CDS IndexCo and Markit Announce Removals from the CDX North America High Yield Index and the CDX North America Investment Grade Index
The IG Index Is Expected to Roll on September 20, 2007;
The HY Index Is Expected to Roll on September 27, 2007
New York, 6 September, 2007 – CDS IndexCo LLC (“CDS IndexCo”), a consortium of 16 investment banks licensed as market makers in the CDX indices, and Markit Group Limited (“Markit”), the leading provider of independent data, portfolio valuations and OTC derivatives trade processing, today announced which companies will be removed from the CDX NA Investment Grade Index (CDX.NA.IG) and the CDX NA High Yield Index (CDX.NA.HY). The IG and HY indices are expected to roll on September 20 and September 27, 2007, respectively. The portfolio selection process was conducted by Markit, the administrator of the indices, with input from the member banks of the CDS IndexCo consortium.
The member banks that are part of the CDS IndexCo consortium include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
COMPANIES TO BE REMOVED FROM THE INDICES
The following table outlines the companies that will be removed from the CDX.NA.HY and CDX.NA.IG indices. Companies that will be added to the indices are expected to be announced on Monday September 10, 2007 for CDX.NA.HY, and Friday, September 7, 2007 for CDX.NA.IG after the close of the market via press release. The changes to both indices will be effective as of the roll date.
| INDEX | REMOVED |
| CDX.NA.HY Series 9 | • Delhaize America, Inc. • Huntsman International LLC • Lucent Technologies Inc. • Parker Drilling Company • Reynolds American Inc. • Solectron Corporation • Triad Hospitals, Inc. |
| CDX.NA.IG Series 9 | • First Data Corporation • Olin Corporation • Temple-Inland Inc. • Boston Scientific Corporation • Residential Capital, LLC • ALLTEL Corporation • Expedia, Inc. • Tyson Foods, Inc. |
Additionally, for the CDX.NA.HY Index, the reference obligation for KB Home will be changed from a subordinated bond to a senior bond; this change will be effective for Series 9.
The indices are scheduled to roll every six months in order to rebalance the portfolio as necessary.
To view the underlying constituents of each index, daily prices and spreads, constituent information and documentation for CDX.NA.HY and CDX.NA.IG, please go to www.markit.com.
For additional information regarding this press release please contact:
CDS IndexCo
Michael Mandelbaum
Tel: +1 310 785-0810
Email: michael@mandelbaummorgan.com
Markit
Teresa Chick
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com
About CDS IndexCo
CDS IndexCo is a consortium of 16 investment banks which are licensed as market makers in the CDX indices. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
About Markit
Markit Group Limited ("Markit") is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from over 85 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.