, marketing and distribution services. Headquartered in West Hollywood, CA, the company will be added to the S&P SmallCap 600 GICS Internet Retail Sub-Industry index.

The Buckle offers casual apparel, footwear and accessories for young men and women in the U.S. Headquartered in Kearney, NE, the company will be added to the S&P SmallCap 600 GICS Apparel Retail Sub-Industry index.

Stepan produces surfactants and other specialty chemicals used in household, industrial, personal care, agricultural and energy-related products. Headquartered in Northfield, IL, the company will be added to the S&P SmallCap 600 GICS Specialty Chemicals Sub-Industry index.

    Following is a summary of the changes:


                       S&P 500 INDEX - August 20, 2008

                   COMPANY          GICS ECONOMIC SECTOR   GICS SUB-INDUSTRY

    ADDED          Invesco            Financials           Asset Management &
                                                             Custody Banks

    DELETED    IAC/InterActive    Consumer Discretionary    Internet Retail



                   S&P SMALLCAP 600 INDEX - August 20, 2008

                 COMPANY             GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY

    ADDED         HSN               Consumer Discretionary     Catalog Retail
           Interval Leisure Group   Consumer Discretionary    Hotels, Resorts
                                                               & Cruise Lines
              Ticketmaster          Consumer Discretionary     Internet Retail

    DELETED       Tronox                 Materials         Commodity Chemicals
             Downey Financial            Financials         Thrifts & Mortgage
                                                                  Finance
              Ditech Networks       Information Technology    Communications
                                                                Equipment


                   S&P SMALLCAP 600 INDEX - August 19, 2008

                    COMPANY       GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY

    ADDED          The Buckle    Consumer Discretionary       Apparel Retail
                     Stepan           Materials            Specialty Chemicals

    DELETED        W-H Energy           Energy             Oil & Gas Equipment
                                                               & Services
               Building Materials    Industrials           Trading Companies
                                                              & Distributors

Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.

About Standard & Poor's Index Services

Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries. Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

SOURCE Standard & Poor's

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