KIE SPDR S&P Insurance

Keefe, Bruyette & Woods, Inc., a full service investment bank that specializes in the financial services sector, and a wholly-owned subsidiary of KBW, Inc. (NYSE: KBW), today announced upcoming changes to the KBW Insurance Index (Index Symbol: KIXSM, ETF Symbol: KIESM) and KBW Mortgage Finance Index (Index Symbol: MFXSM). Effective prior to the opening of business on Friday, July 18, 2008, ACE Ltd. (NYSE: ACE), a component of the KIX, will be deleted from that index due to its reincorporation in Switzerland. Ameriprise Financial Inc. (NYSE: AMP) will replace ACE within the KIX. Also effective July 18, 2008, IndyMac Bancorp (Other OTC: IDMC.PK), a component of the MFX, will be deleted from that index due to its seizure by the Federal Deposit Insurance Corporation over the last weekend. First American Corp. (NYSE: FAF) will replace IDMC.PK within the MFX. The KBW family of indices and exchange traded funds include: KBW Bank Index (Index Symbol: BKXSM, ETF Symbol KBESM); KBW Capital Markets Index (Index Symbol: KSXSM, ETF Symbol KCESM); KBW Insurance Index (Index Symbol: KIXSM, ETF Symbol KIESM); KBW Regional Banking Index (Index Symbol: KRXSM, ETF Symbol: KRESM) and KBW Mortgage Finance Index (Index Symbol: MFXSM). About KBW KBW, Inc. is the parent of Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and KBW Asset Management. Keefe, Bruyette & Woods, Inc. is a full service investment bank specializing in the financial services industry. Founded in 1962, it is widely recognized as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. The firm has established industry-leading positions in the areas of research, corporate finance, mergers and acquisitions, as well as sales and trading for financial services companies.