KBW Announces Quarterly Rebalancing of Indices

NEW YORK--(Business Wire)--
KBW, Inc. (NYSE: KBW) a full service investment bank that
specializes in the financial services sector, today announced upcoming
changes to the KBW Indices: KBW Bank Index (BKX(SM)); KBW Capital
Markets Index (KSX(SM)); KBW Insurance Index (KIX(SM)); KBW Regional
Banking Index (KRX(SM)); and KBW Mortgage Finance Index (MFX(SM)).

Effective prior to the opening of business on Monday, March 24,
2008, the above-referenced KBW Indices will be rebalanced. As the
major U.S. stock markets will be closed on Friday, March 21, 2008,
there will be no purchases and/or sale transactions on that day.

As a part of the rebalancing, the KBW Index Committee has deleted
Bear Stearns (NYSE: BSC) and added Interactive Brokers Group (NASDAQ:
IBKR) to the KBW Capital Markets Index (Index Symbol: KSX, ETF Symbol
KCE). There will be no other deletions/additions to any other of the
above-referenced Indices at this time.

The KBW family of indices and exchange traded funds include: KBW
Bank Index (Index Symbol: BKX, ETF Symbol KBE); KBW Capital Markets
Index (Index Symbol: KSX, ETF Symbol KCE); KBW Insurance Index (Index
Symbol: KIX, ETF Symbol KIE); KBW Regional Banking Index (Index
Symbol: KRX, ETF Symbol KRE); KBW Mortgage Finance Index (Index
Symbol: MFX).

About KBW

KBW, Inc. through its subsidiaries Keefe, Bruyette & Woods, Inc.,
Keefe, Bruyette & Woods Limited and KBW Asset Management, is a full
service investment bank specializing in the financial services
industry. Founded in 1962, the firm is widely recognized as a leading
authority in the banking, insurance, brokerage, asset management,
mortgage banking and specialty finance sectors. The firm has
established industry-leading positions in the areas of research,
corporate finance, mergers and acquisitions as well as sales and
trading for financial services companies.

Intermarket Communications
Neil Shapiro, 212-754-5423
or
Jenna Agins, 212-754-5613

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