The S&P Emerging Markets Data Base Brochure

The Emerging Markets Data Base

Standard & Poor's Emerging Markets Data Base (EMDB) serves as a vital statistical resource for the international financial community. With information collected since 1975, EMDB was the first database to track emerging stock markets. EMDB has since earned recognition as the worlds premier source for reliable and comprehensive information and statistics on stock markets in developing countries. As of January 2003, EMDB tracked 53 stock markets in Asia, Latin America, Eastern Europe, Africa and the Middle East, providing daily, weekly, monthly, quarterly, and yearly data on more than 2,200 stocks by company, industry, country, region, and more. Using a selected sample of stocks in each market, EMDB calculates indices of stock market performance designed to serve as benchmarks consistent across national boundaries. EMDB is unique in offering these analyses from the perspectives of both local investors and foreign investors.

S&P Emerging Markets Indices:

Just as emerging markets have evolved, so too have the needs of investors in emerging markets. When the first S&P Emerging Markets Indices were calculated in the mid-1980s, most developing countries had major restrictions on foreign portfolio investment. The first series of indices were, therefore, designed to accurately reflect the perspective of local investors. These first S&P Emerging Markets Indices, the S&P/IFCG (Global) indices, do not take into consideration restrictions on foreign ownership that limit the accessibility of certain markets and individual stocks. Their primary use is to gauge and compare local market sizes and price movements. The S&P/IFCG indices have played a vital role in stimulating investment in emerging markets and continue to be the most appropriate investment tool for use by local investors and those interested in broad trends in emerging markets. Since the mid-1980s, barriers to investment have fallen markedly and foreign investment in emerging markets has soared, bringing with it the need for an index that reflects new opportunities for foreign investment. Accordingly, Standard & Poor's also produces the S&P/IFCI (Investable) Index series. S&P/IFCI indices provide a broad, neutral, and historically consistent benchmark for the growing emerging market investment community. Methodologies for calculating the S&P/IFCG and S&P/IFCI indices are similar. The key difference is that investable indices are adjusted to reflect restrictions on foreign investment in emerging markets. The unique attributes of both the S&P/IFCG and S&P/IFCI indicesbreadth, neutrality, practicality, historical consistency, and transparencyserve to establish these indices as the premier benchmarks for international investors. Breadth of Coverage: As of January 2003, the S&P/IFCG and 0S&P/IFCI index series covered 53 and 22 discrete markets, respectively. Indices are calculated on a daily basis for 33 markets in the S&P/IFCG index series and 22 markets in the S&P/IFCI index series. In addition, there are seven S&P/IFCG and S&P/IFCI regional indices, and a composite index for each providing the most accurate representation of the available emerging market universe. Each month, an extended S&P Frontier index is calculated for all 20 smaller markets. In addition, Standard & Poor's calculates sector and industry indices across emerging markets. S&P is also constantly evaluating new markets for coverage as the focus of international investors continues to broaden and as more markets open their doors to foreign investment.
Regions Markets Latin America, Asia, Europe/Mideast/Africa (EMEA), Europe, Eastern Europe, ME & Africa Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela; China, Korea, Philippines, and Taiwan China; India, Indonesia, Malaysia, Pakistan, Sri Lanka, and Thailand; Bahrain, Czech Republic, Egypt, Hungary, Israel, Jordan, Morocco, Nigeria, Oman, Poland, Russia, Saudi Arabia, Slovakia, Turkey, South Africa, and Zimbabwe Bangladesh, Botswana, Bulgaria, Cote dIvoire, Croatia, Ecuador, Estonia, Ghana, Jamaica, Kenya, Latvia, Lebanon, Lithuania, Mauritius, Namibia, Romania, Slovenia, Trinidad & Tobago, Tunisia, and Ukraine

Frontier Markets

Practicality of Stock Inclusion Criteria: To accurately reflect investment opportunities for foreign portfolio investors, S&P/IFCI indices go beyond definitions of legal investability and apply tighter liquidity criteria than the broader S&P/IFCG index series. Assisted by the input of its Index Advisory Panel, S&P has applied minimum market capitalization and liquidity hurdles for the inclusion of individual stocks. Simultaneously, S&P has retained a rule-based exception policy to insure the inclusion of a sufficient number of stocks in individual market indices without imposing float or artificial industry-composition models on markets.

Historically Consistent: S&P Emerging Markets indices build on fundamental information from over 2,200 stocks in the Emerging Markets Data Base compiled since 1975. They also build on the experience of decades of institutional involvement and leadership in international environments. The result is a set of indices that accurately and consistently reflect the dynamic history of global and investable emerging stock markets.

Transparency: For performance measurement, benchmarking, asset allocation, and passive fund management, the S&P/IFCI indices provide an ideal benchmark within the financial industry. Together with the S&P/IFCG indices, S&P Emerging Markets indices provide a complementary set of comparable measures of stock market performance which are neutral and consistent across time and borders, transparent, encompass a broad range of markets, and use practical and accurate stock inclusion criteria. A detailed description of the S&P Emerging Markets index methodology is available in The S&P Emerging Markets Indices: Methodology, Definitions, and Practices, available at S&Ps website: (www.standardandpoors.com)

Computer Products - EMDB

S&P's Emerging Markets Data Base product line is available in a variety of formats, from CD, email or FTPaccessible computerized products, to next-day or first-class delivery of publications. Included in our computer product line are histories and regular updates of daily, weekly and monthly stock and index series, and a monthly market series. This data is accessible through EMDB 2000, a PC-based data management and report-writing system that makes EMDB data files easy to use and to update. For information on subscription rates, or for additional information on the listed products, please contact S&P Emerging Markets Data Base at (212) 438-2046, visit our website at www.standardandpoors.com, or use the order form at the end of this brochure. Data Availability: S&P Emerging Markets data is available at three levels of frequency: daily, weekly and monthly. Within each frequency level, there exist three data types: market, index and stock. Table 1 on the next page illustrates which data components are part of each subscription combination. Data is available as a history-only purchase or as an annual subscription of updates with or without historical data. Subscribers to any of the stock data combinations also receive a copy of all EMDB publications. Subscribers to the historical data series receive the latest edition of the Emerging Stock Markets Factbook, the worlds premier statistical handbook on emerging stock markets.

Table 1. -- EMDB Data Availability

Daily Identifiers Name S&P code Dates added/deleted Industry/SIC SEDOL Stock class Stock type Ticker symbol Trading data Keydate/last trading Number of days traded Turnover ratio Value traded Volume traded Prices Closing share price High/low share price Capital adjustment rate Price indices (LC and US$) Total return indices (LC and US$) Local market index Dividends Dividend paid/yield Ex-date Size Market capitalization Number of listings Shares outstanding New issues Closing date Shares created Value of new equity issues Rights issues Ex-date Shares created Subscription price Splits Shares created Ex-date Valuations Price/book value Price/cash flow Price/earnings Currency Exchange rate to US$ Currency scale Investability Investable weight factor Financial data Book value Depreciation Earnings Stock Series Weekly Monthly Daily Index Series Weekly Monthly Market Series Monthly Annual

Publications- EMDB
Included in our publications line are monthly and annual updates on emerging stock markets and The S&P Emerging Markets Indices: Methodology, Definitions, and Practices. For information on subscription rates, or for additional information on the listed products, please contact S&P Emerging Markets Data Base at (212) 438-2046 or use the order form at the end of this brochure.

Standard & Poor's Emerging Stock Markets Review:

Indices at country and stock level on a monthly basis.

Covers S&P/IFCG and S&P/IFCI

Data included: Market weights in S&P Emerging Markets Indices Largest 100 stocks in the composite indices, listing market caps, weights, and foreign investable weight factors Stock weights in the composite indices by country, listing market caps and weights in market, region, and composite, and foreign investable weight factors Profiles of the S&P Emerging Markets Industry Indices Market performance overview Market weights in S&P Emerging Market analyses Markets Indices Index performance Market Profiles, by month Overviews Comparative valuations S&P/IFCG Price Indices Market capitalization by month S&P/IFCG TR Indices Monthly value traded S&P/IFCI Price Indices Local stock market price indices S&P/IFCI TR Indices Exchange rates per US$

Standard & Poor's Emerging Stock Markets Factbook

Considered the foremost annual publication on stock markets in the developing world, this single volume combines various time series of fundamental market data on the primary emerging markets. Each edition is divided into several sections including: an overview providing commentaries with summary tables and charts; an extensive section of indices; market profiles on more than 50 emerging markets; and a global directory of emerging stock markets. Data included: Global Stock Markets S&P Emerging Market Indices Market profiles: Appendixes: Investor information on taxation and regulation Market directory

Standard & Poor's Emerging Markets Summary

Coverage World's first emerging market data base with data since 1975 Indices and detailed market data for over 2,200 stocks, 53 markets, and 7 regions Markets evaluated and added on continuing basis Indices Unique and complementary set of indices S&P/IFCGdomestic investor perspective S&P/IFCIforeign investor perspective Breadth of coverage, neutral benchmark, practicality of stock inclusion, historically consistent, readily transparent Products Computer products Weekly and Monthly Stock Series Weekly and Monthly Index Series Monthly Market Series Publications Markets Review Emerging Stock Markets Factbook Variety of delivery options