Dow Jones Indexes Steps out of CDX.

LONDON & NEW YORK -- Dow Jones Indexes, a leading global index provider, and CDS IndexCo, a consortium of sixteen investment banks, today announced a mutual decision to formally end the collaboration to jointly publish the Dow Jones CDX family of North American and Emerging Market credit derivative indexes by December 31, 2006.

Under the agreement that was signed in March 2005, Dow Jones Indexes has been responsible for branding and licensing the Dow Jones CDX Indexes, and jointly marketing them in cooperation with CDS IndexCo. Additionally, Markit has been responsible for the calculation of the indexes, and for the day-to-day running of CDS IndexCo.

The CDX Indexes were formed from the merger of the North American TRAC-X and iBoxx credit derivative indexes in April 2004. In March 2005, Dow Jones Indexes was appointed branding and licensing agent, in addition to joint marketing agent alongside CDS IndexCo. Since then, the credit derivatives market has grown dramatically and there has been widespread adoption of index-based products1.

Bradford S. Levy, managing director, firmwide eBusiness group at Goldman Sachs and acting chairman of CDS IndexCo, stated: "CDS IndexCo has worked closely with Dow Jones Indexes from the outset, at a time when CDX was a new product in the marketplace, and Dow Jones Indexes has been invaluable in helping build a strong brand around the index family. Now that CDX has become a heavily traded flow product, embraced by an ever-increasing number of institutional investors, we feel able to assume responsibilities for the branding and marketing from Dow Jones Indexes, and further develop the product."

Dow Jones Indexes has agreed to end its involvement in the CDX Indexes, and to transfer these responsibilities to CDS IndexCo. Effective March 31, 2007, the indexes will be renamed CDX. For example, the Dow Jones CDX North American Investment Grade Index (DJ CDX.NA.IG) will simply be renamed the CDX North America Investment Grade Index (CDX.NA.IG).

Markit will continue to act as calculation agent, and will retain responsibility for the administration of CDS IndexCo. Markit will take on the additional responsibility of licensing CDX Indexes. The transfer of responsibilities will not affect trading or index composition in any way.

Michael A. Petronella, president of Dow Jones Indexes, said: "We are very proud of the role we have played in the creation of a single family of credit derivative indexes, and of the contribution that Dow Jones CDX Indexes in concert with CDS IndexCo has made to the liquidity and growth of the credit derivatives market."

The CDX family of credit derivative indexes are composed of corporate and sovereign entities domiciled in North America and the Emerging Markets, and include: Dow Jones CDX.NA.IG (Investment Grade), Dow Jones CDX.NA.IG.HVOL (High Volatility), Dow Jones CDX.NA.HY (High Yield), Dow Jones CDX.NA.HY.BB (High Yield, BB), Dow Jones CDX.NA.HY.B (High Yield, B), Dow Jones CDX.NA.HY Notes (High Yield Notes) and Dow Jones CDX.EM (Emerging Markets).

About CDS IndexCo

CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the ABX, CDX and CMBX indexes. 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 Dow Jones Indexes

Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes, and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.

In addition to Dow Jones Indexes, Dow Jones & Company (NYSE:DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva and with Hearst of SmartMoney. Dow Jones also provides news content to CNBC and radio stations in the U.S.

1 According to the British Bankers' Association (BBA) Credit Derivatives Report 2006, the market share of index trading has grown from 9% in 2004 to 30.1% in 2006.