Selected Major World Stock Market Indexes¹

2004 range² Year-end Percent

change from

Country and Index High Low close 12/31/2003

Argentina, Merval 1390 840 1375 28

Australia, Sydney All Ordinaries 4057 3275 4053 23

Belgium, Brussels BEL20 2950 2271 2933 31

Brazil, Bovespa 26,196 17,604 26,196 18

Canada, Toronto Composite 9287 8124 9247 12

China, Shanghai A 1864 1322 1330 -15

Denmark, KFX 287 249 287 18

Finland, HEX General 7362 5229 6228 3

France, Paris CAC 40 3844 3485 3821 7

Germany, Frankfurt Xetra DAX 4262 3647 4256 7

Hong Kong, Hang Seng 14,266 10,968 14,230 13

Hungary, Bux 14,775 9465 14,743 57

India, Sensex (BSE-30) 6603 4505 6603 13

Indonesia, Jakarta Composite 1004 668 1000 45

Ireland, ISEQ Overall 6212 4973 6198 26

Italy, S&P/MIB 30,904 26,198 30,903 15

Japan, Nikkei Average 12,164 10,365 11,489 8

Mexico, IPC 13,032 8818 12,918 47

Netherlands, The, AEX 365 311 348 3

Pakistan, KSE-100 6218 4474 6218 39

Philippines, Manila Composite 1852 1388 1823 26

Poland, Wig 26,636 21,299 26,636 28

Russia, RTS 782 518 614 8

Singapore, Straits Times 2066 1700 2066 17

South Africa, Johannesburg All Share 12,676 9748 12,657 22

South Korea, Composite Index 936 720 896 10

Spain, Madrid Stock Exchange 960 804 959 19

Switzerland, SMI 5934 5310 5693 4

Taiwan, Weighted Price 7034 5317 6140 4

Thailand, Bangkok SET 794 582 668 -13

United Kingdom, FTSE 100 4820 4287 4814 8

United States, Dow Jones Industrials 10,855 9750 10,783 3

United States, Nasdaq Composite 2178 1752 2175 9

United States, NYSE Composite 7254 6217 7250 12

United States, Russell 2000 655 517 652 17

United States, S&P 500 1214 1063 1212 9

World, MS Capital International 1171 997 1171 13

● ¹Index numbers are rounded.

● ²Based on daily closing price.

● Sources: Financial Times, Wall Street Journal.