Essex Property Set to Join S&P 500; Cliff Natural Resources, FEI to Join S&P MidCap 400; Fabrinet, Albany Molecular Research to Join S&P SmallCap 600

NEW YORK, March 26, 2014 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Tuesday, April 1:

• S&P MidCap 400 constituent Essex Property Trust Inc. (NYSE:ESS) will replace Cliffs Natural Resources Inc. (NYSE:CLF) in the S&P 500, Cliffs Natural Resources will replace Essex Property Trust in the S&P MidCap 400, S&P SmallCap 600 constituent FEI Co. (NASD:FEIC) will replace BRE Properties Inc. (NYSE:BRE) in the S&P MidCap 400, and Fabrinet (NYSE:FN) will replace FEI in the S&P SmallCap 600. Essex is acquiring BRE Properties in a deal expected to be completed after the close on April 1. Cliff Natural Resources and FEI have market capitalizations that are more representative of the mid-cap market space.
• Albany Molecular Research Inc. (NASD:AMRI) will replace Supertex Inc. (NASD:SUPX) in the S&P SmallCap 600. S&P 500 constituent Microchip Technology Inc. (NASD:MCHP) is acquiring Supertex in a deal expected to be completed on or about April 1.

Essex Property, a real estate investment trust (REIT), engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities. Headquartered in Palo Alto, CA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Residential REITs Sub-Industry index.

Cliffs Natural Resources produces iron ore and metallurgical coal. Headquartered in Cleveland, OH, the company will be added to the S&P MidCap 400 GICS Steel Sub-Industry index.

FEI supplies scientific instruments for nanoscale applications. Headquartered in Hillsboro, OR, the company will be added to the S&P MidCap 400 GICS Electronic Equipment & Instruments Sub-Industry index.

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services.  Headquartered in Cayman Islands, the company will be added to the S&P SmallCap 600 Electronic Manufacturing Services Sub-Industry index.

Albany Molecular Research provides integrated drug discovery, development, and manufacturing services.  Headquartered in Albany, NY, the company will be added to the S&P SmallCap 600 Life Sciences Tools & Services Sub-Industry index.

Following is a summary of the changes:

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average^TM, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:

Dave Guarino 
Communications 
S&P Dow Jones Indices 
[email protected] 
(212) 438-1471

David Blitzer 
Managing Director and Chairman of the Index Committee 
S&P Dow Jones Indices 
[email protected] 
(212) 438-3907

SOURCE S&P Dow Jones Indices

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