Press Release
- Date:
- Thursday, June 19, 2003
- Contact:
- David Peikin
- Phone:
- (301) 918-0818
- Email:
- G1@schwartz-pr.com
Group 1 Software to Join Russell 3000 Index
Lanham, MD — Group 1 Software (Nasdaq: GSOF) today announced that it will join the Russell 3000“ Index when the broad-market index is reconstituted on June 30, according to a preliminary list of additions issued by Frank Russell Company. Index membership will go into effect July 1 and will remain in place for one year. Membership in the Russell 3000 means automatic inclusion in either the large-cap Russell 1000“ Index or small-cap Russell 2000“ Index.
“We're very pleased that our strong financial performance has earned us a spot in the prestigious Russell Index,” said Bob Bowen, CEO of Group 1 Software. “Our elevation to this list is ultimately a testament to the strength of our technology and our customer relationships. We view being a part of the Russell 3000 as an excellent opportunity to expand our visibility among the investment community.” Membership in Russell's 21 U.S. equity indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
Group 1 Software (Nasdaq: GSOF) is a leading provider of software solutions for data quality, customer communications management and direct marketing applications. Group 1's software systems and services enable over 2,000 customers worldwide to market smarter by helping them find, reach and keep customers. Founded in 1982 and headquartered in Lanham, Maryland, Group 1's solutions are utilized by leaders in the financial services, banking, retail, telecommunications, utilities, e-commerce, and insurance industries. The company's customer base includes such recognized names as Charles Schwab, Entergy, GEICO, L.L. Bean, QVC, Wal-Mart and Wells Fargo. For more information about Group 1, visit the company's Web site at http://www.g1.com.
Russell, global leaders in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $67 billion in assets and advises clients worldwide representing US$1.6 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com http://www.russell.com.