There has been a large volume of press coverage in recent weeks about FTSE''s country classification exercise and the treatment of Greece within it.

FTSE Group stresses again that the results of the findings, are provisional and will be confirmed in September, after further consultation with local markets and the international investment community.

The provisional findings contained in the quality of market matrix are based on the views of international investors (who manage USD2.5 trillion) against FTSE indices. This is a significant investment flow and so management of any changes relating to this investment flow are taken seriously, and approached in the most transparent manner.

The first step in this process was the publication of FTSE''s findings in March 2004. This information is published in the indicative market quality table: www.ftse.com/provisionalmatrix

The second step is to work with the local markets, to ensure provisional analysis is completely accurate, to understand fully the issues facing them, and to gauge how far they meet the proposed market quality criteria. This process is ongoing at present.

The third step is to review the information again in September 2004, and to report back to local markets on any changes made to their assessment, and any possible impact on the overall country classification.

At this stage, FTSE is working with the Athens Exchange to understand better its current and proposed market structure, so that it can report back accurately to the classification working party in September.

FTSE has no plans to move the status of Greece from Developed to Emerging.

FTSE is always happy to speak directly to the media - journalists who want more information about Greece''s status, or about the country classification exercise, should contact FTSE''s press office on media@ftse.com, or by telephone at 44 207 448 1821.