The Goldman Sachs Group, Inc.

The Goldman Sachs Group, Inc.

August 19, 2005 16:47 ET

Information pertaining to the GS $ HYTop Index

NEW YORK--(CCNMatthews - Aug 19, 2005) -

The Goldman Sachs Group, Inc. (NYSE:GS) announced today that it has identified certain inaccuracies in the selection of components for the GS $ HYTop Index that have affected the Index since March 2005. All bonds included in the GS $ HYTop Index as published during the affected period have met the minimum eligibility criteria for inclusion in the Index, and calculations of the Index value have been based on the bonds actually included in the Index at the time of valuation. Nonetheless, as a result of software and other issues, a number of liquid high yield bonds were included in the Index as replacements for other component bonds that would otherwise have remained in the Index. In addition, the Index has not reflected consistent application of the operative rules and methodology for all prior periods. However, in all events, the actual components of the Index have been disclosed monthly.

Because of technical difficulties in rebalancing the Index in the middle of a month, Goldman Sachs will update the composition of the Index to address these issues when it publishes the GS $ HYTop Index for September 1, 2005. Goldman Sachs estimates, based on data as of August 1, 2005, that approximately 20 liquid high yield bonds will be removed and replaced in connection with the September 1, 2005 rebalancing of the index composition. Until the September 1, 2005 rebalancing Goldman Sachs will continue to calculate the Index value based on the August 1, 2005 index composition.

Contact Information

  • Goldman Sachs
    Michael DuVally, 212-902-5400