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WILSHIRE ASSOCIATES, PSE AND CBOT LAUNCH SMALL CAP STOCK INDEX

 WILSHIRE ASSOCIATES, PSE AND CBOT LAUNCH SMALL CAP STOCK INDEX
 LOS ANGELES, July 21 /PRNewswire/ -- Wilshire Associates Inc., the Pacific Stock Exchange (PSE) and the Chicago Board of Trade (CBOT) today announced the first stock index deliberately developed as a trading instrument to capture the performance profile of small capitalization stocks.
 The Wilshire Small Cap Index is comprised of 250 stocks and is constructed for maximum liquidity. It has extremely high correlation with existing small cap indexes, including the Wilshire Next 1750, the Russell 2000 and NASDAQ Composite indexes.
 The PSE has filed with the Securities and Exchange Commission to trade options on the new index. The CBOT has filed with the Commodity Futures Trading Commission to trade futures and futures- options on the index. Trading may begin within the fourth quarter of 1992.
 "We came up with a way of capturing the attractive benefits small capitalization stocks offer while minimizing problems commonly associated with small cap investing," said Thomas D. Stevens, Wilshire's chief investment officer. "The Wilshire Small Cap Index will be a valuable tool for institutional investors, and individual investors will not need large amounts of capital to participate in the small cap arena."
 The Wilshire Small Cap Index is derived from the Wilshire Next 1750 and is weighted by capitalization. Its component stocks were selected according to liquidity, industry sector and market capitalization parameters.
 PSE Chairman and Chief Executive Officer Leopold Korins said his staff had first approached Wilshire about developing the new index. "We recognized the need for a trading instrument providing investment and hedging opportunities for this market segment," Korins said. "Wilshire's expertise and unique capabilities in index construction and technology made them our first choice as a partner on this product."
 CBOT Chairman William F. O'Connor said, "As the world's leading source for risk-management services, the CBOT is eager to develop futures and futures-options on the Wilshire Small Cap Index. Small cap indexation carries the potential to become a dynamic growth sector in today's marketplace. The Wilshire Index, complemented by the PSE's equity options and the CBOT's futures and futures-options contracts, will provide many new opportunities for investors around the globe to participate in -- and hedge their exposure to -- the movements and volatility of this very important market."
 Wilshire Associates Inc. is a leading provider of analytical, consulting and asset management services to investment and retirement fund managers. The firm has developed a number of indexes, including the broad-based Wilshire 5000, Wilshire Top 750, Wilshire Next 1750, Wilshire 2500 and Wilshire 4500. It is headquartered in Santa Monica, Calif.
 The Pacific Stock Exchange is the third largest stock options exchange in the world. In addition to its San Francisco options floor, it operates equities trading floors in both San Francisco and Los Angeles. It is the third most active equities exchange in the country.
 Organized in 1848, the Chicago Board of Trade is the world's oldest and largest futures and futures-options exchange. An industry leader in innovation and market development, the CBOT -- featuring agricultural, financial and stock index contracts -- is a premier center for risk management and price discovery for investors worldwide. The exchange's U.S. Treasury bond and Treasury note futures and options are listed among the most actively traded contracts in the world.
 -0- 7/21/92
 /CONTACT: Michael Napoli of Wilshire Associates, 310-451-3051; Michael B. O'Connell of the Chicago Board of Trade, 312-435-7174; Dale Carlson of the Pacific Stock Exchange, 415-393-4198; or Susan Klein of Pondel Parsons & Wilkinson, 310-207-9300/ CO: Wilshire Associates Inc.; Pacific Stock Exchange; Chicago Board
 of Trade ST: California IN: SU:


KJ-BP -- LA007 -- 1133 07/21/92 09:05 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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