American Stock Exchange Publishes New Palisades Global Water Index(TM)

The Benchmark Index of the Global Water Industry

Dec 21, 2006, 00:00 ET from American Stock Exchange

    NEW YORK, Dec. 21 /PRNewswire/ -- The American Stock Exchange(R)
 (Amex(R)) announced today that it has begun publishing the Palisades Global
 Water Index(TM) (Ticker Symbol: PIIWI), a new benchmark index of the water
 industry comprised of international water companies traded on major,
 developed stock exchanges worldwide.
     Steve Hoffmann, Director of Palisades Water Index Associates LLC and
 principal architect of the Index, said, "The Palisades Global Water Index
 brings, for the first time, a widely published indicator of the full
 potential of the global water industry. It is the premier measure for
 capturing the unprecedented increase in the economic value of water in the
 21st century. We believe that this value will inevitably be unlocked as the
 global population adjusts to the linkages between human health, economic
 development and resource sustainability."
     The water industry is poised for considerable growth as institutional
 changes and convergent technologies combine to address the global demand
 for clean water. Virtually every country in the world is presented with
 some combination of water quality and quantity issues that will require
 significant expenditures to resolve. The component companies in the index
 are positioned to benefit from the rapidly accelerating water resource
 challenges associated with the demands of growing world economies in
 conjunction with human health and ecological sustainability.
     Mr. Hoffmann added, "The index is the culmination of over 25 years of
 experience with publicly traded water companies and is unique in its
 construction and inclusiveness. The companies in the Index are the
 difference makers in addressing and solving the water resource issues that
 we face on this planet. And it is clear that not only human health, but
 also environmental protection and economic development, are critically
 dependent upon effectively and efficiently managing this increasingly
 valuable resource."
     Scott Ebner, Head of New Product Development at the Amex, said, "The
 Palisades Global Water Index targets companies that are at the forefront of
 a very dynamic and critically important global issue. The Amex enjoys being
 able to continue to work with expert partners to introduce innovative index
 ideas such as the Palisades Global Water Index."
     Elias Azrak, founder of Palisades Water Index Associates LLC, added "We
 are looking forward to making this index the global benchmark for the water
 industry and will be looking forward to having this index listed around the
 world. We have already licensed the index for the launch of an ETF in the
 US and are currently working on securing other licenses around the world".
     The Palisades Global Water Index is a modified equal-dollar weighted
 index comprised of 54 stocks, diversified across 19 economies and 12
 currencies. The index is rebalanced each March, June, September and
 December. The index divisor was initially calculated to yield a benchmark
 value of 1,000.00 at the close of trading December 31, 2003. The index was
 created by, and is a trademark of, Palisades Water Index Associates LLC.
     About the American Stock Exchange
     The American Stock Exchange (Amex) offers trading across a full range
 of equities, options and exchange traded funds (ETFs), including structured
 products and HOLDRS. In addition to its role as a national equities market,
 the Amex is the pioneer of the ETF, responsible for bringing the first
 domestic product to market in 1993. Leading the industry in ETF listings,
 the Amex lists 222 ETFs to date. The Amex is also one of the largest
 options exchanges in the U.S., trading options on broad-based and sector
 indexes as well as domestic and foreign stocks. For more information,
 please visit
     About Palisades Water Index Associates LLC
     Palisades Water Index Associates LLC develops stock indices that track
 the water industry. The Company's indexes are licensed to issuers of
 exchange traded funds or of other financial products such as options,
 mutual funds and structured products. The Company also provides performance
 benchmarking and advisory services to institutional and financial clients.
 Palisades Water Index Associates LLC is also the provider of the Palisades
 Water Index(TM), published by the Amex under the ticker symbol ZWI. With
 the addition of the Palisades Global Water Index(TM), Palisades Water Index
 Associates, LLC provides the two premier benchmark water indexes.

SOURCE American Stock Exchange