On the basis of effective turnover on the AEX-Effectenbeurs over the years 1995 and 1996 and the first ten months of 1997, Ordina Beheer and Van Leer qualify for inclusion in the Amsterdam Midkap-index. In that case, De Boer Unigro and Ten Cate would be dropped from the index.

Furthermore, as announced earlier, Amsterdam Midkap-index stocks Baan Company, ASM Lithography and Vendex International would also be included in the AEX index, would then move to the Amsterdam Midkap-index.

These are the conclusions of the indicative selection of AEX stocks which is calculated each month by Amsterdam Exchanges. It is stressed that the calculation is based on Vendex concern in its present form. No account has been taken of an eventual split-up of the shares of Vendex International. Neither has the planned merger between Elsevier and Wolters Kluwer been taken into account.

The AEX-index of the 25 most traded issues on Amsterdam Exchanges and the Amsterdam Midkap index, reflecting the performances of the next 25 stocks, is revised annually following the February expiration. Revisions are based on total effective turnover of individual stocks on the AEX-Effectenbeurs over the previous three calendar years.

Effective turnover is defined as the number of shares multiplied by the price at which a share is traded. Effective turnover is expressed in guilders.

Shown below is the indicative selection of stocks for the AEX-index and the Amsterdam Midkap-index based on effective turnovers over the entire years 1995 and 1996 and the first ten months of 1997.

    AEX-index                        Amsterdam Midkap-index
1.  ABN AMRO Holding                 Ahrend
2.  AEGON                            ASR Verzekeringsgroep
3.  Ahold                            BolsWessanen
4.  Akzo Nobel                       Boskalis Westminster
5.  ASM Lithography                  Cap Gemini
6.  Baan Company                     CSM
7.  DSM                              Endermol Entertainment
8.  Elsevier                         Getronics
9.  Fortis Amev                      Gist-brocades
10. Hagemeyer                        Grolsch
11. Heineken                         HBG
12. Hoovgovens                       Hunter Douglas
13. ING Group                        IHC Caland
14. KLM                              Internatio-Muller
15. KNP BT                           KBB
16. Koninklijke Olie                 Van Leer
17. KPN                              Nedlloyd
18. Nutricia VB                      NBM-Amstelland
19. Oce                              Van Ommeren
20. Philips Electronics              Ordina Beheer
21. Polygram                         Pakhoed
22. Unilever                         Vendex International
24. VNU VB                           Volker Wessels Stevin
25.  Wolters Kluwer                   Wegener Arcade

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information please contact Raymond Salet, Amsterdam Exchanges AEX Amsterdam: 00 31 20 550 4433 or Paddy Manning, St James Corporate Communications London: 44 171 436 4101.