SUNNYVALE, CA — July 1, 2002 — OMNIVISION Technology, Inc. (Nasdaq: OVTI) will join the Russell 3000® Index when the broad-market index is reconstituted June 30, according to a preliminary list of additions issued June 7 by Frank Russell Company. Index membership will go into effect July 1 and will remain in place for one year.
“The addition of OMNIVISION to the Russell 3000® Index is a recognition of our company’s financial performance and financial strength,” said Shaw Hong, Chairman and Chief Executive Officer. “This is a significant financial milestone for our company.”
Membership in Russell’s 21 U.S. equity indexes is determined strictly by market capitalization rankings and style attributes rather than by subjective opinion or committee decisions. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell’s indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company’s weighting in the particular index.
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. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
OMNIVISION Technologies, Inc. is an independent CameraChip™ solutions provider. Utilizing proprietary design technology for its highly integrated still-photo and video camera solutions for high-volume imaging applications, OMNIVISION integrates multiple image processing and capture functions into a single CameraChip™ design. With the addition of only a lens, the result is a low-cost CameraChip™ that consumes less power, has a greater environmental functioning range and has a smaller footprint than typical CMOS multi-chip image sensor solutions. OMNIVISION’s CameraChip™ solutions are in cell phones, personal digital assistants (PDAs), automobiles and industrial machine vision applications, as well as surveillance and biometric security applications.
OMNIVISION is based in Sunnyvale, California. For more information about the company, visit our Website at www.ovt.com.
Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $70 billion in assets and advises clients worldwide representing US$1.8 trillion. 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. For more information, go to http://www.russell.com.