Press Release November 23 2012

The Nigerian Stock Exchange (NSE) announced an error in the NSE 30 Index and Sectorial Indices. This problem has been attributed to a wrong Index Divisor used earlier which gave rise to a wrong index values.

The head of Market Operations at The NSE, Mr. Ikponmwosa Obaseki said the development has been corrected with new processes and checks already put in place to avoid a recurrence.

Obaseki also made it clear that the errorhas no effect on the All Share Index of the Nigerian Stock Exchange which mirrors the aggregate change in value of all stocks listed on The Exchange.

The Nigerian bourse began publishing The NSE 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NSE developed four sectorial indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors.

While the corrected Index Values have been uploaded on the NSE website, the annual rebalancing of the Indices, an exercise which The Exchange undertakes in collaboration with global financial data giant,Bloomberg Inc., is set to take place in December 2012.

Wole Tokede                                                                      

Head | Media Relations

The Nigerian Stock Exchange

Stock Exchange House | 2-4 Customs Street | Lagos| Nigeria

Tel: +234-1-4485851 | Mobile: +234 (0) 803 318 1574  

Email: wtokede@nse.com.ng

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