KBW Announces Changes to BKX, KRX and MFX

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 Marshall & Ilsley Corporation (NYSE: MI); from the KBW Bank Index (BKXSM) and New York Community Bancorp Inc. (NYSE: NYB); from the KBW Mortgage Finance Index (MFXSM). We are also increasing the shares of First Niagara Financial Group Inc. (NASDAQ: FNFG), Huntington Bancshares Inc. (NASDAQ: HBAN) and Wintrust Financial Corp. (NASDAQ: WTFC). These changes will be effective before markets open for business on Monday, December 27, 2010.

Marshall & Ilsley Corporation (NYSE: MI) will be replaced by New York Community Bancorp Inc. (NYSE: NYB) and Old Republic International Corp. (ORI) will replace New York Community Bancorp Inc. (NYSE: NYB) in the KBW Mortgage Finance Index (MFXSM). The increase in the shares of First Niagara Financial Group Inc. (NASDAQ: FNFG) is due to the completion of the previously announced merger with NewAlliance Bancshares (NYSE: NAL). Additionally, we are increasing the shares of Huntington Bancshares Inc. (NASDAQ: HBAN), a member of BKX, and Wintrust Financial Corp. (NASDAQ: WTFC), a member of KBW Regional Banking Index (KRX), due to their recent equity issuance.

The KBW indices that have tradable exchange-traded funds are: KBW Bank Index (Index Symbol: BKXSM, ETF Symbol KBESM); KBW Capital Markets Index (Index Symbol: KSXSM, ETF Symbol KCESM); KBW Insurance Index (Index Symbol: KIXSM, ETF Symbol KIESM); KBW Mortgage Finance Index (Index Symbol: MFXSM, ETF Symbol: KMESM) KBW Regional Banking Index (Index Symbol: KRXSM, ETF Symbol: KRESM, KRSSM, KRUSM), and KBW Financial Sector Dividend Yield Index (Index Symbol: KDXSM, ETF Symbol KBWDSM); KBW Premium Yield Equity REIT Index (Index Symbol: KYXSM, ETF Symbol KBWYSM); KBW Property and Casualty Insurance Index (Index Symbol: KPXSM, ETF Symbol KBWPSM); and KBW Global (Ex. U.S.) Financial Sector Index (Index Symbol: KGXSM, ETF Symbol KBWXSM).

About KBW

KBW, Inc. is the parent of Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and KBW Asset Management. Keefe, Bruyette & Woods, Inc. is a full-service investment bank specializing in the financial services industry. Founded in 1962, it 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.