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Business Briefs

Reported by Star-Bulletin staff & wire

Friday, July 7, 2000

S&P to change 500 stock index

NEW YORK -- Standard & Poor's said Stilwell Financial Inc. will replace Kansas City Southern Industries Inc. in the S&P 500 index after the close of trading Wednesday.

Standard & Poor's, a unit of McGraw Hill Cos., noted yesterday that Kansas City Southern Industries is spinning off Stilwell Financial to Kansas City Southern shareholders in a transaction expected to close on that date. Standard & Poor's said Kansas City Southern will not be added to an S&P Index at this time.

Standard & Poor's also said CIT Group Inc. will replace Union Pacific Resources Group Inc. after the close of trading July 14. Union Pacific Resources is being acquired by S&P 500 component Anadarko Petroleum Corp.

Stilwell Financial is a financial-services business comprised of Janus Capital Corp., Berger LLC Nelson Money Managers Plc, DST Systems, and other units and equity investments. CIT Group Inc. is a commercial and consumer financing company.