Below you will find definitions for each of the Russell U.S. Equity indexes.

Membership as of reconstitution, June 22, 2007
Based on market-cap rankings as of May 31, 2007

Broad-Market Indexes

Russell 3000E® Index
Measures the performance of the Russell 3000 Index extended to include microcap securities of the Russell Microcap Index. The index represents approximately 99% of the U.S. Equity Market. As of the latest reconstitution, the average market capitalization was approximately $4.7 billion; the median market capitalization was approximately $711.4 million. The index had a total market capitalization range of approximately $468.5 billion to $78.6 million.

Russell 3000® Index
Measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market. As of the latest reconstitution, the average market capitalization was approximately $6.2 billion; the median market capitalization was approximately $1.3 billion. The index had a total market capitalization range of approximately $468.5 billion to $261.8 million.

Russell 3000® Growth Index
Measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values. The stocks in this index are also members of either the Russell 1000 Growth or the Russell 2000 Growth indexes.

Russell 3000® Value Index
Measures the performance of those Russell 3000 Index companies with lower price-to-book ratios and lower forecasted growth values. The stocks in this index are also members of either the Russell 1000 Value or the Russell 2000 Value indexes.

Large-Cap Indexes

Russell 1000® Index
Measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 90% of the total market capitalization of the Russell 3000 Index. As of the latest reconstitution, the average market capitalization was approximately $16.3 billion; the median market capitalization was approximately $6.1 billion. The smallest company in the index had an approximate market capitalization of $2.5 billion.

Russell 1000® Growth Index
Measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.

Russell 1000® Value Index
Measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.

Russell Top 50® Index
Measures the performance of the 50 largest companies in the Russell 3000 Index, representing approximately 37% of the total market capitalization of the Russell 3000. As of the latest reconstitution, the average market capitalization was approximately $136.3 billion; the median market capitalization was approximately $111.3 billion. The smallest company in the Index had an approximate market capitalization of $65.3 billion.

Russell Top 200® Index
Measures the performance of the 200 largest companies in the Russell 1000 Index, which represents approximately 69% of the total market capitalization of the Russell 1000 Index. As of the latest reconstitution, the average market capitalization was approximately $56.3 billion; the median market capitalization was approximately $32.5 billion. The smallest company in the index had an approximate market capitalization of $18.3 billion.

Russell Top 200® Growth Index
Measures the performance of those Russell Top 200 companies with higher price-to-book ratios and higher forecasted growth values. The stocks are also members of the Russell 1000 Growth index.

Russell Top 200® Value Index
Measures the performance of those Russell Top 200 companies with lower price-to-book ratios and lower forecasted growth values. The stocks are also members of the Russell 1000 Value index.

Mid-Cap Indexes

Russell Midcap® Index
Measures the performance of the 800 smallest companies in the Russell 1000 Index, which represent approximately 31% of the total market capitalization of the Russell 1000 Index. As of the latest reconstitution, the average market capitalization was approximately $6.3 billion; the median market capitalization was approximately $4.7 billion. The largest company in the index had an approximate market capitalization of $18.3 billion.

Russell Midcap® Growth Index
Measures the performance of those Russell Midcap companies with higher price-to-book ratios and higher forecasted growth values. The stocks are also members of the Russell 1000 Growth index.

Russell Midcap® Value Index
Measures the performance of those Russell Midcap companies with lower price-to-book ratios and lower forecasted growth values. The stocks are also members of the Russell 1000 Value index.

Small-Cap Indexes

Russell 2000® Index
Measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 10% of the total market capitalization of the Russell 3000 Index. As of the latest reconstitution, the average market capitalization was approximately $898.3 million; the median market capitalization was approximately $705.4 million. The largest company in the index had an approximate market capitalization of $2.5 billion and a smallest of $261.8 million.

Russell 2000® Growth Index
Measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values.

Russell 2000® Value Index
Measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.

Russell 2500™ Index
Measures the performance of the 2,500 smallest companies in the Russell 3000 Index, which represents approximately 20% of the total market capitalization of the Russell 3000 Index. As of the latest reconstitution, the average market capitalization was approximately $1.5 billion; the median market capitalization was approximately $954.1 million. The largest company in the index had an approximate market capitalization of $6.2 billion.

Russell 2500™ Growth Index
Measures the performance of those Russell 2500 companies with higher price-to-book ratios and higher forecasted growth values.

Russell 2500™ Value Index
Measures the performance of those Russell 2500 companies with lower price-to-book ratios and lower forecasted growth values.

Russell Small Cap Completeness® Index
Measures the performance of the companies in the Russell 3000 Index excluding the companies in the Standard & Poor's 500 Index. This Index provides a performance standard for active managers looking for a liquid extended benchmark. The index is also viable for a passive investment strategy in the extended market. As of the latest reconstitution, the average market capitalization was approximately $1.8 billion; the median market capitalization was approximately $958.1 million. The largest company in the index had an approximate market capitalization of $84.0 billion; the smallest company in the index has an approximate market capitalization of $261.8 million.

Russell Small Cap Completeness® Growth Index
Measures the performance of those Russell Small Cap Completeness companies with higher price-to-book ratios and higher forecasted growth values.

Russell Small Cap Completeness® Value Index
Measures the performance of those Russell Small Cap Completeness companies with lower price-to-book ratios and lower forecasted growth values.

Micro-Cap Indexes

Russell Microcap® Index
Measures performance of the microcap segment, representing less than 3% of the U.S. equity market. The Russell Microcap Index includes the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next smaller 1,000 securities. As of the latest reconstitution, the average market capitalization was approximately $300.9 million; the median market capitalization was approximately $260.1 million. The largest company in the index had an approximate market capitalization of $711.4 million; the smallest company in the index has an approximate market capitalization of $78.6 million.

Russell Microcap® Growth Index
Measures the performance of those Russell Microcap companies with higher price-to-book ratios and higher forecasted growth values.

Russell Microcap® Value Index
Measures the performance of those Russell Microcap companies with lower price-to-book ratios and lower forecasted growth values.