FTSE4GOOD Semi-Annual Review

19 March 2003

The FTSE4Good Advisory Committee has approved the following semi-annual changes to the FTSE4Good UK 50 Index, FTSE4Good UK Index, FTSE4Good Europe 50 Index, FTSE4Good Europe Index, FTSE4Good US 100 Index and FTSE4Good Global 100 Index, effective after the close of business on Friday, 21 March 2003 (i.e. on Monday, 24 March 2003).

Please note that exclusions from the FTSE4Good UK 50 Index and FTSE4Good Europe 50 Index will remain as constituents in their respective benchmark indices.

FTSE4Good UK 50 Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	RANK	INV. WEIGHT (%)	REASON
Smith & Nephew	0922320	45	100	Re-balancing
United Utilities	0646233	47	100	Re-balancing

Please note that the FTSE4Good UK 50 index is capped on implementation of the above changes, thus the above free float weights are subject to this capping. The exact weights will be available from FTSE after close of business on Friday, 21 March 2003.

For exclusion:

COMPANY	SEDOL	RANK	INV. WEIGHT %	REASON
Reuters Group	0236913	65	100	*
Cable & Wireless	0162557	78	100	*

* Ranks below position 60

The FTSE4Good UK 50 Index Reserve List will be:

With immediate effect, the following reserve list will be used in the event that one or more constituents are deleted during the period up to the next semi-annual review:

COMPANY	SEDOL	INV. WEIGHT %
Old Mutual	0738992	100
Safeway	0049241	100
Northern Rock	0145279	100
P & O Princess Cruises	0963590	100
Man Group	0294405	100
Severn Trent	0054632	100
Hilton Group	0500254	100
Next	3208986	100
British Land Co	0136701	100
Bradford & Bingley	0222815	100

FTSE4Good UK Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	INV. WEIGHT (%)	REASON
Exel	0448688	100	Newly eligible
Burberry Group	3174300	30	Newly eligible
Cairn Energy	3239931	100	Newly eligible
Minerva	0595368	100	Newly eligible
Paragon Group of Companies	0614036	100	Newly eligible
Gleeson (M.J.) Group	0372107	100	Newly eligible
Express Dairies	0257765	100	Newly eligible
Savills	0777713	100	Newly eligible
Antisoma	0945565	75	Newly eligible
Hitachi Credit	0059035	40	Newly eligible
Xenova Group	0985000	100	Newly eligible
PSD Group	0705394	100	Newly eligible
nCipher	3247547	100	Newly eligible

For exclusion:

COMPANY	SEDOL	INV. WEIGHT (%)	REASON
St.Ives	0768900	100	Ineligible
Royalblue Group	0759023	100	Ineligible
Goldshield Group	0289382	100	Ineligible

FTSE4Good Europe 50 Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	COUNTRY	RANK	INV. WEIGHT (%)	REASON
Ente Nazionale Indrocarburi (ENI)	7145056	Italy	9	75	*
ENEL	7144569	Italy	23	40	*
Banco Santander Central Hispano	5705946	Spain	28	100	*

* Ranks above position 40

For exclusion:

COMPANY	SEDOL	COUNTRY	RANK	INV. WEIGHT %	REASON
Prudential	0709954	UK	73	100	*
Bayer AG	5069211	Germany	80	100	*
Abbey National	0004455	UK	87	100	*

*Ranks below position 60

Please note that the FTSE4Good Europe 50 index is capped on implementation of the above changes, thus the above free float weights are subject to this capping. The exact weights will be available from FTSE after close of business on Friday, 21 March 2003.

The FTSE4Good EUROPE 50 Index Reserve List will be:

COMPANY	SEDOL	COUNTRY	INV. WEIGHT %
Credit Lyonnais	5713477	France	75
National Grid Transco	3122387	UK	100
Swisscom	5533976	Switzerland	40
British Sky Broadcasting Group	0141192	UK	75
Royal KPN	5956078	Netherlands	75
Heineken NV	7108048	Netherlands	50
BG Group	0876289	UK	100
Nordea AB	5380031	Sweden	100
BHP Billiton	0056650	UK	100
Standard Chartered	0408284	UK	100

FTSE4Good Europe Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	COUNTRY	INV. WEIGHT %	REASON
Ente Nazionale Indrocarburi (ENI)	7145056	ITALY	75	Newly eligible
ENEL	7144569	ITALY	40	Newly eligible
Banco Santander central Hispano	5705946	SPAIN	100	Newly eligible
Repsol-YPF	5669354	SPAIN	100	Newly eligible
Statoil	7133608	NORWAY	20	Newly eligible
TeliaSonera	5978384	SWEDEN	30	Newly eligible
Inditex	7111314	SPAIN	40	Newly eligible
Lafarge	4502706	FRANCE	100	Newly eligible
Seat-Pagine Gialle	5843642	ITALY	50	Newly eligible
Banca Monte Dei Paschi di Siena	7128541	ITALY	40	Newly eligible
Exel	0448688	UK	100	Newly eligible
Continental	4598589	GERMANY	100	Newly eligible
Skanska B	7142091	SWEDEN	100	Newly eligible
DCC	4189477	IRELAND	100	Newly eligible

For exclusion:

COMPANY	SEDOL	COUNTRY	INV. WEIGHT %	REASON
Elan Corporation	4305507	IRELAND	100	Ineligible
Hafslund ASA B	5067561	NORWAY	40	Ineligible
Fred Olsen Energy	5344101	NORWAY	40	Exclusion from benchmark universe

FTSE4Good US 100 Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	RANK	INV. WEIGHT %	REASON
Comcast A	2044545		100	**
3M Company	2595708	19	100	*
ConocoPhillips	2685717	27	100	*
Yahoo	2986539	73	75	*
Intuit Inc	2459020	88	100	*
Best Buy Company	2094670	92	100	Re-balancing
Mattel	2572303	93	100	Re-balancing
Coca-Cola Enterprises	2206969	95	75	Re-balancing

* Ranks above position 40

** Secondary line Comcast Special A (Sedol - 2089687) is a current constituent.

Please note that the FTSE4Good US 100 index is capped on implementation of the above changes, thus the above free float weights are subject to this capping. The exact weights will be available from FTSE after close of business on Friday, 21 March 2003.

For exclusion:

COMPANY	SEDOL	RANK	INV. WEIGHT %	REASON
Suntrust Banks	2860990		100	Ineligible
Tenet Healthcare	2626879		100	Ineligible
Northern Trust	2648668	113	100	*
Sears Roebuck	2787312	119	100	*
Cigna Corp	2196479	129	100	*
May Dept Stores	2573890	135	100	*
Micron Technology	2588184	145	100	*

*Ranks below position 110

The FTSE4Good US 100 Index Reserve List will be:

With immediate effect, the following reserve list will be used in the event that one or more constituents are deleted during the period up to the next semi-annual review:

COMPANY	SEDOL	INV. WEIGHT %
Becton Dickinson	2087807	100
Eastman Kodak	2300601	100
Franklin Resources	2350684	75
John Hancock Financial Services	2541314	100
Lexmark International Inc	2511908	100
Nike Inc CL B	2640147	75
Xilinx	2985677	100
Computer Associates	2214832	75
Pitney Bowes	2690506	100
Norfolk Sthn Corp	2641894	100

FTSE4Good US Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	INV. WEIGHT %	REASON
Comcast A	2044545	100	**
3M Company	2595708	100	Newly eligible
ConocoPhillips	2685717	100	Newly eligible

** Secondary line Comcast Special A (Sedol - 2089687) is a current constituent.

For exclusion:

COMPANY	SEDOL	RANK	INV. WEIGHT %	REASON
Suntrust Banks	2860990		100	Ineligible
Tenet Healthcare	2626879		1000	Ineligible

FTSE4Good Global 100 Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	COUNTRY	RANK	INV. WEIGHT %	REASON
Comcast A	2044545	USA		100	**
Ente Nazionale Indrocarburi (ENI)	7145056	Italy	27	75	*
3M Company	2595708	USA	35	100	*
ENEL	7144569	Italy	51	40	*
ConocoPhillips	2685717	USA	55	100	*
Banco Santander Central Hispano	5705946	Spain	68	100	*
France Telecom	5176177	France	78	30	*
Uni Credito Italiano	4232445	Italy	87	75	*
Ebay	2293819	USA	88	75	*

*Ranks above position 90

** The secondary line (Comcast Special A (Sedol - 2089687)) is a current constituent.

Please note that the FTSE4Good Global 100 index is capped on implementation of the above changes, thus the above free float weights are subject to this capping. The exact weights will be available from FTSE after close of business on Friday, 21 March 2003.

For exclusion:

COMPANY	SEDOL	COUNTRY	RANK	INV. WEIGHT %	REASON
Allianz AG	5231485	Germany	111	75	*
MBNA Corp	2547055	USA	117	100	*
Swiss Reinsurance	7189816	Switzerland	121	100	*
Baxter Intl	2085102	USA	122	100	*
Bank of New York	2076021	USA	128	100	*
Muenchener Rueckversicherungs Reg	5294121	Germany	135	75	*
Aegon NV	5927375	Netherlands	139	100	*
AT&T	2064888	USA	145	100	*

* Ranks below position 110

The FTSE4Good Global 100 Index Reserve List will be:

With immediate effect, the following reserve list will be used in the event that one or more constituents are deleted during the period up to the next semi-annual review:

COMPANY	SEDOL	COUNTRY	INV. WEIGHT %
Liberty Media A	2780816	USA	100
Hang Seng Bank	6408374	Hong Kong	40
BHP Billiton	6144690	Australia	100
HCA Inc	2212193	USA	100
LVMH	4061412	France	75
Credit Lyonnais	5713477	France	75
National Grid Transco	3122387	UK	100
Swisscom	5533976	Switzerland	40
Gannett	2360304	USA	100
British Sky Broadcasting	0141192	UK	75

FTSE4Good Global Index - Changes effective after close of business on Friday, 21 March 2003:

For inclusion:

COMPANY	SEDOL	COUNTRY	INV. WEIGHT %	REASON
Comcast A	2044545	USA	100	**
Ente Nazionale Indrocarburi (ENI)	7145056	Italy	75	Newly eligible
3M Company	2595708	USA	100	Newly eligible
ENEL	7144569	Italy	40	Newly eligible
ConocoPhillips	2685717	USA	100	Newly eligible
Banco santander Central Hispano	5705946	Spain	100	Newly eligible
Repsol-YPF	5669354	Spain	100	Newly eligible
Statoil	7133608	Norway	20	Newly eligible
TeliaSonera	5978384	Sweden	30	Newly eligible
Inditex	7111314	Spain	40	Newly eligible
Shin-Etsu Chemical	6804585	Japan	75	Newly eligible
Tokyo Gas	6895448	Japan	75	Newly eligible
Lafarge	4502706	France	100	Newly eligible
Seat-Pagine Gialle	5843642	Italy	50	Newly eligible
Kirin Brewery	6493745	Japan	75	Newly eligible
Singapore Airlines	6811734	Singapore	50	Newly eligible
Nikko Cordial	6640284	Japan	75	Newly eligible
Banca Monte Dei Paschi Di Siena	7128541	Italy	40	Newly eligible
Nippon Yusen	6643960	Japan	75	Newly eligible
Inco	2460367	Canada	100	Newly eligible
Alumina	6954985	Australia	100	Newly eligible
PCCW	6574071	Hong Kong	50	Newly eligible
QBE Insurance Group	6715740	Australia	100	Newly eligible
Konica	6496700	Japan	75	Newly eligible
Exel	0448688	UK	100	Newly eligible
Continental	4598589	Germany	100	Newly eligible
Noranda Inc	2641322	Canada	75	Newly eligible
Skanska B	7142091	Sweden	100	Newly eligible
BHP Steel	6533232	Australia	100	Newly eligible
Kawasaki Kisen	6484686	Japan	75	Newly eligible
Ballard Power	2072717	Canada	75	Newly eligible
Cosmo Oil	6226338	Japan	75	Newly eligible
DCC	4189477	Ireland	100	Newly eligible
Nishimatsu Construction	6640983	Japan	75	Newly eligible
Ezaki Glico	6327703	Japan	75	Newly eligible
Norske Skog Canada	2342733	Canada	75	Newly eligible
Westpac Trust Investments	6180285	New Zealand	100	Newly eligible

** The secondary line (Comcast Special A (Sedol - 2089687)) is a current constituent.

For Exclusion:

COMPANY	SEDOL	COUNTRY	INV. WEIGHT %	REASON
Suntrust Banks	2860990	USA	100	Ineligible
Tenet Healthcare	2626879	USA	100	Ineligible
Elan Corporation	4305507	Ireland	100	Ineligible
Hafslund ASA B	5067561	Norway	40	Ineligible
Fred Olsen Energy	5344101	Norway	40	Exclusion from benchmark universe

INVESTIBILITY WEIGHTING CHANGE:

COMPANY	COUNTRY	CURRENT INV. WEIGHT %	NEW INV. WEIGHT %	SEDOL
News Corp Pref	Australia	50	75	6620758

For index related enquiries or further information about FTSE please contact:

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