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S&P Equity Research; Health Care Reform After The Buzzsaw - Where Are We Now?
Date:2/8/2010

benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address.

S&P Global STARS Distribution

In North America

As of December 31, 2009, research analysts at Standard & Poor's Equity Research Services North America recommended 33.7% of issuers with buy recommendations, 54.3% with hold recommendations and 12.0% with sell recommendations.

In Europe

As of December 31, 2009, research analysts at Standard & Poor's Equity Research Services Europe recommended 31.5% of issuers with buy recommendations, 44.0% with hold recommendations and 24.5% with sell recommendations.

In Asia

As of December 31, 2009, research analysts at Standard & Poor's Equity Research Services Asia recommended 35.6% of issuers with buy recommendations, 51.4% with hold recommendations and 13.0% with sell recommendations.

Globally

As of December 31, 2009, research analysts at Standard & Poor's Equity Research Services globally recommended 33.5% of issuers with buy recommendations, 52.3% with hold recommendations and 14.2% with sell recommendations.

5-STARS (Strong Buy): Total return is expected to outperform the total return of a relevant benchmark, by a wide margin over the coming 12 months, with shares rising in price on an absolute basis.

4-STARS (Buy): Total return is expected to outperform the total return of a relevant benchmark over the coming 12 months, with shares rising in price on an absolute basis.

3-STARS (Hold): Total return is expected to closely approximate the total return of a relevant bench
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SOURCE Standard & Poor's
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