			PHLX Europe Sector^(SM) (XEX^SM)


DATE	DIVISOR		Reason for Change					Shares Outstanding

6/18/2007	5,256,735		June Quarterly Share Update

3/20/2006	5,343,486		March Quarterly Share Update

12/19/2005	5,368,100		December Quarterly Share Update

11/22/2005	5,369,664		Deletions:	Royal Dutch Petroleum (RD)

9/19/2005	5,703,403		September Quarterly Share Update

6/20/2005	5,748,257		June Quarterly Share Update

3/21/2005	5,760,768		March Quarterly Share Update

12/20/2004	5,766,430		December Quarterly Share Update

10/1/2004	5,641,101		Addition:	Sanofi-Aventis (SNY)				1,405,090,000
			Deletions:	Aventis (AVE)
				Gucci Group (GUCG)

9/20/2004	5,715,761		September Quarterly Share Update

6/21/2004	5,738,355		June Quarterly Share Update

3/22/2004	5,754,411		March Quarterly Share Update

3/4/2004	5,671,631		Reuters Grp PLC (RTRSY) shares change					232,667,000

2/4/2004	5,672,322		Outstanding Share Changes:
			AstraZeneca PLC (AZN)					1,701,000,000
			Nokia Corporation (NOK)					4,715,489,000
			SAP AG (SAP)					1,243,000,000
			STMicroelectronics (STM)					939,100,000

12/22/2003	5,674,981		December Quarterly Share Updates

12/12/2003	5,602,470		Koninklijke Ahold NV - Special Cash Dividend					N/A

10/23/2003	5,604,588		SAP AG (SAP)					1,242,720,000

10/20/2003	5,604,540		Options begin trading on the XEX