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

NEW YORK, Dec. 19 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600
indices: 


    -- S&P MidCap 400 constituent The Washington Post Co. (NYSE:WPO) will
       replace Temple-Inland Inc. (NYSE:TIN) in the S&P 500, and the new
       Temple-Inland Inc. (NYSE:TINwi) will replace Washington Post in the S&P
       MidCap 400 after the close of trading on Friday, December 28.
       Temple-Inland is expected to complete its breakup into three separate
       companies on or about that date.
    -- Guaranty Financial Group Inc. (NYSE:GFGwi) will replace Ashworth Inc.
       (NASD:ASHW) in the S&P SmallCap 600 and Forestar Real Estate Group
       Inc. (NYSE:FORwi) will replace MIVA Inc. (NASD:MIVA), also in the S&P
       SmallCap 600, after the close of trading on Friday, December 28.
       Guaranty Financial Group and Forestar Real Estate Group are being spun
       off by Temple-Inland in a transaction expected to close on or about
       that date. At today's close of trading, Ashworth and MIVA had market
       capitalizations which ranked them 600 and 598, respectively, in the S&P
       SmallCap 600.
    -- Total System Services Inc. (NYSE: TSSwi) will replace Synovus Financial
       Corp. (NYSE:SNV) in the S&P 500 and the new Synovus Financial Corp.
       (NYSE:SNVwi) will replace S&P MidCap 400 constituent Powerwave
       Technologies Inc. (NASD:PWAV) in the S&P MidCap 400 after the close of
       trading on Monday, December 31. Synovus Financial is spinning off Total
       System Services in a deal expected to close on or about that date. At
       today's close of trading, Powerwave Technologies had a market value of
       $566 million, whereas the minimum market cap a company must maintain to
       be eligible for admission to the S&P MidCap 400 is currently $1.5
       billion.
    -- Foundry Networks (NASD:FDRY) will replace Andrew Corp. (NASD:ANDW) in
       the S&P MidCap 400 after the close of trading on December 27. Andrew is
       being acquired by S&P MidCap 400 constituent CommScope Inc. (NYSE:CTV)
       in a transaction expected to close on or about that date.


Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: www.standardandpoors.com. 
Washington Post publishes The Washington Post newspaper and Newsweek
magazine, operates TV stations and cable systems, and provides education and
database services. Headquartered in Washington, D.C., the company will be
added to the S&P 500 GICS (Global Industry Classification Standard) Publishing
Sub-Industry index. 
Temple-Inland manufactures paper, corrugated packaging and building
materials. Headquartered in Austin, TX, the company will be added to the S&P
MidCap 400 GICS Paper Packaging Sub-Industry index. 
Guaranty Financial Group operates a federally chartered savings bank and
an insurance company.  Headquartered in Austin, TX, the company will be added
to the S&P SmallCap 600 GICS Thrifts & Mortgage Finance Sub-Industry index. 
Forestar Real Estate Group is a real estate investment and development
company.  Headquartered in Austin, TX, the company will be added to the S&P
SmallCap 600 GICS Real Estate Management & Development Sub-Industry index. 
Total System Services processes data, transactions and payments for
domestic and international issuers of credit, debit, commercial, and private-label cards.  Headquartered in Columbus, GA, the company will be added to the
S&P 500 GICS Data Processing & Outsourced Services Sub-Industry index. 
Synovus Financial owns community banks in Georgia and four other southern
states.  Headquartered in Columbus, GA, the company will be added to the S&P
MidCap 400 GICS Regional Banks Sub-Industry index. 
Foundry Networks makes high-performance Gigabit Ethernet switches and
various other switches for network deployment. Headquartered in Santa Clara,
CA, the company will be added to the S&P MidCap 400 GICS Communications
Equipment Sub-Industry index. 


    Following is a summary of the changes:
                   S&P MIDCAP 400 INDEX - December 27, 2007
             COMPANY        GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY
    ADDED    Foundry            Information            Communications
             Networks           Technology             Equipment
    DELETED  Andrew             Information            Communications
                                Technology             Equipment
                      S&P 500 INDEX - December 28, 2007
                  COMPANY        GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY
      ADDED    Washington Post       Consumer               Publishing
                                     Discretionary
      DELETED  Temple-Inland         Materials              Paper Packaging
                   S&P MIDCAP 400 INDEX - December 28, 2007
               COMPANY        GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY
    ADDED    Temple-Inland       Materials               Paper Packaging
             (New)
    DELETED  Washington Post     Consumer                Publishing
                                 Discretionary
                  S&P SMALLCAP 600 INDEX - December 28, 2007
              COMPANY        GICS ECONOMIC SECTOR     GICS SUB-INDUSTRY
    ADDED    Guaranty           Financials             Thrifts and
             Financial Group                           Mortgage Finance
             Forestar Real      Financials             Real Estate
             Estate Group                              Management &
                                                       Development
    DELETED  Ashworth           Consumer               Apparel,
                                Discretionary          Accessories &
                                                       Luxury Goods
             MIVA               Information            Internet Software
                                Technology             & Services
                      S&P 500 INDEX - December 31, 2007
              COMPANY        GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY
    ADDED    Total System       Information            Data Processing &
             Services           Technology             Outsourced
                                                       Services
    DELETED  Synovus            Financials             Regional Banks
                   S&P MIDCAP 400 INDEX - December 31, 2007
              COMPANY        GICS ECONOMIC SECTOR      GICS SUB-INDUSTRY
    ADDED    Synovus (New)      Financials             Regional Banks
    DELETED  Powerwave          Information            Communications
             Technologies       Technologies           Equipment


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- Dec/19/2007 22:52 GMT
 
 
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