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GuruNet Joins New Russell Microcap(TM) Index
NEW YORK, July 5 /PRNewswire-FirstCall/ -- GuruNet Corporation (AMEX: GRU),
creators of the Answers.com answer-based search engine, today announced that it
has joined the new Russell Microcap(TM) Index. Russell recently posted its
membership list at http://www.russell.com/US/Indexes.
The Russell Microcap(TM) Index comprises the smallest 1,000 securities in the
small-cap Russell 2000(R) Index plus the next 1,000 companies, based on a
ranking of all U.S. equities by market capitalization. This new index offers
managers and other investors a comprehensive, unbiased barometer to compare
their performance against the genuine micro marketplace of stocks.
"We're honored to be added to the new Russell index," said Bob Rosenschein,
Chairman and CEO of GuruNet. "We hope that coverage on this index will
contribute to our visibility among the investment community, and support our
efforts to build shareholder value."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. More than $2.5 trillion in assets currently are
benchmarked to them. Investment managers who oversee these funds purchase
shares of member stocks according to that company's weighting in the particular
index.
Companies slated for the Russell Microcap were ranked as of May 31 by total
market capitalization and weighted based on free-float adjustment, an integral
aspect of Russell index methodology. Free-float adjustment means stocks are
weighted by their available market capitalization which is calculated by
multiplying the primary closing price by the available shares.
About Russell
Russell, a global leader in multi-manager investment services, provides
investment products and services in more than 39 countries. Russell manages
more than $135 billion in assets and advises clients worldwide representing
$2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual
and is headquartered in Tacoma, Wash., with additional offices in New York,
Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.
About GuruNet
GuruNet Corporation (AMEX:GRU) operates Answers.com, a leading reference
engine, http://www.answers.com/. Founded in 1999 by Bob Rosenschein, GuruNet
Corporation (http://www.gurunet.com/) provides patented technology and software
tools to access concise information on demand. For additional information,
visit http://www.gurunet.com/.
ANSWERS.COM and GURUNET are trademarks of GuruNet Corporation. All other marks
belong to their respective owners.
GuruNet Contact:
Jay Bailey
Director of Communications
+1-888-248-9613
GuruNet Investor Relations:
BPC Financial Marketing
John Baldissera
800-368-1217
DATASOURCE: GuruNet Corporation
CONTACT: GuruNet Contact: Jay Bailey, Director of Communications,
+1-888-248-9613 GuruNet Investor Relations: BPC Financial
Marketing, John Baldissera, 800-368-1217