Capstone Turbine Added to Russell 3000 Index List
CHATSWORTH, Calif.--June 11, 2001--Microturbine power systems manufacturer Capstone Turbine Corporation (www.microtubine.com) has been added to the preliminary list of companies joining the Russell 3000(R) Index.The index, one of 21 U.S. equity indexes developed by Frank Russell Company (www.russell.com), is to be rebalanced at the end of June, according to a Russell press release. Final index membership will go into effect July 1 and remain in place for one year.
Russell adjusts its indexes annually in order to accurately rank the 3,000 largest companies in the U.S. stock market by market capitalization. This realignment allows the indexes to provide a truer reflection of stock market activity and performance. 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.
According to the Russell press release, "Membership in Russell's 21 U.S. equity indexes -- widely used as benchmarks for both passive and active investment strategies -- is determined strictly by market capitalization rankings and style attributes, rather than by subjective opinion or committee decisions. This ability to more accurately reflect market reality is one reason why Russell's benchmarks are widely used to evaluate investment managers."
"We are pleased to join the Russell 3000, which reflects the market's valuation of our business and its prospects," said Capstone CFO Jeffrey R. Watts.
About Frank Russell Company
Frank Russell Company, a global investment services firm, provides manager-of-manager investment products and services in more than 35 countries. Russell manages $66 billion in assets and advises clients representing more than $1 trillion worldwide. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. The company ranks 13th on Fortune magazine's top 100 best companies to work for in the United States.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com) -- winner of Financial Times Energy's (www.ftenergy.com) 2000 Global Energy Award for Most Innovative Commercial Technology -- is a leading producer of low-emission microturbine systems. In 1998, Capstone was the first to offer commercial power products utilizing microturbine technology, the result of more than ten years of focused research. Worldwide, more than 1,000 commercial production Capstone MicroTurbine systems serve, among others, the following applications:
| -- | Hybrid electric vehicles (HEVs): onboard generation |
| -- | Resource recovery: converting oilfield, landfill and sewage waste gases into electricity |
| -- | Micro-cogeneration: combined heat/power/chilling solutions |
| -- | The 9s market: power quality and reliability |
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about Capstone's business, including statements regarding shareholder value. You can find many of these statements by looking for words such as "believes," "expects," "hopes," "anticipates," "estimates," or similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. These include those risks, uncertainties, marketplace competitors and risk factors identified, among other places, under "Business Risks" in Capstone's Annual Report (www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cpst&script=2100) on form 10-K for the year ended Dec. 31, 2000. Capstone cautions you not to place undue reliance on these statements, which speak only as of the date of this release. Capstone undertakes no obligation to release any revisions to such statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
Note: Information on Capstone's FT Energy Award noted above is available at: www.microturbine.com/whatsnew/pressrelease.asp?article=54
Note: Annual report is at: www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cpst&script=2100