IRVINE, Calif. – Local.com Corporation (NASDAQ:LOCM), a leading local search site and network, announced that the company has been added to the Russell 3000® Index according to a list posted June 28, 2010 on Russell’s website: www.russell.com.
The Russell 3000 Index serves as the U.S. component to the Russell Global Index and provides a comprehensive and unbiased barometer for evaluating stocks performance in the U.S. equity market. It measures the performance of 3,000 publicly held U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. market.
“We are pleased to be included in the Russell 3000 Index, which represents a valuable benchmarking tool for investors and objectively tracks performance on some of the country’s top publicly traded companies,” said Brenda Agius, Local.com chief financial officer. “We expect our addition to the Russell 3000 Index will increase our visibility to institutional investors.”
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Local.com Corporation (NASDAQ:LOCM) owns and operates a leading local search site and network in the United States. The company uses patented and proprietary technologies to provide over 20 million consumers each month with relevant search results for local businesses, products and services on Local.com and over 800 partner sites. Over 70,000 small business customers use Local.com products and services to reach consumers using a variety of subscription, performance and display advertising and website products. To advertise, or for more information visit: www.local.com.
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $179 billion in assets under management as of March 31, 2010, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.