|CONTACT: Richard R Current, Vice President & CFO, 517/372-9200|
LANSING, Mich., June 30, 2008 — Neogen Corporation (NASDAQ: NEOG) has been selected for the Russell 2000 Index. This occurred as Russell reconstituted its comprehensive set of U.S. and global equity indexes. Neogen has been a member of Russell’s Microcap Index since 2005.
The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. This select group includes approximately 10% of all publicly traded companies in the United States with market capitalization ranging from $167 million to $2.7 billion. The Russell 2000 Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set.
“Russell is a benchmark of the industry, and as such, funds model their own portfolios after the prestigious Russell indexes,” said Richard Current, Neogen’s chief financial officer. “It’s an honor for Neogen to be included in an index used by institutional investors around the world. We’re very pleased that this opportunity will likely allow us to discuss Neogen’s attractive fundamentals with an even wider investor audience. Inclusion in a prestigious index like Russell 2000 can result an increase in trading activity.”
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Assets of $4.4 trillion are currently benchmarked to them. For more information on Russell indexes, go to www.russell.com.
Neogen plans to report its fourth quarter and FY 2008 financial results on Tuesday, July 22. Neogen CEO James Herbert and President Lon Bohannon will host a conference call for investors and analysts at 11 a.m. ET on July 22 to discuss the results, look behind the numbers, and discuss future growth opportunities and strategies. The conference call will also be available via webcast at www.neogen.com.
Neogen Corporation develops and markets products dedicated to food and animal safety. The company’s Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications, food allergens, drug residues, plant diseases and sanitation concerns. Neogen’s Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.