In addition to the scheduled semiannual review, the Dow Jones China Offshore 50 Index is reviewed on an ongoing basis. A change to the index composition and a related weight adjustment is necessary whenever there is an extraor¬dinary event (e.g. delisting, bankruptcy, merger, takeover, etc.) involving an index component. In these cases, each event is accounted for as soon as it is effective. Such changes in an index's components are announced, whenever possible, two days prior to their implementation. Divisor adjustments are made using the formulas and procedures described in section 8.3 of the Guide to the Dow Jones Global Indexes. The current index divisors are updated daily and disseminated at www.djindexes.com.

Changes of Primary-Market Listing
In the event that a component company's primary-market listing is moved to an ineligible exchange as defined in section 3.1, the company may be removed from the Dow Jones China Offshore 50 Index.

Monthly Selection List
A selection list is created at the end of each month and upon a listing of any eligible large IPO. The selection list comprises the top 100 companies-including only H shares, Red Chips, U.S.-listed stocks and ADRs-from the Dow Jones China Index based on float-adjusted market capitalization. The list indicates possible changes in the composition of the index at the next semiannual review and is used to determine replacements for stocks that are removed from the index due to mergers, financial distress or similar extraordinary events.

Early Removal
Any company that is removed from the Dow Jones China Index that is also a component of the Dow Jones China Offshore 50 Index is automatically removed from the Dow Jones China Offshore 50 Index.

Early Entry for IPOs
The selection list is also used to identify any large IPO that is eligible for early entry to the index. If an IPO ranks among the top 25 as of the most recent selection list by float-adjusted market capitalization, it is added to the index immediately to replace the lowest-ranked component. A qualified IPO is normally added to the index two days after its IPO date.

Spin-offs and Related Restructurings
If an index constituent is restructured into two or more new companies, the largest new company in terms of market capitalization will be included in the index immediately after the close of trading on the day the restruc¬turing becomes effective, providing it otherwise would be eligible for index membership. If the restructuring involves an index constituent spinning off a portion of its business to form a new company or companies, the parent company, if otherwise eligible for index membership, generally will be retained in the index until the next semiannual review. However, there may be situations where a spinoff, due to its size, may be retained in an index instead of the legally surviving parent company.

Mergers
If an index constituent merges with another company, component or non-component, its index membership will be assumed by the new company immediately after the close of trading on the effective date of the merger, providing the new company also qualifies for the index. If both companies are current index components, the top-ranked non-component from the most current selection list will fill the vacancy created by the merger.

Takeovers
If an index component is taken over by another component company, the former will be removed from the index immediately after the close of trading on the day the takeover becomes effective. The replacement will be the highest ranked non-component from the most recent available selection list. If an index component is taken over by a non-component company, the acquiring company will replace its position in the index, provided the acquiring company meets all eligibility criteria. Otherwise, the highest ranking non-component from the most recent available selection list will be selected as the replacement.

Delisting and Bankruptcy
If an index constituent is delisted by its primary market, or is in bankruptcy proceedings, it will be removed from the index immediately. It will be replaced by the highest-ranking non-component from the most recent selection list.