Dow Jones Indexes has created a specialty Turkey index that will serve as the underlying for an ETF from Is Investment, the leading investment bank in Turkey.

The Turkey Equal Weighted 15 Index is a price weighted index that tracks the largest 15 stocks traded on the Istanbul Stock Exchange, based on float market capitalization. The Is Investment - Dow Jones Turkey Equal Weighted 15 A-type Exchange Traded Fund is expected to be launched on the Istanbul Stock in the third quarter 2006 pending Is Investment's regulatory approval.

'Licensing the Dow Jones Turkey Equal Weighted 15 Index as underlying for an ETF will give investors an additional opportunity to participate in the performance of a price weighted equity index of the Turkish market which presents a thriving economy among emerging countries,' said Lars Hamich, managing director of STOXX Ltd, the joint venture that is responsible for Dow Jones Indexes' business development in Europe, Asia, Africa and Middle East. 'This ETF will bring the total number of ETFs using indexes by Dow Jones Indexes to four in Turkey and thus makes Dow Jones Indexes the leading index provider in this region.'

The stocks are selected to the Dow Jones Turkey Equal Weighted 15 Index based on float market capitalization, subject to buffers designed to limit turnover. The index is equal weighted and uses price-based weighting factors to establish equal weights on a quarterly basis. The Dow Jones Turkey Equal Weighted 15 Index is reviewed annually in December. Daily historical index values are available back to 31 December 2002 with the base value set at 100. The index is calculated in US Dollars, Euro and Turkish Lira.


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