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Halter USX India Index (AMEX:HXI) to exclusively focus on
Indian Public Companies
Oct. 6, 2005
In response to growing interest among investors in publicly traded
securities with operations in India, the Halter USX India Index (AMEX:HXI)
was launched today as the only index in the world devoted exclusively to
India-focused public companies traded on US stock exchanges. The index was
developed by the Halter Financial Group in collaboration with the American
Stock Exchange (AMEX).The AMEX will calculate and disseminate the value of
the Index through the Network of the Consolidated Tape Association. The
Halter USX India Index is published under the new symbol "HXI," and with
certain data vendors "HXI." In addition, the parties will cooperate on the
trading and development of an exchange traded fund (ETF) and the trading and
marketing of options and exchange-listed structured derivative securities
based on the Index. "We are delighted to continue our partnership with the
AMEX after our joint success on our Halter USX China Index (AMEX:HXC)
product and the Powershares Golden Dragon Halter USX China ETF (AMEX:PGJ)
that was launched based on that Index," commented Tim Halter, Chairman and
CEO of the Halter Financial Group. "India is one of the world's fastest
growing economies, is the 4th largest economy in size, with a workforce of
over 472 million and a domestic consumer base that represents about 15% of
the world's total population. We believe that India offers one of the best
investment opportunities of the 21st century, and we look forward to
creating valuable investment products based on our index and enhancing the
Halter brand." The India growth story is reflected in the results of the
Halter USX India Index for the past 52 weeks. For this period, HXI was up
30.7% compared to Nasdaq and the Dow Jones Industrial Average, which were up
only 13.4% and 4.8% respectively for the same period. "The stocks in the
Halter USX India Index offer investors the opportunity to invest in India
with the safety of the U.S.-regulated securities markets," Halter explained.
"All of the companies in the index are public reporting companies that have
their stocks traded on U.S. national exchanges which are governed by the
U.S. Securities and Exchange Commission." Initially, 17 public companies
will be represented in the Halter USX India Index. To be included in HXI,
companies must meet the following criteria: -- Their primary business is
conducted in India -- Their common stock is traded on U.S. national
exchanges -- Each company's market capitalization is more than $50 million
-- The company is approved by The Halter USX India Index selection committee
which considers additional factors such as trading volume, public interest
and shares available to the investing public The Halter USX India Index is
calculated using a modified market capitalization weighting methodology.
Changes to the index composition and/or the component share weights
typically take effect after the close of trading on the next to last
business day of each calendar quarter. The following 17 public companies
comprise the inaugural Halter USX India Index: -0- *T Cognizant Technology
Solutions (Nasdaq:CTSH) Covansys Corp (Nasdaq:CVNS) DR Reddy's Lab (NYSE:RDY)
HDFC Bank (NYSE:HDB) ICICI Bank (NYSE:IBN) Igate Corp. (Nasdaq:IGTE) Infosys
(Nasdaq:INFY) Kanbay International (Nasdaq:KBAY) Lionbridge Technologies,
Inc. (Nasdaq:LIOX) Mahanagar Telephone Nigam (NYSE:MTE) Rediff.com India
Limited (Nasdaq:REDF) Satyam Computer Services Ltd. (NYSE:SAY) Satyam
Infoway (Nasdaq:SIFY) Syntel Inc (Nasdaq:SYNT) Tata Motors Ltd (NYSE:TTM)
Videsh Sanchar Nigam Ltd (NYSE:VSL) WIPRO LTD (NYSE:WIT) *T
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