Dow Jones Hedge Fund Indexes Launched

Date: Wednesday, January 14, 2004

Dow Jones Hedge Fund Indexes (DJHFI) today announced that its new hedge fund strategy benchmark series representing five hedge fund strategies is now being calculated, published and disseminated on a daily basis. The Dow Jones Hedge Fund Strategy Benchmarks were developed to meet the needs of institutional investors who invest in hedge fund strategies. The Benchmarks track the performance of the following five hedge fund strategies: convertible arbitrage, distressed securities, equity market neutral, event driven and merger arbitrage. The Benchmarks are characterized by “style pure” hedge fund managers within each of the strategies, position transparency, daily valuation and ongoing risk controls to meet the needs of institutional investors. Daily index values of the Dow Jones Hedge Fund Strategy Benchmarks will be published in The Wall Street Journal and the Dow Jones Indexes Web site at www.djindexes.com. Weekly index values will be published in Barron’s. Previously, data for the Benchmarks was available only on a monthly basis. The Benchmarks have a base date of December 31, 2001, except for the Dow Jones Equity Market Neutral Benchmark, which started on June 30, 2003.