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"The Russell 3000 is one of the most widely known broad-market indices and Mac-Gray's inclusion reflects our continued growth and our progress in achieving the Company's strategic goals," said Stewart G. MacDonald, Mac-Gray's chief executive officer. "Our addition should result in greater investor awareness and interest in Mac-Gray."
Annual reconstitution of Russell's U.S. indexes captures the largest U.S. stocks as of the end of May 2009, ranking them by total market capitalization. Membership in the Russell 3000(R), which remains in place for one year, means automatic inclusion in the large-cap Russell 1000(R) Index or small-cap Russell 2000(R) Index as well as the appropriate growth and value style indexes. The Russell 3000(R) also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $136 billion in assets under management as of March 31, 2009, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
About Mac-Gray Corporation
Founded in 1927, Mac-Gray derives its revenue principally through the contracting of debit-card- and coin-operated laundry facilities in multi-unit housing facilities such as apartment buildings, college and university residence halls, condominiums and public housing complexes. Mac-Gray manages approximately 80,000 laundry rooms located in 43 states and the District of Columbia.
Mac-Gray also sells, services and leases commercial laundry equipment to commercial laundromats and institutions through its product sales division. This division also includes Mac-Gray's MicroFridge(R) business, where Mac-Gray sells its proprietary MicroFridge(R) line of products, which are combination refrigerators/freezers/microwave ovens utilizing innovative Safe Plug circuitry. MicroFridge(R) products bear the ENERGY STAR(R) designation. To learn more about Mac-Gray, visit the Company's website at http://www.macgray.com.
Contacts:
Michael J. Shea Jim Buckley
Chief Financial Officer Executive Vice President
Mac-Gray Corporation Sharon Merrill Associates, Inc.
781-487-7610 617-542-5300
Email: mshea@macgray.com Email: jbuckley@investorrelations.com
SOURCE Mac-Gray Corporation
http://www.macgray.com
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