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Posted 25 Jun 2001   For week ended June 22, 2001
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Sent on Mormon-News: 21Jun01

By Kent Larsen

Zions Bancorp to be Added to S&P 500

NEW YORK, NEW YORK -- Standard and Poor's announced Tuesday that it will add Zions Bancorp to its S&P 500 index after the close of trading on Friday, June 22nd. The change, necessary because Alza Corp. is being purchased by Johnson and Johnson, will likely make Zions a more widely held and watched stock.

Zions Bancorp is the bank holding company that owns Zions Bank and five other banks with 374 offices in the Western US. Headquartered in Salt Lake City, Utah, the bank's origins lie with Zion's Savings Bank and Trust Company, founded by LDS Church President Brigham Young in 1873. Now run by church member Harris Simmons, the bank is including in Mormon News' Mormon Stock Index.

Already the announcement has led to an increase in demand for the company's stock. In trading Wednesday, Zion was up $2.24 to $58.59, an increase of 4%. The addition of Zions Bancorp to the S&P 500 also means that its stock will be purchased by index funds and hedge funds seeking to mirror the performance of the S&P 500 and hedge changes in the market.


S&P to add Zions Bancorp to index, replacing Alza
Reuters 19Jun01 B4

Zion, Colonial get S&P Index boost
CBS Marketwatch 20Jun01 B4

Standard &Poor's Announces Changes in S&P 500 and S&P MidCap 400
Business Wire 19Jun01 B4


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