NASDAQ Reshuffle

Dear Client,

As a trading client of CMC Group Plc we are writing to notify you of the NASDAQ's recent announcement regarding the annual re-ranking of the NASDAQ-100 Index. CMC's re-shuffle of the top 200 constituents of the SPX-500 will coincide with the NASDAQ-100 re-shuffle. The following inclusions and exclusions will be effective from Monday 20th December 2004.

NASDAQ-100 Inclusions

Autodesk, Inc. ticker ADSK
LM Ericsson Telephone Company ticker ERICY
Liberty Media International, Inc. ticker LBTYA
MCI Inc. ticker MCIP
NTL Incorporated ticker NTLI
Sirius Satellite Radio Inc. ticker SIRI
Wynn Resorts, Limited ticker WYNN
XM Satellite Radio Holdings Inc. ticker XMSR

NASDAQ-100 Exclusions

Cephalon Inc ticker CEPH
Compuware Corp ticker CPWR
First Health ticker FHCC
Gentex Corp ticker GNTX
Henry Schein Inc ticker HSIC
NVIDIA ticker NVDA
Patterson UTI ticker PTEN
Ryanair Hldgs ticker RYAAY

SPX-500 Inclusions

Archer Daniels

ticker ADM
Becton Dickinson ticker BDX
Baker Hughes Inc ticker BHI
*
Gilead Sciences ticker GILD
Ingersoll Rand Co Ltd ticker IR
Monsanto Co ticker MON
Norfolk Southern ticker NSC
*
Paccar Inc ticker PCAR
Praxair Inc ticker PX
Regions Financial Corp. ticker RF
Simon Prop Grp ticker SPG
St Jude Medical ticker STJ
TXU ticker TXU
Xerox Corp ticker XRX
Yum! Brands ticker YUM

SPX-500 Exclusions

Agilent Technologies Inc ticker A
Allergan ticker AGN
Air Prods & Chem ticker APD
*
Bed Bath & Beyond Inc ticker BBBY
Coca-Cola Enterprises ticker CCE
Campbell Soup Co ticker CPB
HJ Heinz Co ticker HNZ
International Game Tech ticker IGT
Kroger Co ticker KR
*
Linear Technology Corp ticker LLTC
Southwest Airlines ticker LUV
Lexmark International ticker LXK
Mellon Financial Corp ticker MEL
*
Paychex Inc ticker PAYX
*
Veritas Software Corp ticker VRTS

*Despite being demoted from CMC's top 200 constituents of the S&P 500 Index, these Stocks presently remain available as part of the NASDAQ-100.

The changes announced by NASDAQ will be applied at close of business on Friday 17th December and take effect at market open on Monday 20th December. Subsequent to this date it will not be possible to open any positions in the deleted Stocks.

CMC will continue to actively make a market in these stocks until Monday 10th January 2005 to all clients with existing positions, allowing them to voluntarily close any open positions on the telephone only. At close of business on Monday 10th January all existing positions will be closed at the closing price.

Please direct any enquiries to cfddesk@cmcplc.com, or alternatively contact the dealing desk by telephone on +44 20 7170 8203.

Best regards,
CFD Dealers


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