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Monday 22 May, 2000


FTSE Global Classification System Changes

22 May 2000

        FTSE Global Classification System Changes
The FTSE Global Classification Committee announces
changes to the classification of the following companies,
which will be implemented after the close of business on
Monday 22nd May.

The companies concerned are:

Staveley   Industries   plc,   a   SmallCap   constituent
previously  classified  as 240 - Diversifed  Industrials,
will be classified as 581 - Business Support Services.

Armour Trust plc, a Fledgling constituent previously
classified as 475 - Household Products, will be
classified as 253 -Electronic Equipment.

Notes for Editors:

Background to FTSE

FTSE  is  one  of  the  world's leading  experts  in  the
creation and management of equity indices and is  jointly
owned  by  the  London Stock Exchange and  the  Financial
Times.  With offices in London, New York and Paris,  FTSE
International services clients in 77 countries worldwide.
It  manages  and  develops  globally  recognised  indices
ranging  from the FTSE World Index to the real time  FTSE
Eurotop  series  and  the  FTSE  100.  The  company   has
collaborative  arrangements with the  London,  Amsterdam,
Brussels,  Norex,  Athens, Luxembourg  and  Madrid  stock
exchanges, as well as with Nikkei of Japan (Nihon  Keizai
Shimbun, Inc).

FTSE indices are used extensively by investors world-wide
for  investment analysis, performance measurement,  asset
allocation  and  for  creating  a  wide  range  of  index
tracking  funds.  Committees  of  senior  fund  managers,
derivatives    experts,   actuaries    and    experienced
practitioners  independently review all  changes  to  the
indices  ensuring  that  they are  accurate,  timely  and
without bias.

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