Vodafone Airtouch/Mannesmann Merger - FTSE International and Deutsche Borse to Co-operate on changes to FTSE 100 and DAX 30 indices.

Business Editors

NEW YORK &FRANKFURT, Germany--(BUSINESS WIRE)--Feb. 8, 2000

FTSE International and Deutsche Borse have agreed to co-ordinate the removal of Mannesmann from the DAX 30 index and the insertion of Vodafone Mannesmann in the FTSE 100 and the other relevant FTSE indices. The intention is that, in order to facilitate an orderly market, the constituent changes will occur simultaneously.

Subject to Vodafone Airtouch announcing that their offer for Mannesmann is unconditional, Deutsche Borse intends to completely remove Mannesmann from the DAX 30 index. In keeping with its previous announcement of 21 January, FTSE International intends to increase the weighting of Vodafone in the FTSE 100 and the other relevant FTSE indices by the level of acceptances Vodafone announces it has received for its offer (i.e. the percentage of Mannesmann shares tendered for the offer). If Vodafone Airtouch announces that it has obtained further shares in Mannesmann, the weighting of Vodafone Airtouch will be adjusted accordingly.

These constituent changes will both occur 2 business days after Vodafone Airtouch announces that its offer is unconditional. For example, if Vodafone announces that their offer has gone unconditional before the start of trading on the of Thursday 10th February 2000, both FTSE International and Deutsche Borse will make the constituent changes to their indices before the start of business on Monday 14th February 2000.

This is the first time two major index calculators have co-operated to this degree and FTSE International and Deutsche Borse believe that their actions will benefit investors and ensure an orderly market.

Background to Deutsche Borse

Deutsche Borse is one of the leading international providers of information products for the bond and equity markets. Deutsche Borse calculates and distributes benchmark indexes such as the German blue chip index DAX for the equity markets and the European BOX index family for the bond market. Deutsche Borse is together with Dow Jones, SWX, and Paris Bourse a partner in STOXX, a leading provider of European equity indexes.

As European Exchange organization Deutsche Borse it is operating the Frankfurt Stock Exchange and Europe's most successful growth market, the Neuer Markt. As joint derivatives market for financial derivatives, Deutsche Borse and SWX Swiss Exchange, operate Eurex, the world's largest derivatives exchange. For more information, visit us at our website at www.exchange.de.

Background to FTSE International

FTSE International is one of the world's leading experts in the creation and management of equity indices and is jointly owned by the London Stock Exchange and the Financial Times. With offices in London, New York and Paris, FTSE International services clients in 77 countries worldwide. It manages and develops globally recognised indices ranging from the FTSE World Index to the real time FTSE Eurotop series and the FTSE 100. The company has collaborative arrangements with the London, Amsterdam, Brussels, Norex, Athens, Luxembourg and Madrid stock exchanges, as well as with Nikkei of Japan (Nihon Keizai Shimbun, Inc). For more information, visit our website at www.ftse.com.