FT/S&P-Actuaries World Indices Quarterly Changes

Business Wire, June 29, 1998

FAST ENTRY RULE

In order to ensure the timely addition of significant companies into the World Index, without incurring undue turnover, the World Index Policy Committee approved amending Ground Rule 4.1 (iv) effective immediately. The rule now reads:

"A new, eligible security becomes available whose capitalisation taking into account all relevant factors including application of the investibility screens, is greater than twice the Large Company Cut-Off, index adjusted from the last calculated value, for the relevant market".

EUROPEAN MONETARY UNION (E.M.U.)

The World Index Policy Committee has discussed E.M.U. A definitive statement will be issued at a later date on how the indices will be impacted at the technical level following the introduction of the Euro, on 1st January 1999.

Notes for Editors:

The FT/S&P Actuaries World Indices are jointly compiled by FTSE International, Goldman Sachs & Co and Standard & Poor's in conjunction with the Institute of Actuaries and the Faculty of Actuaries. All enquiries should be made to Steven Vale at FTSE International in London on 44 (0)171 448 1821, Barbara Mueller, Goldman Sachs & Co in New York on 1 (212) 902 6777 or Elliott Shurgin, Standard & Poor's in New York on 1 (212) 208 8709.

   CONTACT: FTSE International
             Steven Vale
             London
             0171-448-1821
                 or
             Goldman, Sachs & Co.
             Barbara Mueller
             212-902-6777
                 or




             Standard & Poor's
             Elliott Shurgin
             212-208-8709