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

NEW YORK, March 27 /PRNewswire-FirstCall/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400, S&P SmallCap 600, and S&P REIT Composite indices:

-- S&P MidCap 400 constituent Abercrombie & Fitch Co. will replace Univision Communications Inc. in the S&P 500, S&P SmallCap 600 constituent Phillips-Van Heusen Corp. will replace Abercrombie & Fitch in the S&P MidCap 400, and Blackbaud Inc. will replace Phillips-Van Heusen in the S&P SmallCap 600 after the close of trading on Wednesday, March 28. Univision is being acquired by an investor group including Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group in a deal expected to close on or about that date, pending final approvals. -- S&P SmallCap 600 constituent NVR Inc. will replace New Plan Excel Realty Trust Inc. in the S&P MidCap 400, Arris Group Inc. will replace NVR Inc. in the S&P SmallCap 600, and One Liberty Properties Inc. will replace New Plan Excel Realty Trust in the S&P REIT Composite after the close of trading on Wednesday, April 4. New Plan Excel Realty Trust is being acquired by S&P Global 1200 constituent Centro Properties Group in a deal expected to close on or about that date, pending final approvals. -- Spartan Stores Inc. will replace Carreker Corp. in the S&P SmallCap 600 after the close of trading on Friday, March 30. Carreker is being acquired by S&P MidCap 400 constituent Checkfree Corp. in a deal expected to close on or about that date, pending final approvals. -- Education Realty Trust Inc. will replace The Mills Corp. in the S&P REIT Composite after the close of trading on Wednesday, March 28. Mills is being acquired by S&P 500 and S&P REIT Composite constituent Simon Property Group Inc. in a deal expected to close on or about that date, pending final approvals.

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

Abercrombie & Fitch operates as a specialty retailer in the United States. Headquartered in New Albany, OH, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Apparel Retail Sub-Industry index.

Phillips-Van Heusen engages in the design and marketing of various apparel products. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS Apparel, Accessories & Luxury Goods Sub-Industry index.

Blackbaud provides software and related services for nonprofit organizations. Headquartered in Charleston, SC, the company will be added to the S&P SmallCap 600 GICS Application Software Sub-Industry index.

NVR Inc. operates as a homebuilder in the United States. Headquartered in Reston, VA, the company will be added to the S&P MidCap 400 GICS Homebuilding Sub-Industry index.

Arris Group operates as a communications technology company. Headquartered in Suwanee, GA, the company will be added to the S&P SmallCap 600 GICS Communications Equipment Sub-Industry index.

One Liberty Properties is a REIT that engages in the acquisition, ownership, and management of commercial real estate properties in the United States. Headquartered in Great Neck, NY, the company will be added to the S&P REIT Composite Diversified REITs sub-industry.

Spartan Stores engages in the distribution and retailing of groceries. Headquartered in Grand Rapids, MI, the company will be added to the S&P SmallCap 600 GICS Food Distributors Sub-Industry index.

Education Realty Trust is a REIT that engages in the acquisition, ownership, leasing, and management of student housing communities near university campuses in the United States. Headquartered in Memphis, TN, the company will be added to the S&P REIT Composite Residential REITs sub-industry.

Following is a summary of the changes: S&P 500 INDEX - March 28, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Abercrombie & Consumer Apparel Retail Fitch Discretionary DELETED Univision Consumer Broadcasting & Cable TV Discretionary S&P MIDCAP 400 INDEX - March 28, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Phillips-Van Consumer Apparel, Accessories & Heusen Discretionary Luxury Goods DELETED Abercrombie & Consumer Apparel Retail Fitch Discretionary S&P MIDCAP 400 INDEX - April 4, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED NVR Inc. Consumer Homebuilding Discretionary DELETED New Plan Excel Financials Retail REITs Realty Trust S&P SMALLCAP 600 INDEX - March 28, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Blackbaud Information Application Software Technology DELETED Phillips-Van Consumer Apparel, Accessories & Heusen Discretionary Luxury Goods S&P SMALLCAP 600 INDEX - March 30, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Spartan Stores Consumer Staples Food Distributors DELETED Carreker Information Data Processing & Technology Outsourced Services S&P SMALLCAP 600 INDEX - April 4, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Arris Group Information Communications Technology Equipment DELETED NVR Inc. Consumer Homebuilding Discretionary S&P REIT COMPOSITE INDEX - March 28, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Education Financials Residential REITs Realty Trust DELETED Mills Financials Retail REITs S&P REIT COMPOSITE INDEX - April 4, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED One Liberty Financials Diversified REITs Properties DELETED New Plan Excel Financials Retail REITs Realty Trust

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 , is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 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/.

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