SOURCE: Monterey Gourmet Foods

July 10, 2008 07:00 ET

Monterey Gourmet Foods Joins Russell Microcap Index

SALINAS, CA--(Marketwire - July 10, 2008) - Monterey Gourmet Foods (NASDAQ: PSTA), a manufacturer and marketer of fresh gourmet refrigerated food products, joined the Russell Microcap Index when Russell Investments reconstituted its family of U.S. indexes on June 27, according to a preliminary list of additions posted on www.russell.com.

Membership in the Russell Microcap Index, which remains in place for one year, includes 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 very pleased with our inclusion in this index, which, we believe, reflects our continued positive momentum," said Eric Eddings, CEO of the company. "Russell is an industry leader for stock indexes and we expect our inclusion will generate greater interest in our stock among institutional investors."

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 Russell:

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.

About Monterey Gourmet Foods (NASDAQ: PSTA)

Monterey Gourmet Foods manufactures USDA inspected, fresh gourmet refrigerated food products at its integrated 133,000 square foot corporate headquarters, distribution, and manufacturing facilities in Salinas (Monterey County), CA; Seattle, WA; and Eugene, OR. Monterey Gourmet Foods has national distribution of its products, which are sold under the brands Monterey Pasta, CIBO Naturals, Emerald Valley Kitchen, Sonoma Cheese and Casual Gourmet in more than 11,000 retail and club stores throughout the United States and selected regions of Canada, the Caribbean, Latin America, and Asia Pacific. For more information about Monterey Gourmet Foods, visit www.MontereyGourmetFoods.com.

Contact Information


  • Company Contacts:
    Monterey Gourmet Foods
    Eric Eddings
    Chief Executive Officer
    Email Contact
    Scott Wheeler
    Chief Financial Officer
    Email Contact
    (206) 622-1016

    Investor Relations Contacts:
    Lippert / Heilshorn & Associates
    Kirsten Chapman
    Email Contact
    (415) 433-3777