DOW JONES TRANSPORTATION AVERAGE

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1 DOW JONES TRANSPORTATION AVERAGE Historical Divisor Changes 1/8/ Landstar System Inc paid a special dividend of $1.00 a share. 10/1/ Avis Budget Group Inc. (NASDAQ:CAR) replaces GATX Corp. (NYSE:GMT) 7/10/ Alaska Air Group Inc. stock split 2 for 1. 6/9/ Union Pacific Corp stock split 2 for 1. 12/24/ Landstar System Inc paid a special dividend of $0.35 a share. 11/1/ Kirby Corp. replaces Overseas Shipholding Group Inc. 7/2/ Alexander & Baldwin Holdings Inc. spun off Alexander & Baldwin Inc. and Alexander & Baldwin Holdings Inc. changed its name to Matson Inc. 3/19/ Alaska Air Group Inc. stock split 2 for 1. 12/2/ Alaska Air Group Inc. replaces AMR Corporation. 6/16/ CSX Corporation (NYSE: CSX) is to have a 3 for 1 stock split. 10/1/ UAL Corporation acquired Continental Airlines Inc. and changed its name to United Continental Holdings Inc. CAL was replaced by the successor company United Continental Holdings Inc. 02/16/ Kansas City Southern Railway replaces Burlington Northern Santa Fe Corporation. 12/11/ Delta Airlines Inc. replaces YRC Worldwide Inc. 5/29/ Union Pacific Corporation stock split 2 for 1. 8/16/ CSX Corporation stock split 2 for 1. 6/26/ Expeditors International of Washington Incorporated stock split 2 for 1. 12/27/ JetBlue Airways Corporation stock split 3 for 2. 10/17/ C.H Robinson Worldwide Incorporated stock split 2 for 1. 9/19/ JetBlue Airways Corporation and Overseas Shipholding Group Incorporated replaced Delta Airlines Incorporated and Northwest Airlines Corporation. 5/24/ Landstar System Incorporated replaced USF Corporation which was acquired by Yellow Roadway Corporation. 12/12/ C.H. Robinson Worldwide Incorporated and Yellow Roadway Corporation replaced Roadway Corporation and Yellow Corporation. 9/2/ J.B. Hunt Transport Services Incorporated stock split 2 for 1. 8/18/ Expeditors International of Washington Incorporated replaced Airborne Incorporated. 12/6/ United Parcel Service Incorporated (Class B) replaced UAL Corporation.

2 10/1/ Yellow Corporation spun off SCS Transportation Inc. Shareholders will receive.50 shares of SCS Transporation. 8/13/ Continental Airlines Incorporated (Class B) replaced US Airways Group Incorporated. 2/16/ Southwest Airlines Company stock split 3 for 2. 3/16/ AMR Corporation distributed shares of Sabre Holdings Corporation. A share for each share held. 7/20/ Southwest Airlines Company stock split 3 for 2. 5/7/ FDX Corporation stock split 2 for 1. 11/17/ Delta Air Lines stock split 2 for 1. 10/7/ J.B. Hunt Transport Services Incorporated and Northwest Airlines Corporation replaced Alaska Air Group Incorporated and XTRA Corporation. 9/2/ Burlington Northern Santa Fe Corporation stock split 3 for 1. 8/21/ Southwest Airlines Company stock split 3 for 2. 6/10/ AMR Corporation stock split 2 for 1. 6/2/ GATX Corporation stock split 2 for 1. 3/23/ GATX Corporation replaced Illinois Central Corporation. 2/17/ Airborne Freight Corporation stock split 2 for 1. 1/27/ Roadway Express Incorporated replaced Caliber System Incorporated. 11/28/ Southwest Airlines Company stock split 3 for 2. 11/13/ Alexander & Baldwin Incorporated replaced APL Ltd. 10/10/ Norfolk Southern Corporation stock split 3 for 1. 6/3/ USFreightways Corporation replaced Consolidated Rail Corporation. 12/3/ Consolidated Freightways Incorporated distributed 1/2 share of Consolidated Freightways Corporation stock for each share of Consolidated Freightways Incorporated. 11/5/ Federal Express Corporation stock split 2 for 1. 10/16/ Union Pacific Corporation distributed of a share of Union Pacific Resources Group Incorporated for each share of Union Pacific Corporation. 5/21/ UAL Corporation stock split 4 for 1. 3/15/ Illinois Central Corporation stock split 3 for 2. 1/16/ Caliber System Incorporated distributed 1/2 share of Roadway Express Incorporated for each share of Caliber System. 12/22/ CSX Corporation stock split 2 for 1. 9/22/ Illinois Central Corporation and Burlington Northern Santa Fe Corporation replaced Burlington Northern and Santa Fe Southern Pacific Corporation. 8/8/ Yellow Corporation replaced Worldway Corporation.

3 10/3/ Santa Fe Pacific Corporation distributed of a share of Santa Fe Pacific Gold Corporation for each share of Santa Fe Pacific Corporation. 7/14/ UAL Corporation (new) replaced UAL Corporation (old). 1/31/ American President Companies Limited stock split 2 for 1. 12/15/ Ryder System Incorporated distributed 1/4 of a share of Aviall Incorporated stock for each share of Ryder System. 7/16/ Southwest Airlines Company stock split 3 for 2. 5/19/ Xtra Corporation stock split 2 for 1. 9/16/ Consolidated Rail Corporation stock split 2 for 1. 7/16/ Southwest Airlines Company stock split 2 for 1. 10/2/ Union Pacific Corporation stock split 2 for 1. 1/14/ Roadway Services Incorporated replaced Pan Am Corporation. 12/5/ Santa Fe Pacific Corporation distributed 1 share of Catellus Development Corporation for each 4 shares of Santa Fe Pacific held and 1 share of Santa Fe Energy Resources Incorporated, for each shares of Santa Fe Pacific Corporation. 8/30/ Southwest Airlines Company stock split 3 for 2. 5/31/ Airborne Freight Corporation stock split 2 for 1. 7/27/ Airborne Freight Corporation replaced NWA Incorporated. 2/3/ Alaska Air Group Incorporated replaced Tiger International. 1/3/ Burlington Northern Incorporated spun off Burlington Resources. 10/25/ Tiger International replaced Trans World Airlines. 10/10/ XTRA Corporation replaced Canadian Pacific Railway Corporation. 3/17/ Santa Fe Southern Pacific Corporation distributed $5 P/A of 16% debentures. 2/17/ Santa Fe Southern Pacific Corporation paid a special dividend of $25 a share. 11/5/ Southwest Airlines Company replaced Piedmont Aviation. 6/29/ Consolidated Rail Corporation replaced Leaseway Transportation Company. 4/7/ Norfolk Southern Corporation stock split 3 for 1. 12/17/ Ryder System Incorporated replaced Overnite Transportation Company. 11/28/ Piedmont Aviation replaced Eastern Airlines. 6/3/ Consolidated Freightways Incorporated stock split 3 for 2. 3/3/ Overnite Transportation Company stock split 2 for 1. 12/30/ Leaseway Transportation Company replaced Transway International. 6/10/ Canadian Pacific Limited stock split 3 for 1. 5/30/ American President Company stock split 3 for 2.

4 11/21/ American President Company Limited and NWA Incorporated replaced Northwest Airlines and Rio Grande Industries. 7/26/ Consolidated Freightways Incorporated stock split 2 for 1. 2/27/ Burlington Northern Incorporated stock split 2 for 1. 2/2/ Trans World Airlines replaced its former parent Trans World Corporation. 12/28/ Federal Express Corporation and Santa Fe Southern Pacific Corporation replaced Santa Fe Industries Incorporated and Southern Pacific Company. 10/26/ CSX Corporation stock split 3 for 1. 7/1/ Southern Pacific Company stock split 2 for 1. 6/10/ Carolina Freight Corporation stock split 2 for 1. 5/18/ Overnite Transportation Company stock split 2 for 1. 12/27/ US Air Incorporated replaced Missouri Pacific Corporation. 6/2/ Carolina Freight Corporation, Norfolk Southern Corporation and Rio Grande Industries replaced McLean Trucking, Norfolk & Western Railway and Southern Railway. 12/1/ Delta Air Lines stock split 2 for 1. 6/1/ Santa Fe Industries stock split 3 for 1. 5/20/ Overnite Transportation stock split 2 for 1. 11/28/ Overnite Transportation Company replaced St. Louis-San Francisco Railway. 11/5/ Delta Airlines Incorporated and CSX Corporation replaced Chessie System Incorporated and Seaboard Coast Line Industries Incorporated. 6/30/ Burlington Northern Incorporated stock split 2 for 1. 5/12/ Union Pacific Corporation stock split 2 for 1. 2/16/ Union Pacific Corporation stock split 2 for 1. 10/27/ Norfolk & Western Railway Company stock split 3 for 1. 8/2/ McLean Trucking Company stock split 2 for 1. 1/2/ Mississippi River Corporation replaced Pennsylvania Central Railroad. 12/30/ Chessie System Incorporated stock split 2 for 1. 7/10/ Southern Railway stock split 2 for 1. 5/30/ Consolidated Freightways stock split 2 for 1. 2/14/ McLean Trucking stock split 2 for 1. 12/2/ McLean Trucking replaced Pacific Intermountain Express Company. 10/1/ Canadian Pacific stock split 5 for 1. 6/3/ Chesapeake & Ohio Railway replaced Louisville & Nashville Railroad. 3/4/ Burlington Northern Incorporated replaced Great Northern Railway.

5 1/2/ The Dow Jones average of 20 railroad stocks was modified to include other forms of transportation. The transportation average, as it will be known henceforth, is a continuation of the railroad average, except that nine railroad stocks have been deleted and replaced by nine other transportation securities. 10/2/ Illinois Central Industries Incorporated stock split 3 for 2. 8/28/ Florida East Coast Railway replaced Chicago, Milwaukee, St. Paul & Pacific Railroad. 6/9/ Northwest Industries Incorporated stock split 3 for 1. 5/1/ Rio Grande Industries Incorporated replaced Denver & Rio Grande Western Railroad. 7/2/ Chicago, Milwaukee, St. Paul & Pacific Railroad replaced Delaware & Hudson Company. 3/28/ Northwest Industries Incorporated replaced Chicago & Northwestern Railway. 2/1/ Missouri Pacific Railway (Class A shares) and Pennsylvania Central Railroad replaced New York Central Railroad and Pennsylvania Railroad. 7/3/ Gulf, Mobile & Ohio Railroad and Seaboard Coast Line Industries Incorporated replaced Atlantic Coast Line Railroad and Seaboard Air Line Railroad. 4/24/ Illinois Central Industries Incorporated stock split 2 for 1. 10/14/ Denver & Rio Grande Western Railroad, Seaboard Air Line Railroad and Western Pacific Railroad replaced Baltimore & Ohio Railroad, Chicago, Rock Island & Pacific Railroad and Erie-Lackawanna Railroad. 10/16/ St. Louis-San Francisco Railway replaced New York, Chigago & St. Louis Railroad. 12/5/ Kansas City Southern Industries replaced Kansas City Southern Railway. 7/7/ Chicago & North Western Railway replaced New York, New Haven & Hartford Railroad. 2/25/ Atlantic Coast Line Railroad distributed one share of Alico Land Development Co. for each share of the railroad s stock. 11/13/ Southern Pacific Company stock split 3 for 1. 10/10/ Atchison, Topeka & Santa Fe Railway stock split 5 for 1. 7/31/ Union Pacific Railroad stock split 5 for 1. 6/18/ New York, Chicago and St. Louis Railroad stock split 2 for 1. 6/12/ Southern Railway Company stock split 2 1/2 for 1. 5/28/ Delaware & Hudson Company stock split 3 for 1. 1/23/ Chicago, Rock Island & Pacific Railroad stock split 2 for 1. 2/24/ Atlantic Coast Line Railroad stock split 3 for 1. 7/6/ Great Northern Railway stock split for for 1. Great Northern Railway replaced Great Northern pfd. 6/2/ Illinois Central Railroad stock split 2 for 1.

6 6/26/ /11/ /28/ Southern Pacific stock split 2 for 1. 3/29/ Kansas City Southern Railway replaced Northern Pacific Railway. 9/26/ New York, Chicago & St. Louis common stock split 5 for 1. Chicago Rock Island & Pacific Railroad replaced Delaware, Lackawanna & Western Railroad (D.L.& W.) 8/2/ Atchison, Topeka & Santa Fe s stock split 2 for 1. 7/15/ New York, New Haven & Hartford Railroad replaced Boston & Maine. 7/1/ Union Pacific Railroad stock split 2 for 1. 9/3/ Norfolk & Western stock split 4 for 1. 3/19/ Louisville & Nashville stock split 2 for 1. All Information as of January 31, by S&P Dow Jones Indices LLC, a part of McGraw Hill Financial. All rights reserved. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission. Standard & Poor s and S&P are registered trademarks of Standard & Poor s Financial Services LLC ( S&P ), a subsidiary of The McGraw-Hill Companies, Inc. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ( Dow Jones ). S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates ( S&P Dow Jones Indices ) makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and S&P Dow Jones Indices shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of an index is not an indication of future results. This document does not constitute an offer of any services. All information provided by S&P Dow Jones Indices is general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that seeks to provide an investment return based on the performance of any Index. S&P Dow Jones Indices LLC is not an investment advisor, and S&P Dow Jones Indices make no representation regarding the advisability of investing in any such investment fund or other investment vehicle. For more information on any of our indices please visit

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