New faces on the Nasdaq 100: Intersil, Level 3, and Marvell are in; ADC, Brocade, Ciena, and Ericsson are out

December 12, 2003

2 Min Read

NEW YORK -- The Nasdaq Stock Market, Inc. ("NASDAQ;" OTCBB:NDAQ) announced today the annual re-ranking of the NASDAQ-100 Index®, effective with the market open on Monday, December 22, 2003."The NASDAQ-100 Index is the basis for some 400 financial products worldwide, and continues to be one of the world's most widely followed indicators of financial market activity," said John L. Jacobs, chief executive officer of NASDAQ Financial Products Services, Inc. "The index includes companies which are recognized leaders across a wide variety of business sectors."The following eight issues will be added to the NASDAQ-100 Index: Marvell Technology Group, Inc. (NASDAQ:MRVL), Garmin Ltd. (NASDAQ:GRMN), Career Education Corporation (NASDAQ:CECO), Lam Research Corporation (NASDAQ:LRCX), Level 3 Communications, Inc. (NASDAQ:LVLT), Intersil Corporation (NASDAQ:ISIL), ATI Technologies Inc. (NASDAQ:ATYT) and Research in Motion Limited (NASDAQ:RIMM).The NASDAQ-100 Index is composed of the 100 largest non-financial stocks on The NASDAQ Stock Market and dates to January 1985 when it was launched along with the NASDAQ Financial-100 Index, which is comprised of the 100 largest financial stocks on NASDAQ. Generally, the NASDAQ-100 is re-ranked each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.Shares of each company in the Index are included in the NASDAQ-100 Index Tracking Stock (QQQ), which is an exchange-traded fund (ETF) that trades like a stock. Based on the year-to-date average daily trading volume as of November 30, 2003, it is the world's most actively traded ETF and the most actively traded listed security in the U.S. QQQ represents ownership in the Nasdaq-100 TrustSM. The Trust holds a portfolio of equity securities that comprise the NASDAQ-100 Index and aims to provide investment results that, before expenses, generally correspond to the price and yield performance of the NASDAQ-100 Index. Since its inception in March 1999, the Trust's total assets have grown to over $21 billion.For more information about the NASDAQ-100 Index, including eligibility criteria, visit www.nasdaq-100.com.As a result of the re-ranking of the NASDAQ-100 Index, the following eight companies will be removed: ADC Telecommunications, Inc. (NASDAQ:ADCT), Brocade Communications Systems, Inc. (NASDAQ:BRCD), CIENA Corporation (NASDAQ: CIEN), LM Ericsson Telephone Company (NASDAQ: ERICY), Human Genome Sciences, Inc. (NASDAQ:HGSI), ICOS Corporation (NASDAQ: ICOS), Monster Worldwide Inc. (NASDAQ:MNST) and, RF Micro Devices, Inc. (NASDAQ:RFMD).Companies that are removed from the Index may rejoin it at a later time. This year, Lam Research Corporation (NASDAQ:LRCX) and Level 3 Communications, Inc. (NASDAQ:LVLT) are again becoming components of the Index.Nasdaq

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