SOUTHFIELD, Mich., July 3 /PRNewswire-FirstCall/ -- Ramco-Gershenson
Properties Trust (NYSE: RPT) announced today that the Company has been added
as a member of the Russell 3000(R) Index effective July 1, 2002, as a result
of the reconstitution of the Frank Russell Company's family of U.S. indexes.
Membership in the Russell 3000, which remains in place for one year, means
automatic inclusion in either the small-cap Russell 2000(R) Index or large-cap
Russell 1000(R) Index as well as related style indexes.
"We are delighted to be included in the Russell family of indexes," said
Dennis Gershenson, President and Chief Executive Officer. "This is major
accomplishment for Ramco-Gershenson and caps an eventful first six months of
2002. It is also an important milestone in increasing awareness and interest
in our Company within the investment community."
Membership in Russell's 21 U.S. equity indexes is determined by market
capitalization rankings and style attributes rather than by subjective opinion
or committee decisions. Russell indexes are widely used by managers for index
funds and as benchmarks for both passive and active investment strategies.
About $250 billion is invested in index funds based on Russell's indexes and
an additional $850 billion is benchmarked to them. Investment managers who
oversee these funds purchase shares of member stocks according to that
company's weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest
U.S. stocks as of the end of May, ranking them by total market capitalization
to create the Russell 3000. The largest 1,000 companies in the ranking
comprise the Russell 1000 Index while the remaining 2,000 companies become the
widely used Russell 2000 Index.
Ramco-Gershenson Properties Trust has a portfolio of 59 shopping centers
totaling approximately 11.4 million square feet of gross leasable area,
consisting of 58 community centers, of which nine are power centers and three
are single tenant properties, as well as one enclosed regional mall. Our
centers are located in Michigan, Ohio, Wisconsin, New Jersey, Maryland,
Virginia, North Carolina, South Carolina, Tennessee, Georgia, Alabama and
Florida. Headquartered in Southfield, Michigan, the Trust is a fully
integrated, self-administered, publicly-traded real estate investment trust
(REIT) which owns, develops, acquires, manages and leases community shopping
centers, regional malls and single tenant retail properties, nationally.
For more information on Ramco-Gershenson Properties Trust visit our
Website @ http://www.ramcogershenson.com .
SOURCE Ramco-Gershenson Properties Trust
 back to top
Related links:
http://www.ramcogershenson.com
CONTACT:
Dennis Gershenson, President & CEO, or
Richard Smith, CFO, both of Ramco-Gershenson Properties Trust,
+1-248-350-9900, fax, +1-248-350-9925
|
