global1000 list

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July 26, 2004 | BusinessWeek | 69 105 NR Telecom Italia Italy 43.99 106 109 United Technologies U.S. 43.63 107 89 Canon Japan 43.46 108 95 Gillette U.S. 43.39 109 79 DuPont U.S. 43.19 110 72 Anheuser-Busch U.S. 43.19 111 100 Honda Motor Japan 42.32 112 88 Telstra Australia 42.26 113 107 Lowe’s U.S. 42.12 114 423 Sumitomo Mitsui Financial Japan 41.32 115 110 Crédit Suisse Group Switzerland 41.01 116 124 UnitedHealth Group U.S. 40.83 117 211 Yahoo! U.S. 40.79 118 104 Target U.S. 40.74 119 102 Diageo Britain 40.65 120 123 Allianz Germany 40.32 121 81 Freddie Mac U.S. 40.21 122 342 Yahoo! Japan Japan 39.23 123 119 First Data U.S. 38.90 124 87 Washington Mutual U.S. 38.48 125 169 AT&T Wireless U.S. 38.44 126 138 Société Générale France 37.20 127 125 Dow Chemical U.S. 37.18 128 166 Boston Scientific U.S. 36.99 129 101 Takeda Chemical Industries Japan 36.77 130 150 Boeing U.S. 36.72 131 137 Axa France 36.61 132 129 Crédit Agricole France 36.28 133 141 Philips Electronics Netherlands 35.95 134 117 Walgreen U.S. 35.88 135 147 LVMH Moet Hennessy Louis Vuitton France 35.12 136 151 Tesco Britain 35.05 137 113 Carrefour France 35.03 138 120 ABN AMRO Holding Netherlands 34.88 139 152 Carnival U.S./Britain 34.48 140 NR Taiwan Semiconductor Mfg. Taiwan 34.06 141 149 Sony Japan 33.70 142 128 Schlumberger U.S. 33.68 143 142 Applied Materials U.S. 33.67 144 161 Matsushita Electric Industrial Japan 33.56 145 132 Rio Tinto Australia/Brit. 33.51 146 153 McDonald’s U.S. 33.25 147 122 Assicurazioni Generali Italy 33.14 148 135 Kimberly-Clark U.S. 33.05 149 106 National Australia Bank Australia 32.46 150 143 MBNA U.S. 32.45 151 121 Liberty Media U.S. 31.95 152 299 Manulife Financial Canada 31.34 153 NR Anglo American South Africa 31.27 154 144 Allstate U.S. 31.00 155 105 Fifth Third Bancorp U.S. 30.77 156 112 Colgate-Palmolive U.S. 30.47 157 155 British American Tobacco Britain 30.37 158 182 Nomura Holdings Japan 30.06 159 126 Unicredito Italiano Italy 29.62 160 131 Tokyo Electric Power Japan 29.50 161 139 Cardinal Health U.S. 29.45 162 157 Commonwealth Bank of Australia Australia 29.29 163 159 Honeywell International U.S. 28.94 164 130 BT Group Britain 28.90 165 146 BASF Germany 28.75 166 140 Hutchison Whampoa Hong Kong 28.44 167 127 Royal Bank of Canada Canada 28.40 168 346 A.P. Møller-Mærsk Denmark 28.12 169 158 BMW Germany 28.08 170 186 Vivendi Universal France 28.00 171 200 Illinois Tool Works U.S. 27.82 172 196 Statoil Norway 27.57 173 165 Fortis Belgium 27.38 174 173 Alcoa U.S. 27.24 175 154 EMC U.S. 27.20 176 194 Ford Motor U.S. 27.19 177 NR Petrobras Brazil 27.18 178 187 MetLife U.S. 26.87 179 474 St. Paul Travelers U.S. 26.43 180 145 Fox Entertainment Group U.S. 26.25 181 172 Automatic Data Processing U.S. 26.21 182 190 Repsol YPF Spain 25.93 183 NR Surgutneftegas Russia 25.85 184 176 Seven-Eleven Japan Japan 25.84 185 209 Caterpillar U.S. 25.73 186 184 General Motors U.S. 25.62 187 244 Nextel Communications U.S. 25.62 188 164 Bank of Nova Scotia Canada 25.34 189 320 Sprint U.S. 25.32 190 163 Emerson Electric U.S. 25.18 191 780 UFJ Holdings Japan 24.99 192 133 Schering-Plough U.S. 24.88 193 278 Millea Holdings Japan 24.70 194 234 RWE Germany 24.66 195 178 Hang Seng Bank Hong Kong 24.41 196 181 National Grid TransCo Britain 24.40 197 148 Clear Channel Communications U.S. 24.39 198 226 DIRECTV Group U.S. 24.37 199 282 Alcon U.S. 24.25 200 179 Sysco U.S. 24.18 201 171 Banca Intesa Italy 24.06 202 229 Accenture U.S. 24.01 203 168 Gannett U.S. 23.96 204 257 DDI Japan 23.75 205 204 Prudential Financial U.S. 23.69 206 NR Lukoil Holding Russia 23.65 207 191 Münchener Rück. Germany 23.53 208 250 Singapore Telecommunications Singapore 23.39 209 162 Bank of New York U.S. 23.38 210 207 Forest Laboratories U.S. 23.31 211 208 Australia & New Zealand Banking Group Australia 23.26 212 201 Groupe Danone France 23.16 213 219 Cendant U.S. 23.12 214 284 Hitachi Ltd. Japan 23.10 215 134 Marsh & McLennan U.S. 23.10 216 193 Reed Elsevier Neth./Britain 22.66 217 214 Zurich Financial Services Group Switzerland 22.64 218 223 Deutsche Post Germany 22.35 219 202 Westpac Banking Australia 22.28 220 NR America Movil Mexico 22.19 221 167 Lockheed Martin U.S. 22.16 222 230 Aviva Britain 22.04 223 203 Exelon U.S. 22.01 224 197 FedEx U.S. 21.96 225 199 InterActiveCorp U.S. 21.89 226 231 Toronto-Dominion Bank Canada 21.86 227 175 National City U.S. 21.84 228 170 British Sky Broadcasting Group Britain 21.80 229 253 Gap U.S. 21.63 230 239 BG Group Britain 21.49 231 188 Thomson Canada 21.43 232 160 Southern Co. U.S. 21.33 RANK MARKET VALUE 2004 2003 Billions of U.S. Dollars RANK MARKET VALUE 2004 2003 Billions of U.S. Dollars 68 | BusinessWeek | July 26, 2004 2004 LEADERS 1 1 General Electric U.S. 328.11 2 2 Microsoft U.S. 284.43 3 3 Exxon Mobil U.S. 283.61 4 4 Pfizer U.S. 269.66 5 5 Wal-Mart Stores U.S. 241.19 6 6 Citigroup U.S. 239.43 7 9 BP Britain 193.05 8 10 American International Group U.S. 191.18 9 13 Intel U.S. 184.66 10 8 Royal Dutch/Shell Group Neth./Britain 174.83 11 21 Bank of America U.S. 169.84 12 7 Johnson & Johnson U.S. 165.32 13 14 HSBC Holdings Britain 163.09 14 12 Vodafone Group Britain 159.15 15 18 Cisco Systems U.S. 152.23 16 11 International Business Machines U.S. 150.55 17 17 Procter & Gamble U.S. 139.35 18 22 Berkshire Hathaway U.S. 136.86 19 26 Toyota Motor Japan 130.65 20 20 Coca-Cola U.S. 125.56 21 19 Novartis Switzerland 125.51 22 16 GlaxoSmithKline Britain 124.05 23 24 Total France 122.94 24 15 Merck U.S. 105.21 25 31 Nestlé Switzerland 104.87 26 32 Wells Fargo U.S. 99.85 27 28 Altria Group U.S. 98.20 28 36 ChevronTexaco U.S. 96.70 29 40 Roche Holding Switzerland 95.93 30 25 Verizon Communications U.S. 95.77 31 38 Royal Bank of Scotland Group Britain 94.37 32 23 NTT DoCoMo Japan 92.17 33 35 PepsiCo U.S. 91.28 34 33 Dell U.S. 90.08 35 46 UBS Switzerland 84.79 36 48 Eli Lilly U.S. 83.21 37 50 ENI Italy 82.07 38 37 Home Depot U.S. 81.73 39 41 United Parcel Service U.S. 80.69 40 60 Nippon Telegraph & Telephone Japan 79.02 41 29 SBC Communications U.S. 78.41 42 42 AstraZeneca Britain 78.36 43 44 Time Warner U.S. 77.64 44 49 J.P. Morgan Chase U.S. 75.25 45 58 Telefónica Spain 72.08 46 NR Samsung Electronics Korea 71.07 47 NR Gazprom Russia 70.78 48 51 Deutsche Telekom Germany 70.53 49 30 Amgen U.S. 70.02 50 27 Nokia Finland 66.95 51 65 3M U.S. 66.26 52 39 Fannie Mae U.S. 65.91 53 61 American Express U.S. 65.41 54 55 Unilever Neth./Britain 65.30 55 53 Hewlett-Packard U.S. 64.82 56 47 Comcast U.S. 64.64 57 34 Viacom U.S. 64.53 58 43 Abbott Laboratories U.S. 64.27 59 80 Aventis France 63.65 60 78 Siemens Germany 63.15 61 114 Genentech U.S. 63.04 62 62 Wachovia U.S. 61.94 63 99 Tyco International U.S. 61.72 64 57 France Télécom France 59.25 65 45 Oracle U.S. 59.18 66 111 eBay U.S. 58.08 67 54 Medtronic U.S. 58.05 68 63 Morgan Stanley U.S. 58.04 69 69 Barclays Britain 56.92 70 NR China Mobile (Hong Kong) China 56.66 71 74 BNP Paribas France 55.72 72 156 Mitsubishi Tokyo Financial Japan 55.13 73 83 Merrill Lynch U.S. 54.58 74 76 Banc One U.S. 54.26 75 136 Qualcomm U.S. 54.25 76 71 U.S. Bancorp U.S. 54.16 77 103 BHP Billiton Australia/Brit. 53.16 78 67 L’ Oréal France 52.88 79 92 News Corp. Australia 52.24 80 59 Kraft Foods U.S. 51.47 81 98 SAP Germany 50.87 82 86 Banco Santander Central Hispano Spain 50.54 83 75 HBOS Britain 50.47 84 90 ConocoPhillips U.S. 50.17 85 636 Mizuho Financial Japan 50.01 86 77 Enel Italy 49.61 87 64 Bristol-Myers Squibb U.S. 49.13 88 68 Sanofi-Synthélabo France 48.46 89 93 E.ON Germany 48.12 90 56 Wyeth U.S. 48.04 91 84 Walt Disney U.S. 48.00 92 108 ING Groep Netherlands 46.58 93 73 TIM Italy 46.53 94 185 Motorola U.S. 46.30 95 91 Deutsche Bank Germany 46.05 96 66 BellSouth U.S. 45.71 97 94 Nissan Motor Japan 45.52 98 85 Goldman Sachs Group U.S. 45.39 99 115 DaimlerChrysler Germany 45.34 100 96 Texas Instruments U.S. 45.23 101 228 LM Ericsson Sweden 45.15 102 116 Banco Bilbao Vizcaya Argentaria Spain 44.84 103 97 Telefónica Móviles Spain 44.58 104 82 Lloyds TSB Group Britain 44.20 RANK MARKET VALUE 2004 2003 Billions of U.S. Dollars The BusinessWeek Global 1000 RANK MARKET VALUE 2004 2003 Billions of U.S. Dollars

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Page 1: Global1000 List

July 26, 2004 | BusinessWeek | 69

v02

Distribution: Power; Serrill; Dawson; JespersenLarge: Morrison, Jespersen (3x)CREDITS:

ISSUE DATE: BusinessWeek C M Y KEDIT PASS VERSION: DEPARTMENT: ART DIRECTOR:

DOMESTIC INT EUR ASIA STORY: PRODUCTION:

CLOSE DESK:

7/26/04

3 SPECIAL REPORT

SCOREBOARD

69

105 NR Telecom Italia Italy 43.99106 109 United Technologies U.S. 43.63107 89 Canon Japan 43.46108 95 Gillette U.S. 43.39109 79 DuPont U.S. 43.19110 72 Anheuser-Busch U.S. 43.19111 100 Honda Motor Japan 42.32112 88 Telstra Australia 42.26113 107 Lowe’s U.S. 42.12114 423 Sumitomo Mitsui Financial Japan 41.32115 110 Crédit Suisse Group Switzerland 41.01116 124 UnitedHealth Group U.S. 40.83117 211 Yahoo! U.S. 40.79118 104 Target U.S. 40.74119 102 Diageo Britain 40.65120 123 Allianz Germany 40.32121 81 Freddie Mac U.S. 40.21122 342 Yahoo! Japan Japan 39.23123 119 First Data U.S. 38.90124 87 Washington Mutual U.S. 38.48125 169 AT&T Wireless U.S. 38.44126 138 Société Générale France 37.20127 125 Dow Chemical U.S. 37.18128 166 Boston Scientific U.S. 36.99129 101 Takeda Chemical Industries Japan 36.77130 150 Boeing U.S. 36.72131 137 Axa France 36.61132 129 Crédit Agricole France 36.28133 141 Philips Electronics Netherlands 35.95134 117 Walgreen U.S. 35.88135 147 LVMH Moet Hennessy Louis Vuitton France 35.12136 151 Tesco Britain 35.05137 113 Carrefour France 35.03138 120 ABN AMRO Holding Netherlands 34.88139 152 Carnival U.S./Britain 34.48140 NR Taiwan Semiconductor Mfg. Taiwan 34.06141 149 Sony Japan 33.70142 128 Schlumberger U.S. 33.68143 142 Applied Materials U.S. 33.67144 161 Matsushita Electric Industrial Japan 33.56145 132 Rio Tinto Australia/Brit. 33.51146 153 McDonald’s U.S. 33.25147 122 Assicurazioni Generali Italy 33.14148 135 Kimberly-Clark U.S. 33.05149 106 National Australia Bank Australia 32.46150 143 MBNA U.S. 32.45151 121 Liberty Media U.S. 31.95152 299 Manulife Financial Canada 31.34153 NR Anglo American South Africa 31.27154 144 Allstate U.S. 31.00155 105 Fifth Third Bancorp U.S. 30.77156 112 Colgate-Palmolive U.S. 30.47157 155 British American Tobacco Britain 30.37158 182 Nomura Holdings Japan 30.06159 126 Unicredito Italiano Italy 29.62160 131 Tokyo Electric Power Japan 29.50161 139 Cardinal Health U.S. 29.45162 157 Commonwealth Bank of Australia Australia 29.29163 159 Honeywell International U.S. 28.94164 130 BT Group Britain 28.90165 146 BASF Germany 28.75166 140 Hutchison Whampoa Hong Kong 28.44167 127 Royal Bank of Canada Canada 28.40168 346 A.P. Møller-Mærsk Denmark 28.12

169 158 BMW Germany 28.08170 186 Vivendi Universal France 28.00171 200 Illinois Tool Works U.S. 27.82172 196 Statoil Norway 27.57173 165 Fortis Belgium 27.38174 173 Alcoa U.S. 27.24175 154 EMC U.S. 27.20176 194 Ford Motor U.S. 27.19177 NR Petrobras Brazil 27.18178 187 MetLife U.S. 26.87179 474 St. Paul Travelers U.S. 26.43180 145 Fox Entertainment Group U.S. 26.25181 172 Automatic Data Processing U.S. 26.21182 190 Repsol YPF Spain 25.93183 NR Surgutneftegas Russia 25.85184 176 Seven-Eleven Japan Japan 25.84185 209 Caterpillar U.S. 25.73186 184 General Motors U.S. 25.62187 244 Nextel Communications U.S. 25.62188 164 Bank of Nova Scotia Canada 25.34189 320 Sprint U.S. 25.32190 163 Emerson Electric U.S. 25.18191 780 UFJ Holdings Japan 24.99192 133 Schering-Plough U.S. 24.88193 278 Millea Holdings Japan 24.70194 234 RWE Germany 24.66195 178 Hang Seng Bank Hong Kong 24.41196 181 National Grid TransCo Britain 24.40197 148 Clear Channel Communications U.S. 24.39198 226 DIRECTV Group U.S. 24.37199 282 Alcon U.S. 24.25200 179 Sysco U.S. 24.18201 171 Banca Intesa Italy 24.06202 229 Accenture U.S. 24.01203 168 Gannett U.S. 23.96204 257 DDI Japan 23.75205 204 Prudential Financial U.S. 23.69206 NR Lukoil Holding Russia 23.65207 191 Münchener Rück. Germany 23.53208 250 Singapore Telecommunications Singapore 23.39209 162 Bank of New York U.S. 23.38210 207 Forest Laboratories U.S. 23.31211 208 Australia & New Zealand Banking Group Australia 23.26212 201 Groupe Danone France 23.16213 219 Cendant U.S. 23.12214 284 Hitachi Ltd. Japan 23.10215 134 Marsh & McLennan U.S. 23.10216 193 Reed Elsevier Neth./Britain 22.66217 214 Zurich Financial Services Group Switzerland 22.64218 223 Deutsche Post Germany 22.35219 202 Westpac Banking Australia 22.28220 NR America Movil Mexico 22.19221 167 Lockheed Martin U.S. 22.16222 230 Aviva Britain 22.04223 203 Exelon U.S. 22.01224 197 FedEx U.S. 21.96225 199 InterActiveCorp U.S. 21.89226 231 Toronto-Dominion Bank Canada 21.86227 175 National City U.S. 21.84228 170 British Sky Broadcasting Group Britain 21.80229 253 Gap U.S. 21.63230 239 BG Group Britain 21.49231 188 Thomson Canada 21.43232 160 Southern Co. U.S. 21.33

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

68 | BusinessWeek | July 26, 2004

v02

ISSUE DATE: BusinessWeek C M Y KEDIT PASS VERSION: DEPARTMENT: ART DIRECTOR:

DOMESTIC INT EUR ASIA STORY: PRODUCTION:

CLOSE DESK:

7/26/04

3 SPECIAL REPORT

SCOREBOARD

68

Distribution: Power; Serrill; Dawson; JespersenLarge: Morrison, Jespersen (3x)CREDITS:

2004 LEADERS

1 1 General Electric U.S. 328.112 2 Microsoft U.S. 284.433 3 Exxon Mobil U.S. 283.614 4 Pfizer U.S. 269.665 5 Wal-Mart Stores U.S. 241.196 6 Citigroup U.S. 239.437 9 BP Britain 193.058 10 American International Group U.S. 191.189 13 Intel U.S. 184.66

10 8 Royal Dutch/Shell Group Neth./Britain 174.8311 21 Bank of America U.S. 169.8412 7 Johnson & Johnson U.S. 165.3213 14 HSBC Holdings Britain 163.0914 12 Vodafone Group Britain 159.1515 18 Cisco Systems U.S. 152.2316 11 International Business Machines U.S. 150.5517 17 Procter & Gamble U.S. 139.3518 22 Berkshire Hathaway U.S. 136.8619 26 Toyota Motor Japan 130.6520 20 Coca-Cola U.S. 125.5621 19 Novartis Switzerland 125.5122 16 GlaxoSmithKline Britain 124.0523 24 Total France 122.9424 15 Merck U.S. 105.2125 31 Nestlé Switzerland 104.8726 32 Wells Fargo U.S. 99.8527 28 Altria Group U.S. 98.2028 36 ChevronTexaco U.S. 96.7029 40 Roche Holding Switzerland 95.9330 25 Verizon Communications U.S. 95.7731 38 Royal Bank of Scotland Group Britain 94.3732 23 NTT DoCoMo Japan 92.1733 35 PepsiCo U.S. 91.2834 33 Dell U.S. 90.0835 46 UBS Switzerland 84.7936 48 Eli Lilly U.S. 83.2137 50 ENI Italy 82.0738 37 Home Depot U.S. 81.7339 41 United Parcel Service U.S. 80.6940 60 Nippon Telegraph & Telephone Japan 79.0241 29 SBC Communications U.S. 78.4142 42 AstraZeneca Britain 78.3643 44 Time Warner U.S. 77.6444 49 J.P. Morgan Chase U.S. 75.2545 58 Telefónica Spain 72.0846 NR Samsung Electronics Korea 71.0747 NR Gazprom Russia 70.7848 51 Deutsche Telekom Germany 70.5349 30 Amgen U.S. 70.0250 27 Nokia Finland 66.9551 65 3M U.S. 66.2652 39 Fannie Mae U.S. 65.91

53 61 American Express U.S. 65.4154 55 Unilever Neth./Britain 65.3055 53 Hewlett-Packard U.S. 64.8256 47 Comcast U.S. 64.6457 34 Viacom U.S. 64.5358 43 Abbott Laboratories U.S. 64.2759 80 Aventis France 63.6560 78 Siemens Germany 63.1561 114 Genentech U.S. 63.0462 62 Wachovia U.S. 61.9463 99 Tyco International U.S. 61.7264 57 France Télécom France 59.2565 45 Oracle U.S. 59.1866 111 eBay U.S. 58.0867 54 Medtronic U.S. 58.0568 63 Morgan Stanley U.S. 58.0469 69 Barclays Britain 56.9270 NR China Mobile (Hong Kong) China 56.6671 74 BNP Paribas France 55.7272 156 Mitsubishi Tokyo Financial Japan 55.1373 83 Merrill Lynch U.S. 54.5874 76 Banc One U.S. 54.2675 136 Qualcomm U.S. 54.2576 71 U.S. Bancorp U.S. 54.1677 103 BHP Billiton Australia/Brit. 53.1678 67 L’ Oréal France 52.8879 92 News Corp. Australia 52.2480 59 Kraft Foods U.S. 51.4781 98 SAP Germany 50.8782 86 Banco Santander Central Hispano Spain 50.5483 75 HBOS Britain 50.4784 90 ConocoPhillips U.S. 50.1785 636 Mizuho Financial Japan 50.0186 77 Enel Italy 49.6187 64 Bristol-Myers Squibb U.S. 49.1388 68 Sanofi-Synthélabo France 48.4689 93 E.ON Germany 48.1290 56 Wyeth U.S. 48.0491 84 Walt Disney U.S. 48.0092 108 ING Groep Netherlands 46.5893 73 TIM Italy 46.5394 185 Motorola U.S. 46.3095 91 Deutsche Bank Germany 46.0596 66 BellSouth U.S. 45.7197 94 Nissan Motor Japan 45.5298 85 Goldman Sachs Group U.S. 45.3999 115 DaimlerChrysler Germany 45.34

100 96 Texas Instruments U.S. 45.23101 228 LM Ericsson Sweden 45.15102 116 Banco Bilbao Vizcaya Argentaria Spain 44.84103 97 Telefónica Móviles Spain 44.58104 82 Lloyds TSB Group Britain 44.20

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

The BusinessWeek Global 1000

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

Page 2: Global1000 List

July 26, 2004 | BusinessWeek | 71

v02

Distribution: Power; Serrill; Dawson; JespersenLarge: Morrison, Jespersen (3x)CREDITS:

ISSUE DATE: BusinessWeek C M Y KEDIT PASS VERSION: DEPARTMENT: ART DIRECTOR:

DOMESTIC INT EUR ASIA STORY: PRODUCTION:

CLOSE DESK:

7/26/04

3 SPECIAL REPORT

SCOREBOARD

71

361 470 Lafarge France 14.57362 376 Nintendo Japan 14.48363 389 Danaher U.S. 14.48364 270 Inditex Spain 14.42365 NR Cathay Financial Holdings Taiwan 14.33366 585 Symantec U.S. 14.25367 326 Devon Energy U.S. 14.23368 314 Rohm Japan 14.23369 345 T-Online International Germany 14.20370 341 Paychex U.S. 14.16371 368 Ricoh Japan 14.15372 435 Volvo Sweden 14.13373 667 Caremark Rx U.S. 14.11374 297 Wm. Wrigley Jr. U.S. 14.10375 369 Fanuc Japan 14.09376 575 NEC Japan 13.98377 377 Gilead Sciences U.S. 13.98378 353 Power Financial Canada 13.94379 288 Raytheon U.S. 13.90380 313 Svenska Handelsbanken Sweden 13.88381 333 Peugeot France 13.88382 269 Sun Microsystems U.S. 13.87383 NR SK Telecom Korea 13.84384 422 Murata Mfg. Japan 13.78385 358 Kao Japan 13.78386 438 Staples U.S. 13.77387 512 Nippon Steel Japan 13.73388 312 Anadarko Petroleum U.S. 13.72389 515 International Game Technology U.S. 13.61390 406 Toshiba Japan 13.60391 354 Weyerhaeuser U.S. 13.58392 520 Synthes Switzerland 13.51393 362 Scottish Power Britain 13.51394 496 Aeon Japan 13.48395 NR United Microelectronics Taiwan 13.46396 600 Fujitsu Japan 13.46397 316 Compass Group Britain 13.46398 285 Charles Schwab U.S. 13.37399 NR Walmart de Mexico Mexico 13.35400 404 St. Jude Medical U.S. 13.35401 372 Burlington Resources U.S. 13.28402 NR Reliance Industries India 13.22403 442 Interbrew Belgium 13.20404 248 AT&T U.S. 13.16405 336 H.J. Heinz U.S. 13.15406 375 Apache U.S. 13.12407 584 Mitsui Sumitomo Insurance Japan 13.08408 350 KeyCorp U.S. 13.08409 370 Mediaset Italy 13.01410 488 Telenor Norway 12.96411 569 Broadcom U.S. 12.96412 415 Portugal Telecom Portugal 12.93413 396 Shell Canada Canada 12.88414 363 FirstEnergy U.S. 12.86415 391 Pinault-Printemps-Redoute France 12.86416 382 CLP Holdings Hong Kong 12.82417 321 Masco U.S. 12.82418 381 Halliburton U.S. 12.77419 327 Loblaw Canada 12.74420 386 Becton, Dickinson U.S. 12.73421 340 Banco Popular Español Spain 12.73422 360 Chubb U.S. 12.71423 472 Coca-Cola Enterprises U.S. 12.69424 579 JFE Holdings Japan 12.67

425 606 Asahi Glass Japan 12.63426 343 Entergy U.S. 12.61427 397 Xilinx U.S. 12.58428 530 HypoVereinsbank Germany 12.57429 335 Mellon Financial U.S. 12.57430 344 American Electric Power U.S. 12.57431 418 TJX U.S. 12.54432 419 Franklin Resources U.S. 12.51433 308 Kroger U.S. 12.40434 347 Linear Technology U.S. 12.38435 460 Aetna U.S. 12.37436 469 Agilent Technologies U.S. 12.36437 NR Sibneft Russia 12.33438 355 Burlington Northern Santa Fe U.S. 12.26439 277 Allied Irish Banks Ireland 12.26440 306 Southwest Airlines U.S. 12.24441 392 Anthem U.S. 12.23442 364 Kingfisher Britain 12.22443 430 Lexmark International U.S. 12.22444 478 DBS Group Holdings Singapore 12.19445 538 Mitsui & Co. Japan 12.15446 539 Hoya Japan 12.14447 597 TXU U.S. 12.11448 588 SABMiller Britain 12.07449 562 Koninklijke Ahold Netherlands 12.04450 322 Abbey National Britain 12.04451 408 Praxair U.S. 12.03452 NR Norilsk Nickel Russia 12.00453 374 RAS Italy 12.00454 574 Holcim Switzerland 11.97455 593 PG&E U.S. 11.94456 398 United Overseas Bank Singapore 11.92457 581 Porsche Germany 11.91458 303 Bank of Ireland Ireland 11.89459 461 Almanij Belgium 11.89460 319 FPL Group U.S. 11.75461 504 Dai Nippon Printing Japan 11.74462 NR Belgacom Belgium 11.73463 400 Petro-Canada Canada 11.71464 NR Mobile Telesystems Russia 11.70465 429 Allergan U.S. 11.67466 445 Henkel Germany 11.67467 411 ACE U.S. 11.64468 931 ABB Switzerland 11.55469 601 BAE Systems Britain 11.54470 524 Christian Dior France 11.52471 436 Bouygues France 11.51472 431 Hershey Foods U.S. 11.50473 531 Ingersoll-Rand U.S. 11.45474 407 Yamanouchi Pharmaceutical Japan 11.44475 339 Veritas Software U.S. 11.37476 495 Marathon Oil U.S. 11.36477 417 Air Products & Chemicals U.S. 11.36478 432 Marriott International U.S. 11.35479 NR Kookmin Bank Korea 11.35480 356 Baker Hughes U.S. 11.33481 540 AGF France 11.29482 399 Canadian National Railway Canada 11.24483 380 Principal Financial U.S. 11.21484 487 CRH Ireland 11.20485 NR Research In Motion Canada 11.20486 403 SouthTrust U.S. 11.19487 426 Barrick Gold Canada 11.17488 433 WPP Group Britain 11.13

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

233 298 Renault France 21.19234 NR Yukos Russia 21.14235 659 Biogen Idec U.S. 21.12236 261 Avon Products U.S. 20.87237 254 Bayer Germany 20.87238 276 San Paolo-IMI Italy 20.86239 454 Zimmer Holdings U.S. 20.82240 222 AFLAC U.S. 20.74241 192 East Japan Railway Japan 20.74242 232 BB&T U.S. 20.66243 183 Swisscom Switzerland 20.58244 189 Dominion Resources U.S. 20.53245 328 Sun Hung Kai Properties Hong Kong 20.49246 198 Hennes & Mauritz Sweden 20.48247 213 International Paper U.S. 20.35248 280 Stryker U.S. 20.33249 NR Telefonos de Mexico Mexico 20.24250 177 STMicroelectronics France 20.20251 443 EADS France 20.20252 220 Lehman Brothers Holdings U.S. 20.18253 NR Teva Pharmaceutical Industries Israel 20.00254 174 Swiss Re Switzerland 19.97255 252 Nordea Bank Sweden 19.83256 243 Dexia Belgium 19.82257 259 Bank of Montreal Canada 19.77258 206 TeliaSonera Sweden 19.75259 212 Suez France 19.68260 NR Oil & Natural Gas India 19.67261 NR Resona Holdings Japan 19.55262 224 Endesa Spain 19.55263 275 Amazon.com U.S. 19.53264 195 Cox Communications U.S. 19.50265 272 Standard Chartered Britain 19.40266 286 Hartford Financial Services Group U.S. 19.26267 247 Baxter International U.S. 19.26268 274 Reckitt Benckiser Britain 19.05269 279 General Dynamics U.S. 19.01270 225 HCA U.S. 18.98271 317 Denso Japan 18.92272 318 Sharp Japan 18.86273 256 Nike U.S. 18.72274 NR Companhia Vale do Rio Doce Brazil 18.71275 235 Northrop Grumman U.S. 18.66276 338 Alcatel France 18.58277 240 Progressive U.S. 18.56278 180 BCE (Bell Canada Enterprises) Canada 18.49279 366 BOC Hong Kong Hong Kong 18.38280 265 Aegon Netherlands 18.36281 227 SunTrust Banks U.S. 18.35282 217 EnCana Canada 18.33283 267 Analog Devices U.S. 18.27284 237 Iberdrola Spain 18.25285 215 Duke Energy U.S. 18.23286 264 Sara Lee U.S. 18.12287 216 Koninklijke KPN Netherlands 18.07288 245 Central Japan Railway Japan 18.06289 420 Countrywide Financial U.S. 17.98290 273 Electrabel Belgium 17.98291 246 L’ Air Liquide France 17.67292 NR CNOOC China 17.65293 329 Cadbury Schweppes Britain 17.60294 292 Canadian Imperial Bank of Commerce Canada 17.58295 260 Kellogg U.S. 17.48296 266 Cheung Kong Holdings Hong Kong 17.38

297 302 KBC Bancassurance Holding Belgium 17.35298 221 Costco Wholesale U.S. 17.31299 311 WellPoint Health U.S. 17.30300 293 Occidental Petroleum U.S. 17.29301 218 General Mills U.S. 17.26302 331 Newmont Mining U.S. 17.21303 291 Compagnie de Saint-Gobain France 17.17304 205 SLM U.S. 17.16305 307 Best Buy U.S. 17.13306 263 Volkswagen Germany 17.09307 450 Corning U.S. 17.00308 238 Kansai Electric Power Japan 16.94309 295 Harley-Davidson U.S. 16.93310 289 Guidant U.S. 16.88311 390 Ito-Yokado Japan 16.78312 365 Capital One Financial U.S. 16.74313 241 Waste Management U.S. 16.67314 300 Maxim Integrated Products U.S. 16.67315 310 Centrica Britain 16.64316 330 Golden West Financial U.S. 16.55317 334 Norsk Hydro Norway 16.54318 305 Prudential Britain 16.54319 385 CVS U.S. 16.52320 393 Apollo Group U.S. 16.52321 268 Heineken Netherlands 16.32322 309 Novo-Nordisk Denmark 16.31323 294 Imperial Oil Canada 16.29324 301 Sun Life Financial Services Canada 16.27325 296 State Street U.S. 16.24326 281 Imperial Tobacco Group Britain 16.23327 249 Danske Bank Denmark 16.18328 210 Kohl’s U.S. 16.18329 324 Nortel Networks Canada 16.10330 379 Deere U.S. 16.05331 394 Metro Germany 16.02332 416 Starbucks U.S. 16.01333 251 Tribune U.S. 15.94334 373 Great-West Lifeco Canada 15.86335 325 Japan Tobacco Japan 15.82336 255 Alltel U.S. 15.77337 304 Computer Associates International U.S. 15.75338 361 Schneider Electric France 15.71339 384 Kyocera Japan 15.65340 262 Fuji Photo Film Japan 15.64341 498 Mitsubishi Estate Japan 15.63342 NR Chunghwa Telecom Taiwan 15.63343 271 PNC Financial Svcs. U.S. 15.62344 456 mmO2 Britain 15.50345 258 Chubu Electric Power Japan 15.47346 236 EchoStar Communications U.S. 15.39347 446 Lucent Technologies U.S. 15.27348 405 Mitsubishi Corp. Japan 15.24349 283 Omnicom Group U.S. 15.22350 395 Electronic Arts U.S. 15.19351 383 GUS Britain 15.11352 287 ConAgra Foods U.S. 15.10353 242 Union Pacific U.S. 15.10354 814 Softbank Japan 14.94355 323 McGraw-Hill U.S. 14.91356 371 Marks & Spencer Britain 14.88357 409 Alcan Canada 14.81358 476 Compagnie Financière Richemont Switzerland 14.79359 290 Shin-Etsu Chemical Japan 14.76360 352 Bridgestone Japan 14.70

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617 583 Quest Diagnostics U.S. 8.93618 561 Pernod Ricard France 8.91619 647 Eaton U.S. 8.87620 740 abertis infraestructuras Spain 8.86621 666 Nippon Oil Japan 8.85622 648 Arcelor France 8.83623 616 CEPSA Spain 8.83624 589 Sandvik Sweden 8.83625 890 Orix Japan 8.82626 576 Autoroutes du Sud de la France (ASF) France 8.80627 624 Wolseley Britain 8.77628 NR Shinsei Bank Japan 8.75629 710 Sankyo Japan 8.75630 582 Suzuki Motor Japan 8.73631 663 Starwood Hotels & Resorts U.S. 8.72632 497 Aon U.S. 8.70633 816 Sompo Japan Insurance Japan 8.68634 440 Vodafone Holdings K.K. Japan 8.67635 NR Standard Bank Investment South Africa 8.63636 630 Groupe Bruxelles Lambert Belgium 8.63637 610 Federated Department Stores U.S. 8.63638 NR Indian Oil India 8.61639 557 E.W. Scripps U.S. 8.60640 533 Altera U.S. 8.60641 692 Thyssen Krupp Germany 8.60642 674 Lagardere France 8.60643 499 Albertson’s U.S. 8.60644 551 Rohm & Haas U.S. 8.59645 537 H&R Block U.S. 8.57646 523 Transocean U.S. 8.57647 684 Swatch Group Switzerland 8.54648 612 UnionBanCal U.S. 8.54649 NR FirstRand South Africa 8.53650 NR Nan Ya Plastics Taiwan 8.52651 NR Telekom Malaysia Malaysia 8.51652 490 Woolworths Ltd. Australia 8.50653 632 Lincoln National U.S. 8.49654 811 Toppan Printing Japan 8.47655 769 ASML Holding Netherlands 8.46656 NR PetroChina China 8.46657 NR LG Electronics Korea 8.44658 NR China Steel Taiwan 8.44659 509 Regions Financial U.S. 8.44660 629 Chugai Pharmaceutical Japan 8.43661 528 Bear Stearns U.S. 8.41662 845 Valero Energy U.S. 8.40663 483 Chiron U.S. 8.39664 NR AU Optronics Taiwan 8.39665 402 George Weston Canada 8.37666 NR Bank Austria Creditanstalt Austria 8.36667 NR Rakuten Japan 8.34668 623 May Department Stores U.S. 8.34669 754 Promise Japan 8.33670 862 DnB NOR Norway 8.31671 518 Kyushu Electric Power Japan 8.28672 521 Accor France 8.27673 517 Snam Rete Gas Italy 8.24674 550 Equity Residential U.S. 8.20675 559 NTT Data Japan 8.20676 508 Tohoku Electric Power Japan 8.19677 708 American Standard U.S. 8.18678 527 Computer Sciences U.S. 8.17679 822 Coach U.S. 8.14680 812 Sumitomo Corp. Japan 8.14

681 608 Electricidade de Portugal (EDP) Portugal 8.13682 650 VINCI France 8.13683 622 BOC Group Britain 8.12684 421 Sears, Roebuck U.S. 8.08685 NR CNP Assurances France 8.05686 NR Telekomunikasi Indonesia Indonesia 8.04687 535 Ameren U.S. 8.02688 NR Anglo American Platinum South Africa 8.02689 599 SunGard Data Systems U.S. 8.01690 591 Gallaher Group Britain 8.01691 547 MBIA U.S. 8.00692 NR Xstrata Britain 7.98693 568 St. George Bank Australia 7.94694 736 CIT Group U.S. 7.94695 NR Fubon Financial Holding Taiwan 7.93696 413 Electronic Data Systems U.S. 7.92697 639 Dover U.S. 7.92698 759 Henderson Land Development Hong Kong 7.89699 709 Edison International U.S. 7.87700 NR Tenaga Nasional Malaysia 7.86701 690 SMC Japan 7.86702 560 Ecolab U.S. 7.85703 564 Synovus Financial U.S. 7.84704 NR Wipro India 7.81705 977 Fast Retailing Japan 7.78706 675 Talisman Energy Canada 7.78707 804 National Semiconductor U.S. 7.77708 NR M-Cell South Africa 7.76709 620 Cintas U.S. 7.76710 725 Investor Sweden 7.75711 745 Woodside Petroleum Australia 7.74712 425 Intuit U.S. 7.73713 635 Eisai Japan 7.70714 NR NEC Electronics Japan 7.69715 935 National Bank of Greece Greece 7.69716 825 Hilton Group Britain 7.69717 NR Sberbank (Savings Bank of the Russian Fed.) Russia 7.68718 546 West Japan Railway Japan 7.67719 898 Royal Caribbean Cruises U.S. 7.67720 806 Sumitomo Chemical Japan 7.67721 611 Magna International Canada 7.66722 555 PPL U.S. 7.65723 738 Husky Energy Canada 7.64724 646 MTR Hong Kong 7.64725 705 Banco Comercial Português (BCP) Portugal 7.64726 631 Power Corp. of Canada Canada 7.63727 NR Infosys Technologies India 7.61728 637 Wesfarmers Australia 7.59729 678 Sempra Energy U.S. 7.58730 502 AutoZone U.S. 7.57731 680 Pepsi Bottling Group U.S. 7.53732 749 Atlas Copco Sweden 7.53733 784 Textron U.S. 7.52734 683 United Utilities Britain 7.49735 NR Mega Financial Holding Taiwan 7.49736 452 Eastman Kodak U.S. 7.49737 428 Mattel U.S. 7.49738 556 Ambac Financial U.S. 7.47739 NR Dreyer’s Grand Ice Cream Holdings U.S. 7.46740 580 Singapore Airlines Singapore 7.45741 628 Kinder Morgan U.S. 7.44742 829 AMP Ltd. Australia 7.44743 668 ITT Industries U.S. 7.43744 727 Coles Myer Australia 7.40

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

489 315 Bed Bath & Beyond U.S. 11.11490 NR Unified Energy System of Russia Russia 11.11491 729 Juniper Networks U.S. 11.10492 751 Wm. Morrison Supermarkets Britain 11.09493 NR Hon Hai Precision Industries Taiwan 11.05494 516 Fortune Brands U.S. 11.01495 410 Clorox U.S. 11.00496 480 Yum! Brands U.S. 10.92497 NR Autostrade Italy 10.90498 NR PTT Thailand 10.89499 447 Scottish & Southern Energy Britain 10.89500 489 Xerox U.S. 10.84501 357 Equity Office Properties U.S. 10.82502 479 Suncor Energy Canada 10.80503 437 Gas Natural SDG Spain 10.79504 378 Schering Germany 10.78505 511 Archer Daniels Midland U.S. 10.78506 482 M&T Bank U.S. 10.77507 441 Veolia Environnement France 10.76508 473 TPG Netherlands 10.73509 427 Stora Enso Finland 10.72510 739 Acom Japan 10.72511 NR POSCO Korea 10.69512 367 Loews U.S. 10.69513 465 BAA Britain 10.67514 484 Adobe Systems U.S. 10.65515 492 Keyence Japan 10.62516 434 Legal & General Group Britain 10.61517 658 Merck KGAA Germany 10.58518 633 Mitsubishi Electric Japan 10.57519 558 Simon Property U.S. 10.53520 577 Univision Communications U.S. 10.52521 387 Campbell Soup U.S. 10.49522 348 Progress Energy U.S. 10.48523 604 Apple Computer U.S. 10.46524 513 Estée Lauder U.S. 10.40525 NR Sasol South Africa 10.36526 332 XL Capital U.S. 10.30527 541 Akzo Nobel Netherlands 10.29528 552 Biomet U.S. 10.26529 481 PPG Industries U.S. 10.26530 439 Pitney Bowes U.S. 10.25531 NR Korea Electric Power (KEPCO) Korea 10.23532 NR T&D Holdings Japan 10.16533 525 Skandinaviska Enskilda Banken Sweden 10.15534 686 Nikko Cordial Japan 10.13535 485 Takefuji Japan 10.13536 603 Infineon Technologies Germany 10.07537 477 Safeway U.S. 10.06538 NR CEMEX Mexico 10.03539 449 McKesson U.S. 10.02540 424 Serono Switzerland 10.00541 NR Companhia de Bebidas das Americas (AmBev) Brazil 9.99542 627 Land Securities Britain 9.99543 NR University of Phoenix Online U.S. 9.98544 412 Public Service Enterprise Group U.S. 9.97545 545 Tokyo Electron Japan 9.97546 388 Genzyme U.S. 9.93547 451 Tokyo Gas Japan 9.92548 491 Comerica U.S. 9.91549 586 Fortum Finland 9.84550 860 Mizuho Trust & Banking Japan 9.82551 571 Charter One Financial U.S. 9.81552 526 FöreningsSparbanken Sweden 9.81

553 626 Commerzbank Germany 9.80554 679 Smith & Nephew Britain 9.79555 522 Pearson Britain 9.78556 791 J.C. Penney U.S. 9.77557 514 Paccar U.S. 9.77558 532 Johnson Controls U.S. 9.74559 501 Moody’s U.S. 9.72560 463 J. Sainsbury Britain 9.71561 468 TransCanada Canada 9.70562 NR Malayan Banking Malaysia 9.66563 536 Kirin Brewery Japan 9.61564 500 Cigna U.S. 9.59565 NR China Unicom China 9.59566 849 Reuters Group Britain 9.57567 337 Beiersdorf Germany 9.56568 NR Genworth Financial U.S. 9.55569 NR KT Korea 9.54570 NR Medco Health Solutions U.S. 9.49571 NR Hyundai Motor Korea 9.47572 466 Norfolk Southern U.S. 9.46573 414 Consolidated Edison U.S. 9.46574 457 KLA-Tencor U.S. 9.46575 471 Northern Trust U.S. 9.45576 652 TDK Japan 9.45577 464 Boots Group Britain 9.43578 505 Casino, Guichard-Perrachon France 9.42579 641 Swire Pacific Hong Kong 9.38580 902 Aiful Japan 9.38581 543 UPM-Kymmene Finland 9.37582 553 Secom Japan 9.35583 510 Unocal U.S. 9.33584 656 Daiwa Securities Group Japan 9.33585 619 Allied Domecq Britain 9.31586 529 Associated British Foods Britain 9.30587 618 Man Group Britain 9.30588 NR AngloGold Ashanti South Africa 9.29589 695 Flextronics International U.S. 9.28590 714 Nitto Denko Japan 9.28591 737 Erste Bank Austria 9.26592 444 Banca Monte dei Paschi di Siena Italy 9.26593 458 ALTANA Germany 9.22594 462 Alleanza Assicurazioni Italy 9.22595 NR Banco Itaú Brazil 9.18596 572 Micron Technology U.S. 9.16597 578 Marshall & Ilsley U.S. 9.14598 716 Monsanto U.S. 9.14599 573 OCBC Bank Singapore 9.11600 493 Svenska Cellulosa Aktiebolaget Sweden 9.09601 760 Mitsui Fudosan Japan 9.09602 839 Georgia-Pacific U.S. 9.09603 567 Washington Post U.S. 9.08604 NR ITV Britain 9.05605 NR Elan Ireland 9.05606 870 Sumitomo Trust & Banking Japan 9.05607 554 Hong Kong & China Gas Hong Kong 9.02608 467 Hongkong Electric Holdings Hong Kong 9.01609 494 Limited Brands U.S. 8.99610 NR Copec Chile 8.99611 503 AmSouth Bancorporation U.S. 8.99612 565 Adecco Switzerland 8.99613 549 Mitsubishi Heavy Industries Japan 8.97614 507 Mediobanca Italy 8.97615 459 Altadis Spain 8.95616 671 Syngenta Switzerland 8.94

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873 857 Cathay Pacific Airways Hong Kong 6.20874 924 Marvell Technology U.S. 6.19875 883 Williams U.S. 6.18876 820 Daikin Industries Japan 6.18877 651 UST U.S. 6.18878 783 Laboratory Corp. of America U.S. 6.17879 873 Kintetsu Japan 6.16880 885 Matsushita Electric Works Japan 6.16881 765 Shizuoka Bank Japan 6.15882 605 Electrolux Sweden 6.15883 NR Alpha Bank Greece 6.15884 NR OPAP Greece 6.13885 595 Nabors Industries U.S. 6.13886 NR Continental Germany 6.12887 NR Banco Bradesco Brazil 6.11888 991 Daiwa House Industry Japan 6.09889 802 Torchmark U.S. 6.09890 NR NOK Japan 6.09891 734 Express Scripts U.S. 6.07892 819 T. Rowe Price U.S. 6.06893 941 Inco Canada 6.04894 NR Banco Popolare di Verona e Novara Italy 6.04895 781 Centex U.S. 6.03896 758 Bombardier Canada 6.02897 712 Interpublic Group U.S. 6.01898 807 Murphy Oil U.S. 6.00899 837 Legg Mason U.S. 6.00900 961 Komatsu Japan 6.00901 892 The British Land Company Britain 6.00902 660 Knight-Ridder U.S. 5.99903 711 Mylan Laboratories U.S. 5.98904 448 MedImmune U.S. 5.97905 653 Deutsche Börse Germany 5.97906 NR MediaTek Taiwan 5.97907 NR Freeport-McMoRan Copper & Gold U.S. 5.95908 989 QBE Insurance Australia 5.94909 682 Westfield Holdings Australia 5.93910 NR Check Point Software Technologies Israel 5.92911 981 Coca-Cola HBC Greece 5.92912 810 AES U.S. 5.91913 927 Nippon Express Japan 5.91914 NR CDW U.S. 5.91915 661 GlobalSantaFe U.S. 5.89916 756 Thales France 5.87917 832 IMS Health U.S. 5.85918 NR OTP Bank Hungary 5.84919 722 TELUS Canada 5.84920 NR Grupo ACS Spain 5.84921 895 Publishing & Broadcasting Australia 5.83922 698 Brown-Forman U.S. 5.83923 744 Safeco U.S. 5.83924 966 C.R. Bard U.S. 5.83925 NR Malaysia International Shipping Malaysia 5.82926 NR China Development Financial Holding Taiwan 5.82927 NR Gold Fields South Africa 5.81928 766 ProLogis U.S. 5.81929 NR SK Networks Korea 5.80930 952 Public Power Greece 5.80931 916 Japan Airlines Japan 5.79932 NR UnitedGlobalCom U.S. 5.78933 655 First Horizon National U.S. 5.78934 NR Mitsui O.S.K. Lines Japan 5.75935 NR Fuji Television Network Japan 5.74936 717 Popular U.S. 5.74

937 761 Plum Creek Timber U.S. 5.74938 853 Banca Antonveneta Italy 5.72939 818 Harrah’s Entertainment U.S. 5.72940 746 Shionogi & Co. Japan 5.72941 748 Delphi U.S. 5.71942 732 Publicis France 5.69943 607 Union Planters U.S. 5.69944 841 Archstone-Smith Trust U.S. 5.69945 863 Jabil Circuit U.S. 5.68946 930 Varian Medical Systems U.S. 5.68947 691 KeySpan U.S. 5.66948 NR Bharti Tele-Ventures India 5.65949 794 National Bank of Canada Canada 5.65950 861 Banknorth Group U.S. 5.63951 878 Sherwin-Williams U.S. 5.63952 848 Hanson Britain 5.63953 594 Seagate Technology U.S. 5.62954 703 Banca Fideuram Italy 5.61955 771 Willis Group Holdings U.S. 5.60956 NR Tokyu Japan 5.60957 707 Northern Rock Britain 5.59958 NR ImClone Systems U.S. 5.58959 NR Asustek Computer Taiwan 5.58960 923 Grupo Ferrovial Spain 5.58961 NR Sanmina-SCI U.S. 5.57962 NR Nordstrom U.S. 5.57963 971 Insurance Australia Australia 5.56964 NR Remgro South Africa 5.56965 742 MeadWestvaco U.S. 5.55966 486 Tenet Healthcare U.S. 5.55967 750 Nationwide Financial U.S. 5.55968 899 Dean Foods U.S. 5.54969 982 COSMOTE Greece 5.53970 NR Maxis Communications Malaysia 5.53971 NR Mitsubishi Securities Japan 5.53972 987 Omron Japan 5.52973 NR Mitsui Trust Holdings Japan 5.50974 693 Weatherford International U.S. 5.50975 793 Zions Bancorp. U.S. 5.50976 990 Waters U.S. 5.50977 934 Nippon Unipac Holding Japan 5.49978 NR Advanced Micro Devices U.S. 5.48979 831 Sampo Finland 5.45980 800 Siebel Systems U.S. 5.44981 957 Dixons Group Britain 5.44982 649 Seibu Railway Japan 5.43983 768 Amvescap Britain 5.43984 900 adidas-Salomon Germany 5.42985 NR Bank Pekao Poland 5.42986 909 Orkla Norway 5.42987 NR Telekomunikacja Polska Poland 5.42988 876 Deutsche Lufthansa Germany 5.41989 NR MAN Germany 5.40990 NR Asahi Breweries Japan 5.40991 896 Cable & Wireless Britain 5.40992 621 Family Dollar Stores U.S. 5.40993 NR State Bank of India India 5.39994 NR Sumitomo Metal Industries Japan 5.39995 NR SK Corp. Korea 5.37996 763 Thomson SA France 5.37997 882 Rockwell Collins U.S. 5.36998 854 Natexis Banques Populaires France 5.35999 790 Cheung Kong Infrastructure Hong Kong 5.35

1000 NR CITIC Pacific China 5.34

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

RANK MARKET VALUE2004 2003 Billions of U.S. Dollars

745 706 Sekisui House Japan 7.40746 602 Ajinomoto Japan 7.36747 613 FIserv U.S. 7.36748 NR Edison Italy 7.34749 681 Luxottica Group Italy 7.32750 645 Sanyo Electric Japan 7.32751 548 VNU Netherlands 7.31752 677 Hermès International France 7.30753 614 TDC Denmark 7.30754 726 Canadian Natural Resources Canada 7.26755 NR Tyson Foods U.S. 7.23756 643 Fujisawa Pharmaceutical Japan 7.21757 704 MGIC Investment U.S. 7.20758 644 Cincinnati Financial U.S. 7.19759 642 Jefferson-Pilot U.S. 7.18760 640 Smiths Group Britain 7.16761 676 Heineken Holding Netherlands 7.16762 NR Konica Minolta Holdings Japan 7.15763 776 Sumitomo Electric Industries Japan 7.11764 592 Wella Germany 7.11765 753 Toyota Industries Japan 7.10766 877 Asahi Kasei Japan 7.09767 728 Michelin France 7.07768 719 InterContinental Hotels Britain 7.06769 913 Dentsu Japan 7.05770 834 Lennar U.S. 7.04771 859 EFG Eurobank Ergasias Greece 7.03772 544 New York Times U.S. 7.01773 590 Alliance & Leicester Britain 6.99774 NR America Telecom Mexico 6.99775 689 Telekom Austria Austria 6.98776 542 DTE Energy U.S. 6.97777 701 Scottish & Newcastle Britain 6.97778 NR Avaya U.S. 6.94779 NR Rolls-Royce Group Britain 6.94780 752 Taisho Pharmaceutical Japan 6.91781 778 Brambles Industries Australia/Brit. 6.90782 847 Oji Paper Japan 6.89783 741 Yamato Transport Japan 6.88784 665 Network Appliance U.S. 6.88785 787 Wharf Holdings Hong Kong 6.88786 654 3i Group Britain 6.87787 596 Solvay Belgium 6.84788 782 Groupe UCB Belgium 6.84789 NR Formosa Plastics Taiwan 6.81790 NR Career Education U.S. 6.81791 563 CSX U.S. 6.80792 657 Degussa Germany 6.79793 879 Brascan Canada 6.79794 757 Hudson City Bancorp U.S. 6.79795 912 Advantest Japan 6.78796 796 Next Britain 6.78797 NR Old Mutual South Africa 6.78798 638 Xcel Energy U.S. 6.78799 699 IGM Financial Canada 6.77800 813 Tostem Inax Holding Japan 6.77801 587 CINergy U.S. 6.73802 NR Seiko Epson Japan 6.73803 566 AmerisourceBergen U.S. 6.73804 928 D.R. Horton U.S. 6.72805 901 NIDEC Japan 6.72806 869 L-3 Communications U.S. 6.71807 696 CNA Financial U.S. 6.71808 735 Westfield Trust Australia 6.70

809 609 BJ Services U.S. 6.70810 519 Qwest Communications U.S. 6.69811 893 Pulte Homes U.S. 6.69812 NR Telkom South Africa 6.69813 617 TF1 Télévision Francaise 1 France 6.67814 850 Sovereign Bancorp U.S. 6.66815 NR ITOCHU Japan 6.65816 NR Hindustan Lever India 6.64817 673 Fosters Group Australia 6.64818 713 Hellenic Telecommunications Greece 6.64819 789 National Commerce Financial U.S. 6.64820 840 Fresenius Medical Care Germany 6.63821 773 Parker Hannifin U.S. 6.62822 720 Hilton Hotels U.S. 6.62823 670 Telecom Corp. of New Zealand New Zealand 6.61824 786 Microchip Technology U.S. 6.60825 702 North Fork Bancorporation U.S. 6.59826 874 Essilor International France 6.59827 NR R.R. Donnelley & Sons U.S. 6.57828 672 Genuine Parts U.S. 6.57829 625 Dollar General U.S. 6.53830 733 PeopleSoft U.S. 6.52831 687 Avery Dennison U.S. 6.52832 785 Vornado Realty Trust U.S. 6.52833 797 Unión Fenosa Spain 6.50834 827 Placer Dome Canada 6.49835 NR Chi Mei Optoelectronics Taiwan 6.49836 958 Capitalia Italy 6.48837 506 Newell Rubbermaid U.S. 6.48838 965 XTO Energy U.S. 6.46839 NR Kubota Japan 6.45840 NR Advanced Info Service (AIS) Thailand 6.45841 842 Fiat Group Italy 6.43842 694 Constellation Energy Group U.S. 6.43843 634 Affiliated Computer Services U.S. 6.41844 955 General Growth Properties U.S. 6.40845 NR Formosa Chemicals & Fibre Taiwan 6.39846 NR Siam Cement Group Thailand 6.39847 598 Osaka Gas Japan 6.37848 NR Phelps Dodge U.S. 6.35849 685 Tele2 Sweden 6.35850 669 Finmeccanica Italy 6.34851 828 Amerada Hess U.S. 6.34852 NR Grupo Televisa Mexico 6.34853 844 MGM Mirage U.S. 6.33854 830 Rockwell Automation U.S. 6.33855 662 Enbridge Canada 6.33856 917 Bank of Yokohama Japan 6.33857 NR Chinatrust Financial Holdings Taiwan 6.32858 919 New York Community Bancorp U.S. 6.32859 NR Toray Industries Japan 6.30860 929 Jardine Matheson Holdings Hong Kong 6.30861 NR China Petroleum & Chemical (Sinopec) China 6.30862 843 Cablevision Systems U.S. 6.29863 852 Public Storage U.S. 6.29864 985 Banco Sabadell Spain 6.23865 866 Oracle Corp. Japan Japan 6.23866 903 Linde Germany 6.22867 664 Chugoku Electric Power Japan 6.22868 774 Scania Sweden 6.22869 NR Quanta Computer Taiwan 6.22870 915 Fidelity National Financial U.S. 6.21871 747 EOG Resources U.S. 6.21872 867 Oriental Land Japan 6.21

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