RITA Medical Systems Scheduled to Join the New Russell Microcap Index
FREMONT, Calif., June 17, 2005 /PRNewswire-FirstCall via COMTEX/ -- RITA Medical Systems, Inc. (Nasdaq: RITA) announced today that it is scheduled to join the new Russell Microcap Index when the Russell Investment Group reconstitutes its family of 23 U.S. indexes on June 24, 2005. Russell recently posted a preliminary list of additions to its indexes at http://www.russell.com/us/indexes/us/reconstitution/microcap_adds.asp.
The Russell Microcap Index, comprised of the smallest 1,000 securities in the small-cap Russell 2000® Index plus the next 1,000 companies below the index, is based on a ranking of all U.S. equities by market capitalization. According to Russell Indexes, this new index is intended to offer managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks.
RITA President and CEO Joseph DeVivo said, "We believe inclusion in the Russell Microcap Index reflects the progress the Company has made in increasing shareholder value. We look forward to the additional visibility and exposure of RITA within the investment community that comes along with being part of a Russell Index."
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Companies in the Russell Microcap were ranked as of May 31, 2005 by total market capitalization and weighted based on free-float adjustment, an integral aspect of Russell index methodology. Free-float adjustment means stocks are weighted by their available market capitalization which is calculated by multiplying the primary closing price by the available shares.
About Russell
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 39 countries. Russell manages more than $135 billion in assets and advises clients worldwide representing $2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.
About RITA Medical Systems, Inc.
RITA Medical Systems develops, manufactures and markets innovative products for cancer patients including radiofrequency ablation (RFA) systems for treating cancerous tumors as well as percutaneous vascular and spinal access systems. The Company's oncology product lines include implantable ports, some of which feature its proprietary Vortex® technology; tunneled central venous catheters; safety infusion sets and peripherally inserted central catheters used primarily in cancer treatment protocols. The proprietary RITA system uses radiofrequency energy to heat tissue to a high enough temperature to ablate it or cause cell death. In March 2000, RITA became the first RFA Company to receive specific FDA clearance for unresectable liver lesions in addition to its previous general FDA clearance for the ablation of soft tissue. In October 2002, RITA again became the first company to receive specific FDA clearance, this time, for the palliation of pain associated with metastatic lesions involving bone. The RITA Medical Systems website is at www.ritamedical.com.
The statements in this news release are not intended to predict the Company's future and financial operating performance. Information regarding risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements is included in the Company's filings with the Securities and Exchange Commission.
RITA is a trademark of RITA Medical Systems, Inc.
Russell Investment Group is a registered trade name of Frank Russell Company, a Washington, USA corporation, which operates through subsidiaries worldwide. Frank Russell Company is a subsidiary of The Northwestern Mutual Life Insurance Company.
Frank Russell Company is the owner of the trademarks, service marks and copyrights related to its indexes.
Contact: Allen & Caron Inc.
Jill Bertotti (investors)
Len Hall (media)
949-474-4300
jill@allencaron.com
len@allencaron.com
RITA Medical Systems, Inc.
Joseph DeVivo, Chief Executive Officer
Stephen Pedroff, VP Marketing Communications
510-771-0400
jdevivo@ritamed.com
spedroff@ritamed.com
SOURCE RITA Medical Systems, Inc.
Jill Bertotti (investors), jill@allencaron.com, or Len Hall (media),
len@allencaron.com, both of Allen & Caron Inc., +1-949-474-4300, for RITA Medica
Systems, Inc.; or Joseph DeVivo, Chief Executive Officer, jdevivo@ritamed.com, or
Stephen Pedroff, VP Marketing Communications, spedroff@ritamed.com, both of RITA
Medical Systems, Inc., +1-510-771-0400