Standard & Poor's Announces Changes in the S&P/TSX Canadian Indices

TORONTO, May 25 /CNW/ - Standard & Poor's Canadian Index Operations announces the following index changes:

    
    -   The shareholders of FNX Mining Company Limited (TSX:FNX) and Quadra
        Mining Ltd. (TSX:QUA) have approved a Plan of Arrangement whereby the
        companies will merge to form Quadra FNX Mining Ltd. The new company
        will trade under the new ticker symbol QUX. Shareholders of FNX
        Mining will receive 0.87 shares of the new Quadra FNX for each share
        held. FNX Mining will be removed from the S&P/TSX Composite and
        Capped Composite, the S&P/TSX Equity and Capped Equity, the S&P/TSX
        Completion and Equity Completion, the S&P/TSX SmallCap and Equity
        SmallCap, the S&P/TSX Capped Materials and the S&P/TSX Capped
        Diversified Metals & Mining Indices. The relative weight of Quadra
        Mining will increase in all the same indices to reflect the issuance
        of the new Quadra FNX shares. FNX Mining will also be removed from
        the S&P/TSX Global Mining, Global Base Metals and Equal Weight Global
        Base Metals Indices. Quadra FNX Mining will be added to the S&P/TSX
        Global Mining, Global Base Metals and Equal Weight Global Base Metals
        Indices. These changes will all be effective after the close of
        trading on Thursday, May 27, 2010.
    

Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.

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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. Over $1 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P Global 1200, a composite index comprised of seven regional and country headline indices, the S&P Global BMI, an index with approximately 11,000 constituents and the S&P GSCI, the industry's most closely-watched commodities index. For more information, please visit www.standardandpoors.com/indices.

About Standard & Poor's

Standard & Poor's, a subsidiary of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With offices in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for 150 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.

For further information: Tony North, [phone], [email protected]; Dave Guarino, [phone], [email protected]