"DIAMONDS" Based On The Dow Jones Industrial Average Begins Trading On AMEX

(JANUARY-1998) -- Theres now a way to own "shares" of all stocks in the Dow Jones Industrial Average...with one transaction on the American Stock Exchange. Its called DIAMONDS...and is the first and only security allowing investors to buy and sell shares of a portfolio representing all 30 stocks in the Dow Jones Industrial Average.

"DIAMONDS give the average investor or the professional investor the chance to buy one instrument that allows them the very efficient and cheap way to buy the best known indicator of the U.S. stock market and the bluest of blue chip American companies," says American Stock Exchange chairman and CEO Richard F. Syron.

DIAMONDS represents ownership in the DIAMONDS Trust, an open-ended unit investment trust holding a portfolio of common stocks that closely tracks the performance of the Dow and is expected to trade at approximately 1/100th of the value of the Dow. So if the Dow, for example, is at 8000, a share of the DIAMONDS Trust would be valued at $80.

"Investors now have the opportunity with DIAMONDS to invest using the same tool theyve long used to follow the stock market - the Dow Jones Industrial Average," says Dow Jones Indexes President David Moran. "Its a real milestone for Dow Jones, for the American Stock Exchange, and for investors."

Since DIAMONDS differs from index mutual funds in that it prices and trades throughout the day like shares of common stock, it can be bought and sold during market hours - unlike the end-of-day prices most mutual funds are bought and sold at.