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Standard & Poor's Announces Changes In S&P Indexes.


NEW YORK--(BUSINESS WIRE)--Aug. 26, 1998--Standard & Poor's Financial Information Services See Information Systems.  will make the following changes in the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indexes:

-- Provident Companies, Inc. (PVT), an S&P MidCap 400 component,

will replace Bay Networks (BAY) in the S&P 500 Index. Bay Networks is being acquired by S&P 500 component Northern Telecom (NT). Shareholders of Bay Networks are scheduled to vote on the transaction Friday, August 28 and the New York Stock Exchange New York Stock Exchange (NYSE)

World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City.
 is expected to delist Bay Networks prior to the opening of trading on August 31, 1998. Microchip Technology Microchip Technology (NASDAQ: MCHP) is a manufacturer of microcontroller, memory and analog semiconductors, founded in 1989 when  (MCHP MCHP Maryland Children's Health Program
MCHP Microchip Technologies (stock symbol)
MCHP Micro-sized Combined Heat and Power (American Honda Motor Co. & Climate Energy, LLC)
MCHP Maine Community Heritage Project
), an S&P SmallCap 600 component, will replace Provident Cos. in the S&P MidCap 400 Index. MAF MAF

macrophage activating factor.
 Bancorp (MAFB MAFB Minot Air Force Base (North Dakota)
MAFB Malmstrom Air Force Base (Montana)
MAFB Maxwell Air Force Base (Alabama)
MAFB McGuire Air Force Base
) will replace Microchip Technology in the S&P SmallCap 600 Index.

-- Lincare Holdings (LNCR LNCR Lincare Holdings (stock symbol)
LNCR Least Normalized Cost Replacement
), an S&P SmallCap 600 component, will

replace Camco International (CAM) in the S&P MidCap 400 Index. Camco is being acquired by S&P 500 component, Schlumberger Ltd. (SLB SLB Solomon Islands (ISO Country code)
SLB Schlumberger Ltd. (oil field services firm)
SLB Server Load Balancing
SLB Sport Lisboa e Benfica (soccer) 
). Camco shareholders are scheduled to vote on the transaction on Monday, August 31, and the merger is anticipated to close on that date. Anchor Bancorp Wisconsin (ABCW ABCW American Baptist Churches of the West
ABCW Atomic Biological Chemical Warfare
) will replace Lincare Holdings in the S&P SmallCap 600 Index.

-- Reliance Steel & Aluminum (RS) will replace Broderbund Software

(BROD BROD Big Bike Riders of Dagupan (Motorcycle Club in the Philippines) ) in the S&P SmallCap 600 Index. Broderbund Software is being acquired by The Learning Company, Inc. (TLC--not in an S&P Index) for stock. Shareholders for both companies are scheduled to vote on the transaction Monday, August 31, and the merger is anticipated to close on that date. The Learning Company will not be added to an S&P Index at this time.

Provident Cos. provides disability insurance and related products for individual and corporate customers. The company, headquartered in Chattanooga, Tennessee “Chattanooga” redirects here. For other uses, see Chattanooga (disambiguation).
Chattanooga is the fourth-largest city in Tennessee (after Memphis, Nashville, and Knoxville), and the seat of Hamilton CountyGR6
, will be added to the S&P 500 Insurance (Life/Health) industry group.

Microchip Technology develops, manufactures and markets field-programmable 8-bit RISC RISC
 in full Reduced Instruction Set Computing

Computer architecture that uses a limited number of instructions. RISC became popular in microprocessors in the 1980s.
 microcontrollers and related specialty memory products for high-volume embedded control applications. The company, headquartered in Chandler, Arizona, will be added to the S&P MidCap 400 Electronics (Semiconductors) industry group.

MAF Bancorp is the parent company of Mid America Bank, a federally chartered stock savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . The Bank operates a network of 23 retail-banking offices primarily in Chicago and its western suburbs. The company, headquartered in Clarendon Hills, Illinois Clarendon Hills is a village in DuPage County, Illinois, United States. The population was 7,610 at the 2000 census. Geography
Clarendon Hills is located at  (41.796030, -87.955960)GR1.
, will be added to the S&P SmallCap 600 Savings & Loan Companies industry group.

Lincare Holdings is a provider of oxygen and other respiratory therapy respiratory therapy

Medical profession concerned with assisting the respiratory function of individuals who have severe lung disorders. Practices include suctioning to clear secretions from the airway, use of aerosol mists (sometimes medicated) or gases to ease breathing,
 services to patients in the home. The company, headquartered in Clearwater, Florida, will be added to the S&P MidCap 400 Health Care (Specialized Services) industry group.

Anchor Bancorp Wisconsin is a holding company engaged in the savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks.  business through its wholly-owned subsidiary AnchorBank. AnchorBank has 35 full service offices and two loan origination only offices, which are located primarily in southern and western Wisconsin. The company, headquartered in Madison, Wisconsin, will be added to the S&P SmallCap 600 Savings & Loan Companies industry group.

Reliance Steel & Aluminum is one of the largest metals-service- center companies in the United States. The company, headquartered in Los Angeles, will be added to the S&P SmallCap 600 Manufacturing (Specialized) industry group.

Following is a summary of the announced changes:

-0-


                     S&P 500 INDEX -- August 28, 1998

                              ECONOMIC
               COMPANY         SECTOR         INDUSTRY GROUP
 ADDED     Provident Cos.    Financials   Insurance (Life/Health)

DROPPED     Bay Networks     Technology   Computers (Networking)

              S&P MIDCAP 400 INDEX -- August 28, 1998

                              ECONOMIC
               COMPANY         SECTOR         INDUSTRY GROUP
 ADDED        Microchip      Technology         Electronics
             Technology                      (Semiconductors)

DROPPED    Provident Cos.    Financials          Insurance
                                               (Life/Health)

             S&P SMALLCAP 600 INDEX-- August 28, 1998
                              ECONOMIC
               COMPANY         SECTOR         INDUSTRY GROUP
 ADDED       MAF Bancorp     Financials   Savings & Loan Companies

DROPPED       Microchip      Technology         Electronics
             Technology                      (Semiconductors)

              S&P MIDCAP 400 INDEX -- August 31, 1998
                              ECONOMIC
               COMPANY         SECTOR         INDUSTRY GROUP
 ADDED    Lincare Holdings   Health Care    Health Care(Specialized
                                                 Services)

DROPPED     Camco Int'l.       Energy       Oil & Gas(Drilling
                                                Equipment)


             S&P SMALLCAP 600 INDEX -- August 31, 1998
                              ECONOMIC
               COMPANY         SECTOR         INDUSTRY GROUP
 ADDED     Anchor Bancorp    Financials       Savings & Loan
              Wisconsin                          Companies

          Reliance Steel &     Capital         Manufacturing
              Aluminum          Goods          (Specialized)

DROPPED   Lincare Holdings   Health Care          Health
                                             Care(Specialized
                                                 Services)
         Broderbund Software Technology    Computers (Software &
                                                 Services)





Standard & Poor's Financial Information Services, a division of The McGraw-Hill Companies, provides financial, economic, and investment information, as well as analytical services, to the global financial community and commodity trading markets.

Standard & Poor's calculates and maintains the S&P 500, S&P MidCap 400, S&P SmallCap 600, S&P Super Composite 1500 and S&P REIT REIT

See: Real Estate Investment Trust


REIT

See real estate investment trust (REIT).
 Composite Stock Price Indexes, which are widely considered key barometers of stock market activity and performance benchmarks for professional money managers. Approximately $653 billion is currently indexed to the S&P Equity Indexes, including $626 billion indexed to the S&P 500, $20 billion indexed to the S&P MidCap 400, and $7 billion linked to the S&P SmallCap 600. Company additions to and deletions from the S&P equity indexes do not in any way reflect an opinion on the investment merits of the company.

    CONTACT:  Standard & Poor's, New York
               David Blitzer
               V.P. & Chief Economist
               (212) 208-8434
                            or
               Elliott Shurgin
               V.P., Index Services
               (212) 208-8709


COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Article Type:Article
Geographic Code:1USA
Date:Aug 26, 1998
Words:860
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