Exponent Set to Join Russell 3000 Index
MENLO PARK, Calif., June 24, 2004 - Exponent, Inc. (Nasdaq: EXPO) today announced it will join the Russell 3000 Index when the broad-market index is reconstituted on June 25, 2004, according to a preliminary list of additions issued by Russell Investment Group. Membership in the Russell 3000 means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index.
“Exponent is pleased to be named to the Russell 3000, as this increases our visibility within the investment community," said Michael R. Gaulke, president and CEO of Exponent. “We believe that this provides us with the opportunity to expand our shareholder base as we continue to capitalize on our strategic initiatives and grow our Company.”
Membership in Russell's 21 U.S. equity indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. More than $360 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
About Exponent
Exponent is an engineering and scientific consulting firm providing solutions to complex problems. Exponent’s multidisciplinary organization of scientists, physicians, engineers, and business consultants brings together more than 70 technical disciplines to address complicated issues facing industry and government today. The firm’s consultants analyze failures and accidents to determine their causes and provide answers to help prevent such problems. In addition, Exponent evaluates human health and environmental concerns to find cost-effective solutions.
Exponent may be reached at (888) 656-EXPO, info@exponent.com, or www.exponent.com.
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