Standard & Poor's Announces Changes to U.S. Indices
NEW YORK, Sept. 21 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P SmallCap 600 and S&P REIT Composite indices after the close of trading on Tuesday, September 27, 2005:
-- Prosperity Bancshares Inc. (Nasdaq: PRSP) will replace CRT Properties Inc. (NYSE: CRO) in the S&P SmallCap 600. CRT is being acquired by clients advised by DRA Advisors LLC, along with S&P SmallCap 600 and S&P REIT Composite constituent Colonial Properties Trust (NYSE: CLP), in a deal that is expected to close on that date, pending final approvals. -- LTC Properties Inc. (NYSE: LTC) will replace CRT Properties Inc. (NYSE: CRO) in the S&P REIT Composite.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com .
Prosperity Bancshares provides a line of financial products and services to small and medium-sized businesses and consumers. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Regional Banks Sub-Industry Index.
LTC Properties invests primarily in long-term care and other health care-related properties. Headquartered in Malibu, CA, the company will be added to the S&P REIT Composite Health Care property category.
Following is a summary of the changes: S&P SMALLCAP 600 INDEX - September 27, 2005 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Prosperity Bancshares Financials Regional Banks DELETED CRT Properties Financials Real Estate Investment Trusts S&P REIT COMPOSITE INDEX - September 27, 2005 COMPANY REIT TYPE PROPERTY CATEGORY ADDED LTC Properties Hybrid Health Care DELETED CRT Properties Equity Industrial/Office
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
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SOURCE Standard & Poor's
CONTACT: David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee (212-438-3907) -0- Sep/21/2005 22:32 GMT