Mount Gibson replaces Rinker in S&P/ASX200

West Perth-based Mount Gibson Iron Ltd will join the Standard & Poor's/Australian Stock Exchange 200, following the removal of building products manufacturer Rinker Group Ltd on July 2.

The full text of an announcement from Standard & Poor's is pasted below

Standard & Poor's today announced that it will remove Rinker Group Ltd. (ASX: RIN) from the S&P/ASX indices after the close of trading on Monday, July 2. Rinker Group's removal results from the acceptance rate of its unconditional takeover by CEMEX reaching 70%. Rinker Group will be removed at the cash offer price.

The vacancy created by the removal of Rinker Group from the S&P/ASX 20 will be filled by CSL Ltd. (ASX: CSL). This will become effective after the close of trading on July 2.

The vacancy created by the removal of Rinker Group from the S&P/ASX 200 will be filled by Mount Gibson Iron Ltd. (ASX: MGX). This will become effective after the close of trading on July 2.

The vacancy created by the removal of Rinker Group from the S&P/ASX All Australian 200 will be filled by Mount Gibson Iron Ltd. (ASX: MGX). This will become effective after the close of trading on July 2. "Mount Gibson Iron Ltd. will be the first stock to enter the S&P/ASX All Australian 200 subsequent to the index's launch on June 18, 2007", said Jason Hill, Director and Head of Standard & Poor's Index Services Australia. "The S&P/ASX All Australian 200 does not include foreign domiciled securities listed on the ASX, and is therefore more fully representative of the characteristics of Australian listed companies".

Rinker Group will not be replaced in the S&P/ASX 50, S&P/ASX All Australian 50, or S&P/ASX 100, each of which currently has an extra security as a result of Asciano Group entering these indices following its recent spin-off from Toll Holdings Ltd.

CSL is a biopharmaceutical company whose activities include research, development, manufacturing, marketing and distribution of biopharmaceutical products. Mount Gibson Iron is an iron ore producer.