Standard & Poor's Announces Changes to U.S. Indices

June 24, 2008 6:00 PM EDT

NEW YORK, June 24 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:

-- Scripps Networks Interactive Inc. (NYSE: SNIwi) will replace E.W. Scripps Co. (NYSE: SSP) in the S&P 500, and the new E.W. Scripps Co. (NYSE: SSPwi) will replace BankUnited Financial Corp. (Nasdaq: BKUNA) in the S&P SmallCap 600 after the close of trading on Monday, June 30. E.W. Scripps is spinning off Scripps Networks Interactive in a transaction expected to go ex- dividend on Tuesday, July 1. As of today's close of trading, BankUnited Financial had a market cap of approximately $47 million, ranking 600th in the index.

-- Lender Processing Services Inc. (NYSE: LPSwi) will replace Radian Group Inc. (NYSE: RDN) in the S&P MidCap 400 after the close of trading on Wednesday, July 2. Lender Processing Services is being spun off by S&P 500 constituent Fidelity National Information Services Inc. (NYSE: FIS), which will remain in the S&P 500, in a transaction expected to go ex-dividend on Thursday, July 3. As of today's close of trading, Radian Group had a market cap of approximately $165 million, ranking 400th in the index.

Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.

Scripps Networks Interactive will own cable TV brands HGTV, Food Network, DIY Network, Fine Living and Great American Country, and online search and comparison shopping services Shopzilla and uSwitch. Headquartered in Cincinnati, OH, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Broadcasting & Cable TV Sub-Industry index.

The new E.W. Scripps will own daily and community newspapers in 15 markets and 10 broadcast TV stations. Headquartered in Cincinnati, OH, the company will be added to the S&P SmallCap 600 GICS Publishing Sub-Industry index, changing from the S&P 500 Broadcasting & Cable TV Sub-Industry index, of which it is currently a constituent.

Lender Processing Services will provide integrated technology and services to the mortgage industry. Headquartered in Jacksonville, FL, the company will be added to the S&P MidCap 400 GICS Data Processing & Outsourced Services Sub-Industry index.

    Following is a summary of the changes:

                        S&P 500 INDEX - June 30, 2008

              COMPANY             GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
     ADDED    Scripps Networks    Consumer Discretionary  Broadcasting &
               Interactive                                 Cable TV
    DELETED   E.W. Scripps        Consumer Discretionary  Broadcasting &
                                                           Cable TV

                    S&P SMALLCAP 600 INDEX - June 30, 2008

               COMPANY            GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
     ADDED     E.W. Scripps       Consumer Discretionary  Publishing
    DELETED    BankUnited         Financials              Thrifts & Mortgage
                Financial                                  Finance


                     S&P MIDCAP 400 INDEX - July 2, 2008

               COMPANY            GICS ECONOMIC SECTOR    GICS SUB-INDUSTRY
    ADDED      Lender Processing  Information Technology  Data Processing &
                Services                                   Outsourced Services
    DELETED    Radian Group       Financials              Thrifts & Mortgage
                                                           Finance

Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.

About Standard & Poor's Index Services

Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.32 trillion invested and $4.91 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit: www.standardandpoors.com.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com.

SOURCE Standard & Poor's

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