BioTime, Inc. (NYSE Amex:BTIM) announced today that it has been included on a preliminary list of additions to the Russell 3000® Index and Russell Global® Index posted by Russell Investments on June 11, 2010 at www.russell.com. These changes are expected to go into effect after the close of trading on Friday, June 25, 2010 and remain in place for one year. BioTime expects that inclusion in the Russell 3000 would also result in inclusion in the Russell 2000, which is a subset of the Russell 3000® Index and includes approximately 2,000 of the smaller companies based on their market capitalization. All Russell indexes are sub-indexes of the Global Index. Initial inclusion in the Russell indexes may lead to an increase in trading volume of BioTime shares if investment funds that track the index add the shares to their portfolios.
“The expected addition of BioTime to the Russell 3000® Index and Russell Global® Index could benefit our shareholders by increasing awareness of BTIM among institutional investors, and the investment community in general, as we continue with our strategy to become a leader in the field of regenerative medicine,” said Michael West, CEO of BioTime.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets are benchmarked to them. Stocks that are added to Russell indexes are often purchased by index funds. Russell's investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
More information on the reconstitution is available at http://www.russell.com/indexes/membership/Reconstitution/Reconstitution_changes.aspx.About Russell Investments Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $179 billion in assets under management as of March 31, 2010, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.