Standard & Poor's Announces Changes in the S&P/TSX Canadian Indices

TORONTO, June 1 /CNW/ - Standard & Poor's Canadian Index Operations announces the following index changes:

    -   The unitholders of Precision Drilling Trust (TSX:PD.UN) have approved
        the conversion of the company to a corporate structure through a Plan
        of Arrangement. The units will be exchanged on a 1-for-1 basis for
        Precision Drilling Corporation. (TSX:PD). As a result of the
        conversion, Precision Drilling Trust will be removed from the S&P/TSX
        Income Trust and Capped Energy Trust Indices. Precision Drilling
        Corporation will be added to the S&P/TSX Equity, Capped Equity, and
        Equity Completion Indices. The conversion is effective after the
        close of Wednesday, June 2, 2010. The name and ticker change, with no
        change in capitalization, will be effective in the S&P/TSX Composite
        and Capped Composite, the S&P/TSX Completion and the S&P/TSX Capped
        Energy indices.

Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.

About Standard & Poor's Index Services

Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P Global 1200, a composite index comprised of seven regional and country headline indices, the S&P Global BMI, an index with approximately 11,000 constituents and the S&P GSCI, the industry's most closely-watched commodities index. For more information, please visit

About Standard & Poor's

Standard & Poor's, a subsidiary of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With offices in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for 150 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit:

SOURCE Standard & Poor's Canadian Index Operations

For further information: For further information: Tony North, (416) 507-3204,; Dave Guarino, (212) 438-1471,

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Standard & Poor's Canadian Index Operations

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