HOUSTON, June 24 /PRNewswire-FirstCall/ -- New Generation Biofuels Holdings, Inc. (AMEX: GNB), a renewable fuels provider which just listed on the American Stock Exchange (AMEX) in mid-April, will join the Russell Microcap Index when Russell Investments reconstitutes its family of U.S. indexes on Friday, June 27th, after the market closes, according to a preliminary list of additions posted Friday on http://www.russell.com.
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
"We are extremely pleased to have been selected to the Russell Index," said Cary J. Claiborne, Chief Financial Officer. "Inclusion increases our visibility to a broader investment community." 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 $4.4 trillion in assets currently are benchmarked to them.
Annual reconstitution of Russell indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000 Index and Russell Microcap. 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.
Total returns data for the Russell Microcap and other Russell Indexes is available at http://www.russell.com/Indexes/performance/daily_total_returns_us.asp.
About New Generation Biofuels Holdings, Inc.
New Generation Biofuels is a renewable fuels provider. We hold an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from vegetable oils and animal fats that we intend to market as a new class of biofuel for power generation, heavy equipment, marine use and as heating fuel. We believe our proprietary biofuel can provide a cheaper, renewable alternative energy source with significantly lower emissions than traditional fuels. Our business model calls for establishing direct sales from manufacturing plants that we may purchase or build and sublicensing our technology to qualified licensees.
Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Forward Looking Statements
This news release contains forward-looking statements. These
forward-looking statements concern our operations, prospects, plans,
economic performance and financial condition and are based largely on our
current beliefs and expectations. These statements involve known and
unknown risks, uncertainties and other factors that may cause actual
results to be materially different from any future results expressed or
implied by such forward-looking statements. The risks and uncertainties
related to our business include all the risks attendant a development stage
business in the volatile energy industry, including, without limitation,
the risks set forth under the caption "Risk Factors" in our Annual Report
on Form 10-K for the fiscal year ended December 31, 2007. All
forward-looking statements included in this news release are based on
information available at the time of the release. We are under no
obligation to update or alter our forward-looking statements, whether as a
result of new information, future events or otherwise.
David Gillespie, President & CEO
New Generation Biofuels, Inc.
Wolfe Axelrod Weinberger Associates, LLC
|SOURCE New Generation Biofuels|
Copyright©2008 PR Newswire.
All rights reserved