The NYSE Composite Index (Index) is composed of all the approximately 2000 common stocks listed on the New York Stock Exchange, Inc. (NYSE). More than 40 separate industry classifications are represented by the Index.

As a result, the NYSE Composite Index reflects the broad spectrum of the American economy, unlike many other market averages and indexes which tend to limit their focus to more narrow business sectors. As of August 30,1 992 there were 1 1 85 industrial issues, 9R2 financial issues, 186 utility issues, and 43 transportation issues in the Index, for a total of 1996 common stocks. The composition of the Index is updated every time a stock is listed or delisted.

The NYSE Composite Index is a capitalization-weighted index. This means the impact on the Index of a price change in any given stock will depend on that company's capitalization. Capitalization is determined by the price of the stock multiplied by the number of shares outstanding. Higher capitalized stocks will have a greater impact on the level of the Index than will lower capitalized stocks.