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

NEW YORK, April 27 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P SmallCap 600 and S&P REIT Composite indices: 


    -- Sterling Bancorp (NYSE: STL) will replace Pegasus Solutions Inc.
       (NASD: PEGS) in the S&P SmallCap 600 after the close of trading on
       Wednesday, May 3, 2006.  Pegasus is being acquired by Prides Capital
       Partners LLC in a deal expected to close on or about that date, pending
       final approval.
    -- Radio One Inc. (NASD: ROIAK) will replace iPayment Inc. (NASD: IPMT) in
       the S&P SmallCap 600 after the close of trading on Friday, May 5, 2006.
       iPayment is being taken private in a deal expected to close on or about
       that date, pending final approval.
    -- Digital Realty Trust Inc. (NYSE: DLR) will replace MeriStar Hospitality
       Corp. (NYSE: MHX) in the S&P REIT Composite after the close of trading
       on Tuesday, May 2, 2006.  MeriStar is being acquired by The Blackstone
       Group and affiliates in a deal expected to close on or about that date,
       pending final approval.
    -- Sunstone Hotel Investors Inc. (NYSE: SHO) will replace Arden Realty
       Inc. (NYSE: ARI) in the S&P REIT Composite after the close of trading
       on Tuesday, May 2, 2006.  Arden is being acquired by GE Real Estate in
       a deal expected to close on or about that date, pending final approval.
    -- First Potomac Realty Trust (NYSE: FPO) will replace Bedford Property
       Investors Inc. (NYSE: BED) in the S&P REIT Composite after the close of
       trading on Wednesday, May 3, 2006.  Bedford is being acquired by an
       affiliate of LBA Realty LLC in a deal expected to close on or about
       that date, pending final approval.


Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: http://www.standardandpoors.com. 
Sterling Bancorp provides commercial banking services.  Headquartered in
New York, NY, the company will be added to the S&P SmallCap 600 GICS (Global
Industry Classification Standard) Regional Banks Sub-Industry index. 
Radio One operates radio broadcasting stations.  Headquartered in Lanham,
MD, the company will be added to the S&P SmallCap 600 Broadcasting & Cable TV
Sub-Industry index. 
Digital Realty Trust is a REIT that specializes in the ownership and
management of technology-related real estate.  Headquartered in San Francisco,
CA, the company will be added to the S&P REIT Composite GICS  Specialized
REITs Sub-Industry index. 
Sunstone Hotel Investors buys, owns and renovates primarily upper-upscale
full-service hotels.  Headquartered in San Clemente, CA, the company will be
added to the S&P REIT Composite GICS Specialized REITs Sub-Industry index. 
First Potomac Realty Trust buys, owns, and operates industrial and flex
properties in the Washington, D.C. metropolitan area, as well as in Virginia
and Maryland.  Headquartered in Bethesda, MD, the company will be added to the
S&P REIT Composite GICS Industrial REITs Sub-Industry index. 


    Following is a summary of the changes:
                     S&P SMALLCAP 600 INDEX - May 3, 2006
            COMPANY            GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
    ADDED   Sterling Bancorp   Financials              Regional Banks
    DELETED Pegasus Solutions  Information Technology  Data Processing &
                                                        Outsourced Solutions
                     S&P SMALLCAP 600 INDEX - May 5, 2006
               COMPANY       GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
    ADDED      Radio One     Consumer Discretionary  Broadcasting & Cable TV
    DELETED    iPayment      Information Technology  Data Processing &
                                                      Outsourced Services
                    S&P REIT COMPOSITE INDEX - May 2, 2006
             COMPANY                  GICS ECONOMIC SECTOR   GICS SUB-INDUSTRY
    ADDED    Digital Realty Trust     Financials             Specialized REITs
             Sunstone Hotel Investors Financials             Specialized REITs
    DELETED  MeriStar Hospitality     Financials             Specialized REITs
             Arden Realty             Financials             Office REITs
                    S&P REIT COMPOSITE INDEX - May 3, 2006
             COMPANY               GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
    ADDED    First Potomac Realty  Financials              Industrial REITs
              Trust
    DELETED  Bedford Property      Financials              Diversified REITs
              Investors


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 
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is
the world's foremost provider of independent credit ratings, indices, risk
evaluation, investment research and data. With approximately 6,300 employees
located in 21 countries and markets, 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. 
About The McGraw-Hill Companies 
Founded in 1888, The McGraw-Hill Companies is a leading global information
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and business information markets through leading brands such as Standard &
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http://www.mcgraw-hill.com/. 

SOURCE  Standard & Poor's 
CONTACT:
David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee 
(212) 438-3907
-0- Apr/27/2006 22:01 GMT
 
 
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