NEW YORK, January 5, 2004 -
The American Stock Exchange (Amex) announced that its Amex Composite Index (SYMBOL: XAX) finished the year at 1175.19, a 42% increase over 2002. The XAX, which is comprised of all the listed equities on the exchange, is the leading index over a three-year and five-year period, sharply outperforming the Russell 2000, Wilshire 5000, NYSE Composite Index, Standard & Poor's 500 Index and the Nasdaq Composite Index.
The XAX was the best performing Index during the three year bear market, rising 31% over the past three years, and surging nearly 71% over five years. In comparison, the NYSE Composite Index, Nasdaq Composite Index and Standard & Poor's 500 Index trailed with deficits.
Peter Quick, president of the American Stock Exchange, said, "We are thrilled by the performance of the Amex Composite Index. 2003 has been a tremendous year for equity listings at the Amex and we are looking forward to continuing to attract outstanding companies in 2004. We are committed to providing companies with the resources they need to prosper and grow, and the success of our index has proven that we are delivering on that promise."
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