Keefe, Bruyette & Woods, Inc., a full-service investment bank that specializes in the financial services sector, and a wholly owned subsidiary of KBW, Inc. (NYSE: KBW), today announces the deletion of Walter Investment Management Corp. (NYSE: WAC) and the addition of Starwood Property Trust, Inc. (NASDAQ: STWD) to the Financial Sector Dividend Yield Index (KDX SM). These changes will be effective prior to the opening of business on Monday, July 11, 2011.

The KBW indices have eleven tradable exchange-traded funds licensed: KBW Bank Index (Index Ticker: BKX SM, ETF Ticker: KBE SM); KBW Capital Markets Index (Index Ticker: KSX SM, ETF Ticker: KCE SM); KBW Insurance Index (Index Ticker: KIX SM, ETF Ticker: KIE SM); KBW Mortgage Finance Index (Index Ticker: MFX SM, ETF Ticker: KME SM); KBW Regional Banking Index (Index Ticker: KRX SM, ETF Ticker: KRE SM, KRS SM, KRU SM); KBW Financial Sector Dividend Yield Index (Index Ticker: KDX SM, ETF Ticker: KBWD SM); KBW Premium Yield Equity REIT Index (Index Ticker: KYX SM, ETF Ticker: KBWY SM); KBW Property and Casualty Insurance Index (Index Ticker: KPX SM, ETF Ticker: KBWP SM); and KBW Global (Ex. U.S.) Financial Sector Index (Index Ticker: KGX SM, ETF Ticker: KBWX SM).

About KBW

KBW, Inc. operates in the U.S., Europe and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods Asia Limited. It also offers asset management services through KBW Asset Management, Inc. Founded in 1962, the firm is widely recognized as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. The firm has established industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.

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