S&P Indices Announces Changes to U.S. Indices

NEW YORK, Sept. 26, 2011 /PRNewswire/ -- S&P Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 Indices:

• S&P SmallCap 600 constituent Home Properties Inc. (NYSE: HME) will replace BJ's Wholesale Club Inc. (NYSE: BJ) in the S&P MidCap 400, and Resources Connection Inc. (NASD: RECN) will replace Home Properties in the S&P SmallCap 600 index after the close of trading on Friday, September 30. BJ's Wholesale Club is being acquired by Leonard Green & Partners L.P. and CVC Capital Partners in a deal expected to be completed on or about that date pending final conditions.

• Fortune Brands Home & Security Inc. (NYSE: FBHSwi) will replace Overseas Shipholding Group Inc. (NYSE: OSG) in the S&P MidCap 400 index, and Overseas Shipholding Group will replace LCA-Vision Inc. (NASD: LCAV) in the S&P SmallCap 600 index after the close of trading on Monday, October 3. S&P 500 constituent Fortune Brands Inc. (NYSE: FO) is spinning off Fortune Brands Home & Security to shareholders in a transaction expected to be completed on or about that date pending final approvals. Fortune Brands, which is changing its name to Beam Inc. after the spin-off, will remain in the S&P 500 index. Overseas Shipholding Group's current market capitalization makes it more representative of the small cap market space. LCA-Vision has the lowest market capitalization in the S&P SmallCap 600 index.

• Measurement Specialties Inc. (NASD: MEAS) will replace MedCath Corp. (NASD: MDTH) in the S&P SmallCap 600 index after the close of trading on Monday, October 3. MedCath is completing the sale of substantially all of its remaining assets and has announced its intention to dissolve the company.

S&P Indices will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.  

Home Properties is a real estate investment trust (REIT) that owns, operates, develops, acquires, and rehabilitates apartment communities. Headquartered in Rochester, NY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Residential REITs Sub-Industry index.

Resources Connection is a multinational professional services firm. Headquartered in Irvine, CA, the company will be added to the S&P SmallCap 600 GICS Research & Consulting Services Sub-Industry index.

Fortune Brands Home & Security engages in the manufacture and sale of home and security products. Headquartered in Deerfield, IL, the company will be added to the S&P MidCap 400 GICS Building Products Sub-Industry index.

Overseas Shipholding Group is a tanker company primarily engaged in the ocean transportation of crude oil and petroleum products. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Storage & Transportation Sub-Industry index.

Measurement Specialties designs, develops, and manufactures sensors and sensor-based systems.  Headquartered in Hampton, VA, the company will be added to the S&P SmallCap 600 GICS Electronic Manufacturing Services Sub-Industry index.

Following is a summary of the changes:

For more information about S&P Indices, please visit www.standardandpoors.com/indices.

About S&P Indices

S&P Indices, a leading brand of the McGraw-Hill Companies (NYSE: MHP), maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit: www.standardandpoors.com/indices.

SOURCE Standard & Poor's