Standard & Poor's Announces Change to U.S. Index

S&P REIT Composite constituent Alexandria Real Estate Equities Inc. (NYSE:ARE) will replace Sequa Corp. (NYSE:SQA.A) in the S&P MidCap 400 after the close of trading on Friday, November 30. Sequa is being acquired by The Carlyle Group in a deal that is expected to close on or about that date, pending final approvals.

Standard & Poor's will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com.

Alexandria Real Estate Equities is a REIT that engages in the ownership, operation, management, development, acquisition, and redevelopment of properties for the life sciences industry. Headquartered in Pasadena, CA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Office REITs Sub-Industry index.

Following is a summary of the change:

S&P MIDCAP 400 INDEX - November 30, 2007

COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY

ADDED Alexandria Real Financials Office REITs
Estate Equities

DELETED Sequa Industrials Industrial Conglomerates



Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.

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