Dow Jones Indexes Reinstates Malaysia.

PRINCETON, N.J.--(BUSINESS WIRE)--Nov. 16, 1999--

Dow Jones Indexes today announced that, effective November 22, Malaysia will be reinstated into the following Dow Jones Global Indexes: the Dow Jones World Index, the Dow Jones Asia/Pacific Index, the Dow Jones Asia/Pacific (South Asia) Index and the Dow Jones Asia/Pacific ex-Japan Index. Early next year, Malaysia will be reincorporated into the Dow Jones Islamic Market Index.

Malaysia was removed from the Dow Jones Global Indexes in October of 1998 after the country imposed capital controls banning trading of its currency outside its borders, fixing the exchange rate at 3.80 MYR to 1 U.S. dollar and locking in foreign investment for a year. These measures essentially eliminated Malaysia as a viable option for foreign investors, thus disqualifying the country from the Dow Jones Global Indexes.

Although Malaysia's currency trading ban remains in effect today, the government has eased restrictive measures on foreign investment in an effort to improve the environment for international capital flows. As of September 1, 1999, investments in Malaysian stocks made before Feb. 15 could be withdrawn from the country without incurring the 10% exit levy that had been imposed on the original investment. This evidence of capital controls reductions, together with growing optimism about Malaysia's economic situation, prompted Dow Jones Indexes to reconsider the country's status.

"Obviously, the Malaysia investment framework is still less favorable than before Sept. 1, 1998, when it imposed sweeping capital controls," said Humphrey Chang, Director of Quality Assurance, Dow Jones Indexes. "Nevertheless, Malaysia now meets the Dow Jones Indexes construction criterion of being open to foreign investors."

Chang stressed that Dow Jones Indexes would not rule out the possibility of again removing Malaysia should the situation deteriorate. "As Malaysia begins to appear more attractive to foreign investors, we believe that reinstating Malaysia into our indexes will help those who wish to participate in the re-emergence of Asia markets," he said. "We will, however, continue to monitor and review the country's capital controls and market conditions to ensure that the country remains open to foreign investors."

Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages, the Dow Jones Global Indexes, the pan-European Dow Jones STOXX Indexes, the Dow Jones-AIG Commodity Index, the Dow Jones Islamic Market Indexes, the Dow Jones Internet Indexes, the Dow Jones Global Titans Index, the Dow Jones Extra Liquid Series and the Dow Jones Sustainability Group Indexes. Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information.

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