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2005 LEADERS

The BusinessWeek
Global 1200
RANK MARKET VALUE RANK MARKET VALUE
2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

1 1 General Electric U.S. 377.42 47 72 Banco Santander Central Hispano Spain 79.64
2 2 Exxon Mobil U.S. 361.09 48 42 Nokia Finland 76.71
3 3 Microsoft U.S. 294.65 49 87 Mizuho Financial Group Japan 76.62
4 4 Citigroup U.S. 245.61 50 38 Telefónica Spain 76.33
5 5 BP Britain 236.23 51 57 AstraZeneca Britain 75.96
6 8 Royal Dutch Shell Britain 211.79 52 80 UnitedHealth Group U.S. 75.18
7 6 Wal-Mart Stores U.S. 202.14 53 52 Qualcomm U.S. 74.57
8 18 Procter & Gamble U.S. 195.44 54 149 Sprint Nextel U.S. 72.94
9 9 Bank of America U.S. 184.16 55 37 NTT DoCoMo Japan 72.73
10 12 Johnson & Johnson U.S. 183.71 56 124 Petrobras (Petroleo Brasileiro) Brazil 72.27
11 10 HSBC Holdings Britain 179.05 57 68 ING Groep Netherlands 71.87
12 13 American International Group U.S. 174.27 58 27 Dell U.S. 71.79
13 15 Intel U.S. 160.83 59 36 Deutsche Telekom Germany 69.79
14 17 Toyota Motor Japan 158.20 60 121 Sumitomo Mitsui Financial Japan 68.99
15 7 Pfizer U.S. 156.27 61 49 Nippon Telegraph & Telephone Japan 67.70
16 23 Altria Group U.S. 151.42 62 47 Siemens Germany 67.60
17 16 TOTAL France 149.25 63 71 Medtronic U.S. 67.07
18 11 Vodafone Group Britain 147.64 64 61 Unilever (2) Brit./Neth. 67.05
19 20 GlaxoSmithKline Britain 146.85 65 67 BNP Paribas France 66.00
20 22 Novartis Switzerland 145.52 66 53 Barclays Britain 65.97
21 14 International Business Machines U.S. 140.42 67 58 Oracle U.S. 64.88
22 19 JPMorgan Chase U.S. 134.01 68 137 Unicredito Italiano Italy 64.39
23 33 Roche Holding Switzerland 132.13 69 63 Merck U.S. 64.38
24 24 Chevron U.S. 128.66 70 50 American Express U.S. 63.71
25 65 Mitsubishi UFJ Financial Group Japan 126.37 71 78 E.ON Germany 62.81
26 28 Nestlé Switzerland 114.97 72 44 France Telecom France 62.08
27 29 ENI Italy 108.60 73 88 Merrill Lynch U.S. 61.04
28 21 Cisco Systems U.S. 107.94 74 75 Morgan Stanley U.S. 60.67
29 89 sanofi-aventis France 107.92 75 79 HBOS Britain 60.35
30 26 Wells Fargo U.S. 105.54 76 86 BBVA Spain 60.05
31 31 Coca-Cola U.S. 101.49 77 106 Motorola U.S. 60.00
32 48 Samsung Electronics Korea 100.38 78 45 eBay U.S. 59.98
33 43 Amgen U.S. 99.87 79 64 3M U.S. 59.64
34 39 PepsiCo U.S. 98.33 80 59 Abbott Laboratories U.S. 58.50
35 40 AT&T U.S. 97.34 81 91 Goldman Sachs Group U.S. 58.49
36 60 China Mobile (Hong Kong) Hong Kong 96.77 82 51 Tyco International U.S. 57.69
37 46 BHP Billiton (1) Aust./Brit. 95.08 83 119 Axa France 57.57
38 30 UBS Switzerland 94.47 84 120 Rio Tinto (3) Aust./Brit. 57.51
39 35 Royal Bank of Scotland Group Britain 90.60 85 69 Eli Lilly U.S. 57.40
40 34 Home Depot U.S. 88.74 86 74 SAP Germany 57.14
41 25 Verizon Communications U.S. 88.42 87 55 Comcast U.S. 57.08
42 62 ConocoPhillips U.S. 86.81 88 90 Yahoo! U.S. 56.63
43 32 United Parcel Service U.S. 85.85 89 188 Apple Computer U.S. 56.63
44 70 Hewlett-Packard U.S. 85.09 90 129 Schlumberger U.S. 56.39
45 41 Time Warner U.S. 84.10 91 84 Wyeth U.S. 55.77
46 54 Wachovia U.S. 82.93 92 77 U.S. Bancorp U.S. 55.04

NOTES: Market value equals share price on Nov. 31, 2005, multiplied by the number of shares outstanding, translated into U.S. dollars at November exchange rates.
Market value may include several classes of stock; price and yield data are based on the company’s most widely held issue.
1) Global ranking calculated for BHP Billiton by combining market value of Britain’s BHP Billiton PLC and Australia’s BHP Billiton Ltd. 2) Global ranking calculated for Unilever by
combining market value of the Netherland’s Unilever NV and Britain’s Unilever PLC. 3) Global ranking calculated for Rio Tinto by combining market value of Britain’s Rio Tinto PLC and
Australia’s Rio Tinto Ltd. 4) Global ranking for Carnival calculated by combining the value of Britain’s Carnival PLC and Carnival Corp. of the U.S. 5) Global ranking calculated for Reed
Elsevier by combining market value of Britain’s Reed Elsevier PLC and the Netherlands’ Reed Elsevier NV. 6) Global ranking calculated for Brambles Industries by combining market
value of Britain’s Brambles Industries PLC and the Australia’s Brambles Industries Ltd.
Data provided by Standard & Poor’s Compustat. NA = Not available. NR = Negative return. NM = Not meaningful.

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RANK MARKET VALUE RANK MARKET VALUE


2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

93 92 United Technologies U.S. 54.84 159 95 Telstra Australia 35.45


94 102 Credit Suisse Group Switzerland 54.15 160 179 Exelon U.S. 34.72
95 103 Allianz Germany 53.42 161 125 Anheuser-Busch U.S. 33.96
96 117 Lowe’s U.S. 52.63 162 222 Lehman Brothers Holdings U.S. 33.94
97 118 Texas Instruments U.S. 52.55 163 185 Toronto-Dominion Bank Canada 33.90
98 115 Boeing U.S. 52.55 164 146 MBNA U.S. 33.60
99 100 Honda Motor Japan 51.96 165 153 EMC U.S. 33.30
100 76 Telecom Italia Italy 51.86 166 143 First Data U.S. 33.12
101 66 Viacom U.S. 51.85 167 198 BG Group Britain 33.08
102 83 LM Ericsson Sweden 51.78 168 161 Banca Intesa Italy 32.90
103 107 DaimlerChrysler Germany 51.28 169 290 Halliburton U.S. 32.65
104 96 Deutsche Bank Germany 50.70 170 178 Nomura Holdings Japan 32.54
105 82 Walt Disney U.S. 50.04 171 152 Tokyo Electric Power Japan 32.53
106 93 BellSouth U.S. 49.91 172 173 Australia & New Zealand Banking Group Australia 32.31
107 110 Canon Japan 49.75 173 199 St. Paul Travelers U.S. 32.21
108 123 Société Générale France 49.44 174 262 Mitsubishi Corp. Japan 32.15
109 112 Takeda Pharmaceutical Japan 48.89 175 232 Imperial Oil Canada 32.04
110 94 L’Oréal France 48.87 176 154 BT Group Britain 31.91
111 141 Royal Bank of Canada Canada 48.67 177 209 Occidental Petroleum U.S. 31.88
112 85 News Corp. U.S. 48.21 178 156 Vivendi Universal France 31.18
113 81 Enel Italy 48.07 179 174 Emerson Electric U.S. 31.05
114 182 Companhia Vale do Rio Doce Brazil 47.96 180 193 Westpac Banking Australia 31.03
115 101 Target U.S. 47.34 181 162 Honeywell International U.S. 30.79
116 386 WellPoint U.S. 47.33 182 307 Corning U.S. 30.74
117 142 Statoil Norway 47.30 183 144 Carrefour France 30.68
118 133 Anglo American Britain 46.95 184 204 EADS Netherlands 30.00
119 108 Carnival (4) Brit./U.S. 46.67 185 190 Munchener Rueck. Germany 29.87
120 136 British American Tobacco Britain 46.66 186 461 Valero Energy U.S. 29.66
121 56 Fannie Mae U.S. 46.51 187 169 FedEx U.S. 29.58
122 250 Manulife Financial Canada 46.37 188 278 O2 Britain 29.53
123 127 Walgreen U.S. 46.30 189 260 Zurich Financial Services Group Switzerland 29.43
124 105 Lloyds TSB Group Britain 46.17 190 177 BMW Germany 29.40
125 132 Matsushita Electric Industrial Japan 45.60 191 175 Applied Materials U.S. 29.38
126 97 Nissan Motor Japan 45.15 192 217 Bayer Germany 29.16
127 116 Diageo Britain 44.08 193 573 Banco Bradesco Brazil 28.70
128 114 Crédit Agricole France 43.75 194 186 Schering-Plough U.S. 28.55
129 98 Dow Chemical U.S. 43.67 195 197 Millea Holdings Japan 28.47
130 145 Taiwan Semiconductor Mfg. Taiwan 43.24 196 311 Softbank Japan 28.33
131 99 Freddie Mac U.S. 43.21 197 201 Colgate-Palmolive U.S. 28.24
132 128 McDonald’s U.S. 42.60 198 160 Kimberly-Clark U.S. 27.71
133 109 DuPont U.S. 42.54 199 218 Endesa Spain 27.63
134 104 Bristol-Myers Squibb U.S. 42.25 200 194 Aviva Britain 27.61
135 122 ABN AMRO Holding Netherlands 42.07 201 205 Groupe Danone France 27.60
136 138 LVMH France 42.06 202 221 Cardinal Health U.S. 27.37
137 111 Tesco Britain 40.82 203 295 Burlington Resources U.S. 27.31
138 158 Commonwealth Bank of Australia Australia 40.77 204 368 CNOOC Hong Kong 27.26
139 130 Hutchison Whampoa Hong Kong 40.45 205 184 Automatic Data Processing U.S. 27.08
140 131 BASF Germany 39.92 206 216 Bank of Montreal Canada 26.88
141 187 EnCana Canada 39.90 207 403 Banco Itaú Holding Financeira Brazil 26.75
142 126 Assicurazioni Generali Italy 39.63 208 256 Devon Energy U.S. 26.75
143 159 Caterpillar U.S. 39.30 209 168 Nordea Sweden 26.66
144 195 Prudential Financial U.S. 39.24 210 219 KBC Group Belgium 26.61
145 167 MetLife U.S. 38.94 211 310 Aetna U.S. 26.45
146 135 Fortis Belgium 38.69 212 181 Lockheed Martin U.S. 26.43
147 165 RWE Germany 38.55 213 238 Dominion Resources U.S. 26.35
148 155 Bank of Nova Scotia Canada 38.54 214 255 SunTrust Banks U.S. 26.28
149 148 A.P. Moller-Maersk Denmark 38.14 215 279 Hartford Financial Services Group U.S. 26.22
150 151 National Australia Bank Australia 37.26 216 277 Japan Tobacco Japan 25.79
151 147 Sony Japan 37.08 217 351 Suncor Energy Canada 25.79
152 243 America Movil Mexico 36.89 218 203 Southern U.S. 25.74
153 139 Yahoo! Japan Japan 36.61 219 316 Alltel U.S. 25.59
154 140 Allstate U.S. 36.46 220 246 Denso Japan 25.46
155 134 Washington Mutual U.S. 36.15 221 183 Hang Seng Bank Hong Kong 25.29
156 163 Repsol YPF Spain 36.00 222 223 Standard Chartered Britain 25.26
157 150 Koninklijke Philips Electronics Netherlands 35.86 223 231 East Japan Railway Japan 25.20
158 214 Suez France 35.83 224 248 Norsk Hydro Norway 25.17

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RANK MARKET VALUE RANK MARKET VALUE
2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

225 172 National Grid Britain 25.16 291 189 Swisscom Switzerland 20.75
226 192 Bank of New York U.S. 24.95 292 343 Cie. Financière Richemont Switzerland 20.66
227 210 Duke Energy U.S. 24.87 293 241 Newmont Mining U.S. 20.61
228 176 Illinois Tool Works U.S. 24.76 294 244 Danske Bank Denmark 20.55
229 206 Singapore Telecommunications Singapore 24.70 295 252 Guidant U.S. 20.44
230 324 Burlington Northern Santa Fe U.S. 24.70 296 258 Northrop Grumman U.S. 20.35
231 282 Aegon Netherlands 24.68 297 449 Husky Energy Canada 20.34
232 288 TXU U.S. 24.64 298 333 Union Pacific U.S. 20.26
233 227 Cheung Kong (Holdings) Hong Kong 24.61 299 263 BOC Hong Kong (Holdings) Hong Kong 20.17
234 345 InBev Belgium 24.39 300 229 Sysco U.S. 20.12
235 483 Canadian Natural Resources Canada 24.27 301 281 Kansai Electric Power Japan 20.07
236 264 Progressive U.S. 24.24 302 NR Amazon.com U.S. 20.06
237 267 Baxter International U.S. 24.21 303 291 Golden West Financial U.S. 19.93
238 211 Deutsche Post Germany 24.18 304 286 Cadbury Schweppes Britain 19.92
239 406 AmBev (Cia. de Bebidas das Americas) Brazil 24.17 305 327 McGraw-Hill U.S. 19.89
240 202 Dexia Belgium 24.14 306 328 Allied Irish Banks Ireland 19.84
241 273 AFLAC U.S. 24.01 307 356 Petro-Canada Canada 19.82
242 164 Alcoa U.S. 23.92 308 271 Compagnie de Saint-Gobain France 19.76
243 170 TeliaSonera Sweden 23.85 309 374 Charles Schwab U.S. 19.68
244 247 Iberdrola Spain 23.76 310 254 Symantec U.S. 19.67
245 289 Best Buy U.S. 23.76 311 454 Monsanto U.S. 19.65
246 240 Swiss Re Switzerland 23.73 312 367 Baker Hughes U.S. 19.60
247 411 Wal-Mart de Mexico Mexico 23.64 313 326 SABMiller Britain 19.58
248 224 Costco Wholesale U.S. 23.60 314 340 Schneider Electric France 19.54
249 270 Sun Life Financial Canada 23.48 315 474 Hon Hai Precision Industry Taiwan 19.53
250 336 Franklin Resources U.S. 23.47 316 397 Mitsui & Co. Japan 19.53
251 226 Starbucks U.S. 23.37 317 275 L’Air Liquide France 19.50
252 212 BB&T U.S. 23.32 318 372 Chubb U.S. 19.36
253 365 Gilead Sciences U.S. 23.19 319 287 Central Japan Railway Japan 19.29
254 274 HCA U.S. 23.08 320 433 Genzyme General U.S. 19.19
255 325 Nippon Steel Japan 23.03 321 370 Mitsubishi Estate Japan 19.06
256 237 General Dynamics U.S. 23.00 322 518 Orix Japan 19.02
257 220 Thomson Canada 23.00 323 NR Sears Holdings U.S. 18.98
258 208 Sun Hung Kai Properties Hong Kong 22.88 324 361 State Street U.S. 18.92
259 213 H&M Hennes & Mauritz Sweden 22.87 325 360 BAE Systems Britain 18.69
260 242 Koninklijke KPN Netherlands 22.86 326 321 JFE Holdings Japan 18.61
261 339 Caremark Rx U.S. 22.85 327 355 PNC Financial Services Group U.S. 18.56
262 335 Canadian National Railway Canada 22.59 328 293 Inditex Spain 18.34
263 234 Hitachi Ltd. Japan 22.51 329 501 Agilent Technologies U.S. 18.29
264 249 Reckitt Benckiser Britain 22.45 330 298 Kellogg U.S. 18.24
265 261 San Paolo-IMI Italy 22.42 331 207 Cendant U.S. 18.20
266 235 Canadian Imperial Bank of Commerce Canada 22.36 332 402 Norfolk Southern U.S. 17.98
267 171 Fifth Third Bancorp U.S. 22.33 333 428 Loews U.S. 17.94
268 215 Renault France 22.31 334 512 Talisman Energy Canada 17.91
269 334 Shin-Etsu Chemical Japan 22.27 335 444 ABB Switzerland 17.83
270 420 Astellas Pharma Japan 22.22 336 463 Moody’s U.S. 17.77
271 228 Nike U.S. 22.21 337 468 Commerzbank Germany 17.73
272 272 Capital One Financial U.S. 22.14 338 362 Fanuc Japan 17.61
273 438 Kookmin Bank Korea 22.11 339 269 Clear Channel Communications U.S. 17.60
274 233 SLM U.S. 22.00 340 595 Federated Department Stores U.S. 17.54
275 296 CVS U.S. 22.00 341 331 POSCO Korea 17.49
276 225 BCE (Bell Canada Enterprises) Canada 21.89 342 305 Stryker U.S. 17.49
277 446 Hyundai Motor Korea 21.76 343 405 St. Jude Medical U.S. 17.46
278 276 Imperial Tobacco Group Britain 21.76 344 439 Veolia Environnement France 17.42
279 400 Marathon Oil U.S. 21.73 345 322 Volvo Sweden 17.40
280 166 Boston Scientific U.S. 21.70 346 460 AGF France 17.33
281 330 Prudential Britain 21.69 347 614 EOG Resources U.S. 17.33
282 306 Apache U.S. 21.50 348 315 Chubu Electric Power Japan 17.31
283 200 National City U.S. 21.33 349 388 Telefonos de Mexico Mexico 17.30
284 312 Anadarko Petroleum U.S. 21.31 350 349 Bridgestone Japan 17.28
285 743 Westfield Group Australia 21.25 351 516 Woodside Petroleum Australia 17.24
286 239 Reed Elsevier (5) Brit./Neth. 21.16 352 292 Raytheon U.S. 17.16
287 430 Transocean U.S. 21.07 353 398 Scottish Power Britain 17.14
288 299 Volkswagen Germany 20.86 354 309 Danaher U.S. 17.10
289 490 CEMEX Mexico 20.86 355 436 Simon Property Group U.S. 16.99
290 280 Countrywide Financial U.S. 20.79 356 399 Toshiba Japan 16.94

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2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

357 301 Sharp Japan 16.93 423 401 Becton, Dickinson U.S. 14.55
358 364 Electronic Arts U.S. 16.91 424 265 Biogen Idec U.S. 14.53
359 344 Staples U.S. 16.89 425 371 Entergy U.S. 14.52
360 313 General Mills U.S. 16.87 426 385 DBS Group Holdings Singapore 14.48
361 359 Marsh & McLennan U.S. 16.80 427 523 Mitsubishi Electric Japan 14.43
362 373 Praxair U.S. 16.76 428 407 American Electric Power U.S. 14.38
363 425 FPL Group U.S. 16.74 429 499 Xstrata Britain 14.36
364 304 Deere U.S. 16.73 430 348 Loblaw Canada 14.36
365 779 Sumitomo Metal Industries Japan 16.71 431 608 Sumitomo Corp. Japan 14.32
366 729 OMV Austria 16.58 432 317 Nintendo Japan 14.31
367 300 Computer Associates International U.S. 16.56 433 393 CLP Holdings Hong Kong 14.19
368 318 Waste Management U.S. 16.56 434 284 Alcan Canada 14.19
369 537 Medco Health Solutions U.S. 16.47 435 480 Principal Financial Group U.S. 14.18
370 553 PetroChina China 16.46 436 423 Barrick Gold Canada 14.18
371 413 Mitsui Sumitomo Insurance Japan 16.39 437 562 Mitsubishi Heavy Industries Japan 14.17
372 342 Weyerhaeuser U.S. 16.39 438 585 Cigna U.S. 14.15
373 297 Fuji Photo Film Japan 16.35 439 414 CRH Ireland 14.13
374 NR Telenor Norway 16.30 440 469 Kroger U.S. 14.07
375 NR Genworth Financial U.S. 16.23 441 448 Mellon Financial U.S. 14.07
376 497 Aeon Japan 16.18 442 366 Peugeot France 14.06
377 257 Alcatel France 16.16 443 542 Sumitomo Trust & Banking Japan 14.05
378 455 Hoya Japan 16.13 444 NR DnB NOR Norway 13.95
379 381 Adobe Systems U.S. 16.09 445 590 Telus Canada 13.93
380 445 Paychex U.S. 16.07 446 391 Analog Devices U.S. 13.91
381 482 ACE U.S. 16.02 447 749 Komatsu Japan 13.86
382 519 Broadcom U.S. 16.02 448 418 YUM! Brands U.S. 13.86
383 302 STMicroelectronics Netherlands 15.99 449 597 Phelps Dodge U.S. 13.77
384 251 British Sky Broadcasting Group Britain 15.97 450 478 Swire Pacific Hong Kong 13.75
385 383 Bouygues France 15.95 451 382 Banco Popular Espanol Spain 13.74
386 347 Kohl’s U.S. 15.84 452 498 Mediobanca Italy 13.73
387 320 GUS Britain 15.76 453 415 PG&E U.S. 13.73
388 259 Zimmer Holdings U.S. 15.53 454 285 Sara Lee U.S. 13.72
389 626 McKesson U.S. 15.49 455 432 Xerox U.S. 13.64
390 389 FirstEnergy U.S. 15.49 456 408 KeyCorp U.S. 13.55
391 352 SK Telecom Korea 15.47 457 426 FöreningsSparbanken Sweden 13.53
392 253 International Paper U.S. 15.46 458 441 Marriott International U.S. 13.46
393 489 Christian Dior France 15.45 459 629 Daiichi Sankyo Japan 13.43
394 375 RAS Italy 15.45 460 429 Asahi Glass Japan 13.41
395 338 Regions Financial U.S. 15.44 461 475 Johnson Controls U.S. 13.37
396 323 Svenska Handelsbanken Sweden 15.41 462 532 VINCI France 13.36
397 392 Archer Daniels Midland U.S. 15.40 463 462 Henkel Germany 13.36
398 354 Wm. Wrigley Jr. U.S. 15.38 464 466 Woolworths Ltd. Australia 13.36
399 487 abertis infraestructuras Spain 15.36 465 380 Forest Laboratories U.S. 13.34
400 640 Pernod Ricard France 15.34 466 566 Mitsui Fudosan Japan 13.30
401 268 Gap U.S. 15.31 467 515 Starwood Hotels & Resorts Worldwide U.S. 13.27
402 NR T&D Holdings Japan 15.28 468 412 Skandinaviska Enskilda Banken Sweden 13.24
403 NR Fortum Finland 15.25 469 379 Marks & Spencer Group Britain 13.23
404 358 Omnicom Group U.S. 15.25 470 421 Legal & General Group Britain 13.17
405 442 Fujitsu Japan 15.14 471 424 United Overseas Bank Singapore 13.17
406 191 Ford Motor U.S. 15.10 472 443 PPR France 13.17
407 341 Cathay Financial Holdings Taiwan 15.06 473 564 Allergan U.S. 13.16
408 353 Heineken Netherlands 15.03 474 560 Nikko Cordial Japan 13.15
409 294 Centrica Britain 15.03 475 440 Hershey U.S. 13.14
410 464 TransCanada Canada 15.02 476 431 Air Products & Chemicals U.S. 13.13
411 528 Public Service Enterprise Group U.S. 15.01 477 500 Reynolds American U.S. 13.12
412 357 Novo-Nordisk Denmark 14.97 478 800 Tenaris Argentina 13.12
413 484 Holcim Switzerland 14.93 479 435 Ingersoll-Rand U.S. 13.11
414 245 Gannett U.S. 14.86 480 584 Coach U.S. 13.10
415 319 Harley-Davidson U.S. 14.79 481 451 Southwest Airlines U.S. 13.08
416 NR XTO Energy U.S. 14.78 482 576 Sompo Japan Insurance Japan 13.05
417 507 Arcelor France 14.70 483 602 Daiwa Securities Group Japan 13.00
418 531 Edison International U.S. 14.70 484 539 National Bank of Greece (NBG) Greece 12.96
419 332 Metro Germany 14.69 485 387 Autostrade Italy 12.92
420 350 Lafarge France 14.69 486 707 North Fork Bancorporation U.S. 12.91
421 378 Bank of Ireland Ireland 14.59 487 283 Sun Microsystems U.S. 12.87
422 410 Scottish & Southern Energy Britain 14.58 488 419 Ricoh Japan 12.87

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RANK MARKET VALUE RANK MARKET VALUE
2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

489 377 Kao Japan 12.86 555 605 Nitto Denko Japan 11.31
490 470 Akzo Nobel Netherlands 12.86 556 631 Sempra Energy U.S. 11.30
491 409 Kyocera Japan 12.85 557 509 Progress Energy U.S. 11.28
492 450 Murata Mfg. Japan 12.85 558 679 Unión Fenosa Spain 11.26
493 363 Apollo Group U.S. 12.79 559 618 Luxottica Group Italy 11.24
494 503 Equity Office Properties Trust U.S. 12.74 560 714 Macquarie Bank Australia 11.22
495 346 Masco U.S. 12.69 561 494 Associated British Foods Britain 11.22
496 459 Bed Bath & Beyond U.S. 12.65 562 557 PPL U.S. 11.18
497 447 TNT Netherlands 12.63 563 390 ConAgra Foods U.S. 11.15
498 545 Wolseley Britain 12.61 564 522 Consolidated Edison U.S. 11.15
499 548 Bear Stearns U.S. 12.54 565 633 Kinder Morgan U.S. 11.10
500 303 Avon Products U.S. 12.54 566 570 TDK Japan 11.09
501 486 Land Securities Britain 12.54 567 NR D.R. Horton U.S. 11.08
502 744 Harrah’s Entertainment U.S. 12.51 568 NR Toyota Industries Japan 11.07
503 384 Mediaset Italy 12.44 569 712 ProLogis U.S. 11.04
504 314 Lucent Technologies U.S. 12.41 570 682 Nabors Industries U.S. 11.04
505 628 Capitalia Italy 12.41 571 510 United Microelectronics Taiwan 11.02
506 236 General Motors U.S. 12.38 572 617 Eisai Japan 11.01
507 844 Shinhan Financial Group Korea 12.35 573 766 Deutsche Börse Germany 11.01
508 653 Continental Germany 12.33 574 637 Accor France 11.00
509 477 Campbell Soup U.S. 12.33 575 549 Nippon Oil Japan 10.99
510 601 Brookfield Asset Management Canada 12.32 576 734 Rinker Group Australia 10.92
511 417 Nortel Networks Canada 12.32 577 551 Tokyo Electron Japan 10.82
512 624 Williams U.S. 12.32 578 732 Pulte Homes U.S. 10.76
513 395 Schering Germany 12.31 579 569 St. George Bank Australia 10.76
514 851 Express Scripts U.S. 12.30 580 596 Electricidade de Portugal Portugal 10.74
515 586 Georgia-Pacific U.S. 12.25 581 648 Enbridge Canada 10.72
516 491 Dai Nippon Printing Japan 12.24 582 511 Network Appliance U.S. 10.71
517 437 Gas Natural SDG Spain 12.23 583 579 Ameren U.S. 10.71
518 452 M&T Bank U.S. 12.20 584 829 Rogers Communications Canada 10.71
519 535 J.C. Penney U.S. 12.17 585 496 Tokyo Gas Japan 10.70
520 404 Paccar U.S. 12.16 586 369 Portugal Telecom Portugal 10.69
521 609 Atlas Copco Sweden 12.16 587 555 AMP Ltd. Australia 10.61
522 536 GBL (Groupe Bruxelles Lambert) Belgium 12.16 588 492 Rohm Japan 10.59
523 NR Weatherford International U.S. 12.08 589 NR Freescale Semiconductor U.S. 10.58
524 481 Electronic Data Systems U.S. 12.01 590 659 CSX U.S. 10.57
525 NR Vornado Realty Trust U.S. 12.00 591 396 Stora Enso Finland 10.56
526 724 ITOCHU Japan 11.98 592 NR National Oilwell Varco U.S. 10.56
527 467 Altadis Spain 11.98 593 694 Advanced Micro Devices U.S. 10.52
528 416 Maxim Integrated Products U.S. 11.98 594 720 QBE Insurance Group Australia 10.52
529 476 Hong Kong & China Gas Hong Kong 11.91 595 667 OTE Greece 10.51
530 613 Brambles Industries (6) Aust./Brit. 11.88 596 675 Sumitomo Electric Industries Japan 10.50
531 465 BAA Britain 11.84 597 630 Safeway U.S. 10.45
532 658 BJ Services U.S. 11.79 598 550 Textron U.S. 10.44
533 670 Banca Monte dei Paschi di Siena (BMPS) Italy 11.76 599 493 TJX U.S. 10.44
534 572 Equity Residential U.S. 11.75 600 639 Nucor U.S. 10.44
535 488 Koninklijke Ahold Netherlands 11.71 601 571 Hongkong Electric Holdings Hong Kong 10.41
536 422 WPP Group Britain 11.69 602 578 Kirin Brewery Japan 10.38
537 543 Sandvik Sweden 11.68 603 520 Thyssen Krupp Germany 10.37
538 521 NEC Japan 11.68 604 NR Ameriprise Financial U.S. 10.35
539 623 TDC Denmark 11.67 605 652 Sumitomo Chemical Japan 10.33
540 763 Aon U.S. 11.65 606 674 AES U.S. 10.29
541 533 Keyence Japan 11.64 607 563 China Unicom Hong Kong 10.29
542 538 Copec Chile 11.62 608 796 Sunoco U.S. 10.20
543 427 H.J. Heinz U.S. 11.62 609 708 Grupo ACS Spain 10.19
544 598 Secom Japan 11.61 610 736 Kubota Japan 10.16
545 517 Syngenta Switzerland 11.56 611 479 PPG Industries U.S. 10.14
546 534 Northern Trust U.S. 11.50 612 625 Rockwell Automation U.S. 10.14
547 643 Rolls-Royce Group Britain 11.49 613 581 Kyushu Electric Power Japan 10.12
548 337 Research In Motion Canada 11.49 614 577 Quest Diagnostics U.S. 10.11
549 606 LG Electronics Korea 11.45 615 622 KLA-Tencor U.S. 10.11
550 473 Linear Technology U.S. 11.42 616 567 Old Mutual Britain 10.09
551 662 Amerada Hess U.S. 11.40 617 594 Marshall & Ilsley U.S. 10.08
552 495 Fortune Brands U.S. 11.39 618 453 International Game Technology U.S. 10.08
553 526 OCBC Bank Singapore 11.35 619 677 ITT Industries U.S. 10.04
554 846 Nexen Canada 11.33 620 580 Kerr-McGee U.S. 10.03

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2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

621 604 Gallaher Group Britain 9.99 687 704 Mitsui O.S.K. Lines Japan 8.83
622 530 Alleanza Assicurazioni Italy 9.97 688 739 Grupo Televisa Mexico 8.83
623 524 Reuters Group Britain 9.96 689 767 MedImmune U.S. 8.83
624 556 Suzuki Motor Japan 9.95 690 742 Fresenius Medical Care Germany 8.81
625 791 Nordstrom U.S. 9.95 691 646 Synovus Financial U.S. 8.79
626 645 NTT Data Japan 9.94 692 755 Micron Technology U.S. 8.79
627 502 Wesfarmers Australia 9.94 693 690 The British Land Company Britain 8.79
628 485 George Weston Canada 9.93 694 931 Kobe Steel Japan 8.73
629 610 CIT Group U.S. 9.91 695 593 Albertson’s U.S. 8.67
630 394 Tribune U.S. 9.89 696 636 J. Sainsbury Britain 8.61
631 471 UPM-Kymmene Finland 9.88 697 698 Serono Switzerland 8.61
632 627 Eletrobrás (Centrais Elétricas Brasileiras) Brazil 9.87 698 591 Adecco Switzerland 8.55
633 772 Noble U.S. 9.87 699 717 Linde Germany 8.55
634 837 Cameco Canada 9.84 700 756 Hermes International France 8.55
635 757 Grupo Ferrovial Spain 9.77 701 607 Ecolab U.S. 8.52
636 687 United Utilities Britain 9.76 702 686 3i Group Britain 8.49
637 719 Qwest Communications International U.S. 9.73 703 741 Essilor International France 8.48
638 554 Rohm and Haas U.S. 9.70 704 770 Esprit Holdings Hong Kong 8.46
639 NR Coventry Health Care U.S. 9.68 705 603 Formosa Chemicals & Fibre Taiwan 8.45
640 673 SMC Japan 9.66 706 700 FIserv U.S. 8.45
641 565 Lagardère SCA France 9.66 707 666 Singapore Airlines Singapore 8.43
642 612 BOC Group Britain 9.61 708 709 Advantest Japan 8.42
643 650 Intuit U.S. 9.60 709 814 Brown-Forman U.S. 8.40
644 789 Toray Industries Japan 9.60 710 641 Foster’s Group Australia 8.37
645 738 Freeport-McMoRan Copper & Gold U.S. 9.59 711 672 Hilton Hotels U.S. 8.36
646 819 Banca Nazionale del Lavoro Italy 9.56 712 794 Chiron U.S. 8.35
647 703 Autodesk U.S. 9.54 713 574 Smith & Nephew Britain 8.34
648 615 Placer Dome Canada 9.54 714 661 Formosa Plastics Taiwan 8.33
649 525 Comerica U.S. 9.53 715 777 AmerisourceBergen U.S. 8.31
650 568 Takefuji Japan 9.53 716 632 MBIA U.S. 8.28
651 544 Pitney Bowes U.S. 9.50 717 527 Snam Rete Gas Italy 8.27
652 655 Smiths Group Britain 9.50 718 735 Inco Canada 8.25
653 504 Acom Japan 9.46 719 935 Endesa Chile Chile 8.23
654 683 Constellation Energy Group U.S. 9.45 720 654 Dover U.S. 8.20
655 620 Man Group Britain 9.45 721 611 Parker Hannifin U.S. 8.19
656 540 Eaton U.S. 9.43 722 753 Wm. Morrison Supermarkets Britain 8.18
657 695 T. Rowe Price Group U.S. 9.38 723 705 CINergy U.S. 8.18
658 592 Solvay Belgium 9.35 724 472 Clorox U.S. 8.18
659 582 Pearson Britain 9.35 725 621 Promise Japan 8.14
660 561 Univision Communications U.S. 9.34 726 558 Svenska Cellulosa (SCA) Sweden 8.12
661 529 XL Capital U.S. 9.33 727 669 Publishing and Broadcasting Australia 8.11
662 541 Computer Sciences U.S. 9.29 728 663 Banco Comercial Português Portugal 8.10
663 600 AmSouth Bancorporation U.S. 9.27 729 678 Sekisui House Japan 8.10
664 711 ASML Holding Netherlands 9.27 730 619 Ambac Financial Group U.S. 8.06
665 832 Teck Cominco Canada 9.24 731 728 adidas-Salomon Germany 8.06
666 508 Xilinx U.S. 9.21 732 664 Potash Corp. of Saskatchewan Canada 8.05
667 680 Hilton Group Britain 9.19 733 681 H&R Block U.S. 8.04
668 774 Centex U.S. 9.18 734 647 American Standard U.S. 8.00
669 NR Murphy Oil U.S. 9.18 735 726 Suncorp-Metway Australia 8.00
670 NR Anglo Irish Bank Ireland 9.16 736 644 Telecom Corp. of New Zealand New Zealand 7.99
671 587 Coles Myer Australia 9.14 737 807 Tele Norte Leste Participações Brazil 7.96
672 879 Office Depot U.S. 9.14 738 817 Asustek Computer Taiwan 7.96
673 NR Lennar U.S. 9.11 739 NR Sumitomo Realty & Development Japan 7.94
674 559 Coca-Cola Enterprises U.S. 9.10 740 696 VNU Netherlands 7.93
675 434 Kingfisher Britain 9.08 741 768 Fisher Scientific International U.S. 7.90
676 NR Public Storage U.S. 9.04 742 731 Rockwell Collins U.S. 7.88
677 668 Lincoln National U.S. 9.00 743 575 Compass Group Britain 7.87
678 NR L-3 Communications Holdings U.S. 8.94 744 861 Banco Santander Santiago Chile 7.86
679 552 Limited Brands U.S. 8.93 745 727 Asahi Kasei Japan 7.86
680 546 Nan Ya Plastics Taiwan 8.91 746 699 Sovereign Bancorp U.S. 7.83
681 841 National Semiconductor U.S. 8.89 747 651 Michelin France 7.82
682 635 Swatch Group Switzerland 8.89 748 745 Fiat Group Italy 7.80
683 867 Falconbridge Canada 8.88 749 723 Finmeccanica Italy 7.80
684 456 Biomet U.S. 8.87 750 701 Cincinnati Financial U.S. 7.79
685 NR Archstone-Smith Trust U.S. 8.86 751 1170 ALSTOM France 7.79
686 747 National Bank of Canada Canada 8.85 752 691 DTE Energy U.S. 7.76

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RANK MARKET VALUE RANK MARKET VALUE
2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

753 514 China Steel Taiwan 7.74 819 902 Marui Japan 6.61
754 693 Genuine Parts U.S. 7.69 820 649 Fubon Financial Holding Taiwan 6.59
755 1166 ITV Britain 7.69 821 830 KT&G Korea 6.58
756 660 West Japan Railway Japan 7.67 822 921 UnumProvident U.S. 6.56
757 780 Orkla Norway 7.67 823 855 AXA Asia Pacific Holdings Australia 6.55
758 806 Daiwa House Industry Japan 7.67 824 838 Porsche Germany 6.52
759 NR Shinsei Bank Japan 7.63 825 932 Scientific-Atlanta U.S. 6.50
760 808 Hanson Britain 7.59 826 918 Robert Half International U.S. 6.48
761 589 Boots Group Britain 7.57 827 713 Ajinomoto Japan 6.45
762 899 Enersis Chile 7.55 828 946 Fluor U.S. 6.43
763 823 Credit Saison Japan 7.53 829 NR Friends Provident Britain 6.42
764 785 BPU Banca Group Italy 7.53 830 878 Ryanair Holdings Ireland 6.40
765 684 Cintas U.S. 7.52 831 907 Sodexho Alliance France 6.35
766 689 Magna International Canada 7.48 832 782 Newell Rubbermaid U.S. 6.33
767 990 Humana U.S. 7.46 833 810 Dassault Systemes France 6.31
768 722 Xcel Energy U.S. 7.46 834 847 TonenGeneral Sekiyu Japan 6.31
769 771 Nippon Yusen Japan 7.45 835 718 UST U.S. 6.31
770 761 Jefferson-Pilot U.S. 7.44 836 799 VF U.S. 6.28
771 685 R.R. Donnelley U.S. 7.43 837 839 W.W. Grainger U.S. 6.28
772 956 Marubeni Japan 7.43 838 825 S.A.C.I. Falabella Chile 6.27
773 762 Yamato Holdings Japan 7.41 839 816 Macquarie Infrastructure Group Australia 6.27
774 740 Thales France 7.38 840 665 Next Britain 6.26
775 715 Scottish & Newcastle Britain 7.36 841 929 Embraer Brazil 6.25
776 716 Toppan Printing Japan 7.34 842 961 Exel Britain 6.25
777 721 Osaka Gas Japan 7.32 843 905 P&O Britain 6.24
778 840 MAN Germany 7.31 844 843 NCR U.S. 6.24
779 875 E*Trade Financial U.S. 7.31 845 862 JSR Japan 6.21
780 NR Dentsu Japan 7.28 846 725 Insurance Australia Group Australia 6.19
781 760 El Paso U.S. 7.25 847 1051 NVIDIA U.S. 6.19
782 697 Groupe UCB Belgium 7.19 848 583 InterContinental Hotels Group Britain 6.19
783 730 Banco Popolare di Verona e Novara Italy 7.19 849 797 Publicis France 6.18
784 NR Shoppers Drug Mart Canada 7.18 850 831 Kintetsu Japan 6.17
785 737 Daikin Industries Japan 7.18 851 845 Deutsche Lufthansa Germany 6.15
786 752 Plum Creek Timber U.S. 7.17 852 882 Gerdau Brazil 6.14
787 710 ALTANA Germany 7.16 853 815 Northern Rock Britain 6.07
788 733 Pepsi Bottling Group U.S. 7.14 854 821 Stockland Australia 6.07
789 822 Koninklijke DSM Netherlands 7.11 855 NR Compass Bancshares U.S. 6.03
790 892 Hospira U.S. 7.10 856 NR Yell Group Britain 6.01
791 657 Casino Guichard-Perrachon France 7.04 857 811 Severn Trent Britain 6.01
792 790 Safeco U.S. 6.98 858 842 Tabcorp Holdings Australia 6.01
793 692 Affiliated Computer Services U.S. 6.93 859 787 CITIC Pacific Hong Kong 6.01
794 765 Laboratory Corp. of America Holdings U.S. 6.93 860 783 Sherwin-Williams U.S. 6.00
795 911 FEMSA Mexico 6.92 861 776 Dollar General U.S. 5.99
796 754 Black & Decker U.S. 6.89 862 1035 Cemig Brazil 5.98
797 702 Alliance & Leicester Britain 6.89 863 NR Tyson Foods U.S. 5.97
798 588 Eastman Kodak U.S. 6.88 864 835 Wolters Kluwer Netherlands 5.95
799 784 Matsushita Electric Works Japan 6.86 865 912 Shire Britain 5.95
800 820 Koninklijke Numico Netherlands 6.86 866 908 SKF Sweden 5.94
801 NR Goldcorp Canada 6.85 867 764 MGIC Investment U.S. 5.94
802 818 Tokyu Japan 6.84 868 813 Avery Dennison U.S. 5.89
803 874 Canadian Pacific Railway Canada 6.83 869 642 Chinatrust Financial Holdings Taiwan 5.89
804 750 AutoZone U.S. 6.82 870 978 Wendy’s International U.S. 5.89
805 801 Zions Bancorporation U.S. 6.81 871 906 Li & Fung Hong Kong 5.89
806 786 C.R. Bard U.S. 6.80 872 824 NiSource U.S. 5.87
807 885 Hypo Real Estate Holding Germany 6.80 873 781 KeySpan U.S. 5.85
808 758 Electrolux Sweden 6.79 874 850 GPT Group Australia 5.85
809 863 Vulcan Materials U.S. 6.79 875 923 British Airways Britain 5.85
810 887 Jabil Circuit U.S. 6.77 876 805 Cathay Pacific Airways Hong Kong 5.84
811 638 Altera U.S. 6.75 877 1034 KB Home U.S. 5.82
812 676 Mattel U.S. 6.72 878 930 Skanska Sweden 5.82
813 886 NIPPONKOA Insurance Japan 6.71 879 792 Asahi Breweries Japan 5.80
814 671 Infineon Technologies Germany 6.70 880 852 CSN (Cia. Siderúrgica Nacional) Brazil 5.80
815 812 Shiseido Japan 6.69 881 939 Tiffany U.S. 5.80
816 856 Imperial Chemical Industries Britain 6.68 882 859 Health Management Associates U.S. 5.79
817 966 BPB Britain 6.67 883 948 Sumitomo Metal Mining Japan 5.76
818 795 Cooper Industries U.S. 6.66 884 980 CSL Australia 5.76

126 | BusinessWeek | December 26, 2005

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RANK MARKET VALUE RANK MARKET VALUE


2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

885 977 Royal & Sun Alliance Insurance Group Britain 5.72 951 989 Citrix Systems U.S. 4.75
886 1078 Molson Coors Brewing U.S. 5.68 952 952 Johnson Matthey Britain 4.74
887 870 IMS Health U.S. 5.66 953 1005 Goodrich U.S. 4.73
888 975 Grupo Carso Mexico 5.65 954 864 Banco Espírito Santo Portugal 4.72
889 957 Skandia Forsakring Sweden 5.62 955 1042 Temple-Inland U.S. 4.70
890 802 Torchmark U.S. 5.62 956 965 Shaw Communications Canada 4.69
891 706 Avaya U.S. 5.62 957 891 NOK Japan 4.64
892 893 Nippon Express Japan 5.60 958 934 Tate & Lyle Britain 4.62
893 860 All Nippon Airways Japan 5.59 959 894 Mediolanum Italy 4.62
894 769 Taisho Pharmaceutical Japan 5.55 960 970 Banco de Chile Chile 4.60
895 881 Siebel Systems U.S. 5.54 961 1021 Tellabs U.S. 4.60
896 900 Amvescap Britain 5.54 962 1110 Mitsubishi Materials Japan 4.60
897 759 Thomson France 5.54 963 1039 Monster Worldwide U.S. 4.59
898 505 Lexmark International U.S. 5.52 964 962 Hammerson Britain 4.58
899 926 The Australian Gas Light Co. Australia 5.51 965 1000 Taisei Japan 4.56
900 854 Terumo Japan 5.50 966 888 Amcor Australia 4.56
901 836 Huntington Bancshares U.S. 5.49 967 NR Hyundai Heavy Industries Korea 4.55
902 953 Whirlpool U.S. 5.48 968 1104 Allegheny Energy U.S. 4.53
903 872 Alumina Australia 5.47 969 960 Eastman Chemical U.S. 4.50
904 903 AutoNation U.S. 5.42 970 NR Macquarie Goodman Group Australia 4.50
905 746 TF1 Télévision Francaise 1 France 5.40 971 1008 Singapore Technologies Engineering Singapore 4.50
906 804 United States Steel U.S. 5.40 972 904 Mylan Laboratories U.S. 4.49
907 1002 Keppel Singapore 5.39 973 933 Capita Group Britain 4.49
908 950 Darden Restaurants U.S. 5.39 974 1003 Schroders Britain 4.49
909 910 Banca Fideuram Italy 5.38 975 958 Supervalu U.S. 4.46
910 809 JS Group Japan 5.38 976 947 Slough Estates Britain 4.45
911 827 Daily Mail & General Trust Britain 5.37 977 973 Sigma-Aldrich U.S. 4.44
912 848 Securitas Sweden 5.34 978 972 BMC Software U.S. 4.43
913 775 Oriental Land Japan 5.34 979 828 Leggett & Platt U.S. 4.38
914 924 Kajima Japan 5.30 980 982 American Power Conversion U.S. 4.38
915 880 Qantas Airways Australia 5.29 981 913 Citizens Communications U.S. 4.37
916 NR Enterprise Inns Britain 5.27 982 969 Mitsui Chemicals Japan 4.36
917 964 Comverse Technology U.S. 5.27 983 NR Aristocrat Leisure Australia 4.35
918 955 Hirose Electric Japan 5.23 984 967 Yue Yuen Industrial (Holdings) Hong Kong 4.35
919 1069 NGK Insulators Japan 5.22 985 833 Waters U.S. 4.35
920 NR Constellation Brands U.S. 5.22 986 1057 Bausch & Lomb U.S. 4.35
921 793 Oji Paper Japan 5.21 987 NR PUMA AG Rudolf Dassler Sport Germany 4.34
922 959 Cap Gemini France 5.21 988 943 CenturyTel U.S. 4.34
923 979 Shimizu Japan 5.19 989 890 Ball U.S. 4.33
924 985 Applied Biosystems Group U.S. 5.18 990 919 Corus Group Britain 4.28
925 940 Newcrest Mining Australia 5.18 991 949 Sealed Air U.S. 4.25
926 915 Sage Group Britain 5.15 992 927 JDS Uniphase U.S. 4.25
927 857 Assa Abloy Sweden 5.13 993 1080 Dofasco Canada 4.24
928 937 Obayashi Japan 5.10 994 998 Bankinter Spain 4.23
929 NR Rexam Britain 5.09 995 928 Singapore Press Holdings Singapore 4.23
930 NR Teijin Japan 5.09 996 936 Whitbread Britain 4.18
931 751 MeadWestvaco U.S. 5.08 997 897 McCormick U.S. 4.18
932 925 Empresas CMPC Chile 5.08 998 993 Janus Capital Group U.S. 4.17
933 898 Rentokil Initial Britain 5.06 999 788 Sanyo Electric Japan 4.14
934 1053 Swiss Life Holding Switzerland 5.05 1000 954 Ashland U.S. 4.14
935 853 DSG international Britain 5.01 1001 992 Kimberly-Clark de México Mexico 4.14
936 909 Thermo Electron U.S. 5.00 1002 1004 Lend Lease Australia 4.13
937 834 Japan Airlines Japan 5.00 1003 1016 Origin Energy Australia 4.12
938 873 Molex U.S. 4.99 1004 974 Orica Australia 4.11
939 865 Givaudan Switzerland 4.97 1005 981 Pinnacle West Capital U.S. 4.11
940 1019 Equifax U.S. 4.97 1006 1032 CenterPoint Energy U.S. 4.10
941 987 Santos Australia 4.94 1007 868 Knight-Ridder U.S. 4.08
942 876 Cable & Wireless Britain 4.94 1008 1077 TransAlta Canada 4.08
943 889 Quanta Computer Taiwan 4.91 1009 547 Elan Ireland 4.06
944 1031 Samsung Fire & Marine Insurance Korea 4.91 1010 1123 Kawasaki Heavy Industries Japan 4.04
945 858 First Horizon National U.S. 4.90 1011 920 ATI Technologies Canada 4.04
946 748 Konica Minolta Holdings Japan 4.88 1012 997 Stanley Works U.S. 4.01
947 866 BRISA Portugal 4.85 1013 869 Interpublic Group U.S. 4.01
948 NR Patterson Companies U.S. 4.82 1014 963 Alberto-Culver U.S. 4.00
949 942 Randstad Holding Netherlands 4.78 1015 1029 Cummins U.S. 4.00
950 1007 Canadian Tire Canada 4.75 1016 983 Coca-Cola Amatil Australia 4.00

December 26, 2005 | BusinessWeek | 127

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THE BUSINESSWEEK GLOBAL 1200


RANK MARKET VALUE RANK MARKET VALUE
2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

1017 803 New York Times U.S. 3.99 1083 984 NOVA Chemicals Canada 3.18
1018 1099 Lonmin Britain 3.98 1084 1154 Sociedad Química y Minera de Chile (SQM) Chile 3.17
1019 NR Transurban Group Australia 3.96 1085 1088 LogicaCMG Britain 3.16
1020 1045 Furukawa Electric Japan 3.95 1086 1023 Toyo Seikan Kaisha Japan 3.13
1021 971 Odakyu Electric Railway Japan 3.93 1087 1043 Toto Japan 3.12
1022 1079 Rowan U.S. 3.92 1088 1025 Trinity Mirror Britain 3.12
1023 1056 Federated Investors U.S. 3.92 1089 1067 Manor Care U.S. 3.10
1024 871 Ciba Spezialitätenchemie Switzerland 3.89 1090 1046 Valeo France 3.10
1025 1014 Tomkins Britain 3.86 1091 1090 Clariant Switzerland 3.09
1026 1013 Nippon Television Network Japan 3.86 1092 895 RadioShack U.S. 3.07
1027 1038 Seat Pagine Gialle Italy 3.84 1093 1151 CMS Energy U.S. 3.06
1028 991 Emap Britain 3.83 1094 1048 Unicharm Japan 3.05
1029 896 Nippon Paper Group Japan 3.83 1095 1026 Cognos Canada 3.04
1030 1062 Circuit City Stores U.S. 3.82 1096 1001 International Flavors & Fragrances U.S. 3.04
1031 917 Brunswick U.S. 3.81 1097 1120 Goodyear Tire & Rubber U.S. 3.01
1032 849 China Development Financial Holding Taiwan 3.81 1098 1058 Sabre Holdings U.S. 3.00
1033 1126 Aracruz Celulose Brazil 3.81 1099 1083 PerkinElmer U.S. 2.97
1034 1063 King Pharmaceuticals U.S. 3.80 1100 1113 Novell U.S. 2.97
1035 1040 SAFRAN France 3.79 1101 1111 FinecoGroup Italy 2.96
1036 976 Promina Group Australia 3.79 1102 1105 Fairmont Hotels & Resorts Canada 2.95
1037 1022 Johnson Electric Holdings Hong Kong 3.77 1103 1112 Baloise Holding Switzerland 2.94
1038 941 Liz Claiborne U.S. 3.75 1104 1059 United Business Media Britain 2.91
1039 1108 Biovail Canada 3.72 1105 1012 Pactiv U.S. 2.90
1040 901 Family Dollar Stores U.S. 3.72 1106 1068 Bemis U.S. 2.90
1041 914 BlueScope Steel Australia 3.72 1107 1146 Fujikura Japan 2.89
1042 988 TUI Germany 3.71 1108 1097 IMI Britain 2.89
1043 1030 Apartment Investment & Management U.S. 3.71 1109 1017 Symbol Technologies U.S. 2.88
1044 1050 Watson Pharmaceuticals U.S. 3.70 1110 1044 Teradyne U.S. 2.88
1045 1010 Swedish Match Sweden 3.68 1111 1132 James Hardie Industries Australia 2.86
1046 883 Tenet Healthcare U.S. 3.67 1112 1135 ARM Holdings Britain 2.85
1047 1037 Hasbro U.S. 3.65 1113 1085 Louisiana-Pacific U.S. 2.85
1048 1066 Teco Energy U.S. 3.64 1114 1024 Dow Jones U.S. 2.83
1049 1054 Kuraray Japan 3.63 1115 1047 John Fairfax Holdings Australia 2.82
1050 1055 GKN Britain 3.62 1116 1115 Petrobras Energía Participaciones Argentina 2.78
1051 986 Hays Britain 3.62 1117 1073 Allied Waste Industries U.S. 2.78
1052 1033 Bombardier Canada 3.62 1118 1049 Qlogic U.S. 2.76
1053 1009 CIMPOR-Cimentos de Portugal Portugal 3.61 1119 938 Agfa-Gevaert Belgium 2.76
1054 999 Bunzl Britain 3.60 1120 1065 Provident Financial Britain 2.72
1055 NR Yakult Honsha Japan 3.60 1121 1028 Ryder System U.S. 2.72
1056 1119 Compuware U.S. 3.58 1122 1076 Holmen Sweden 2.69
1057 NR William Hill Britain 3.57 1123 1109 Agrium Canada 2.68
1058 1015 Engelhard U.S. 3.54 1124 1167 Vestas Wind Systems Denmark 2.61
1059 1095 NSK Japan 3.52 1125 1084 Kinross Gold Canada 2.59
1060 995 Acerinox Spain 3.50 1126 1086 BBA Group Britain 2.59
1061 1060 Boral Australia 3.48 1127 1100 Mirvac Group Australia 2.56
1062 1041 Pall U.S. 3.45 1128 1089 Meredith U.S. 2.51
1063 1118 Reebok International U.S. 3.45 1129 1133 AWG Britain 2.49
1064 798 Solectron U.S. 3.44 1130 1036 Pioneer Japan 2.42
1065 944 Pirelli Italy 3.43 1131 996 Mercury Interactive U.S. 2.41
1066 1052 Nissin Food Products Japan 3.42 1132 1138 ADC Telecommunications U.S. 2.38
1067 1072 Brasil Telecom Participações Brazil 3.40 1133 1094 Celestica Canada 2.38
1068 1188 Group 4 Securicor Britain 3.39 1134 1092 FirstGroup Britain 2.37
1069 1064 Mitchells & Butlers Britain 3.38 1135 1070 Nippon Meat Packers Japan 2.34
1070 945 Jones Apparel Group U.S. 3.36 1136 1128 Convergys U.S. 2.32
1071 1091 Pilkington Britain 3.34 1137 1121 Aegis Group Britain 2.30
1072 1027 Rank Group Britain 3.34 1138 1082 Kesa Electricals Britain 2.26
1073 NR ACE Aviation Holdings Canada 3.34 1139 NR Telefónica CTC Chile Chile 2.24
1074 1106 Millipore U.S. 3.32 1140 1114 MDS Canada 2.23
1075 NR Macquarie Airports Australia 3.30 1141 1157 Distribución y Servicio (D&S) Chile 2.23
1076 1006 Novellus Systems U.S. 3.29 1142 1148 Grupo Modelo Mexico 2.18
1077 1075 ALFA Mexico 3.26 1143 922 Sanmina-SCI U.S. 2.18
1078 1107 Mitsui Mining & Smelting Japan 3.26 1144 1142 Snap-on U.S. 2.16
1079 1129 Allegheny Technologies U.S. 3.22 1145 1093 Tektronix U.S. 2.13
1080 1134 LSI Logic U.S. 3.21 1146 1124 MLP Germany 2.13
1081 1061 Cobham Britain 3.21 1147 1165 Buhrmann Netherlands 2.13
1082 1018 EMI Group Britain 3.20 1148 1177 COPEL Brazil 2.11

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THE BUSINESSWEEK GLOBAL 1200


RANK MARKET VALUE RANK MARKET VALUE
2005 2004 COMPANY COUNTRY Billions of U.S. Dollars 2005 2004 COMPANY COUNTRY Billions of U.S. Dollars

1149 1117 Misys Britain 2.10 1169 1149 Peoples Energy U.S. 1.37
1150 994 Unisys U.S. 2.10 1170 1150 Hercules U.S. 1.33
1151 1087 OfficeMax U.S. 2.06 1171 1144 Quebecor World Canada 1.29
1152 1122 Benetton Group Italy 2.03 1172 1172 Cookson Group Britain 1.26
1153 1074 Navistar International U.S. 1.99 1173 1181 Tomra Systems Norway 1.26
1154 1103 Electrocomponents Britain 1.94 1174 1180 WH Smith Britain 1.22
1155 1125 Dynegy U.S. 1.92 1175 1081 Domtar Canada 1.22
1156 1152 Nicor U.S. 1.77 1176 1162 FKI Britain 1.14
1177 1098 Gateway U.S. 1.13
1157 1116 Andrew U.S. 1.76
1178 1101 Dana U.S. 1.05
1158 1127 Symbion Health Australia 1.73
1179 1145 Cott Canada 0.98
1159 1131 Dillard’s U.S. 1.73
1180 1158 Cooper Tire & Rubber U.S. 0.90
1160 1163 Ciena U.S. 1.72
1181 1178 Visteon U.S. 0.87
1161 1139 INVENSYS Britain 1.72 1182 1184 Dimension Data Holdings Britain 0.86
1162 1156 Parametric Technology U.S. 1.60 1183 1179 EPCOS Germany 0.81
1163 1071 Abitibi-Consolidated Canada 1.45 1184 1169 Spirent Britain 0.80
1164 1137 PMC-Sierra U.S. 1.44 1185 1176 Applied Micro Circuits U.S. 0.80
1165 1155 Maytag U.S. 1.43 1186 1186 Grupo Financiero Galicia Argentina 0.70
1166 NR Novelis Canada 1.41 1187 1130 Calpine U.S. 0.29
1167 1168 Big Lots U.S. 1.40 NR 773 Mitsubishi Chemical Holdings Japan NA
1168 1161 Tiscali Italy 1.37 NR NR UNIBANCO – União de Bancos Brasileiros Brazil NA

Alphabetical List of Companies


The number following each company is its Global 1200 rank.

A Alumina 903 Automatic Data 205 Big Lots 1167 Capital One Financial 272
A.P. Moller-Maersk 149 Amazon.com 302 AutoNation 904 Biogen Idec 424 Capitalia 505
ABB 335 Ambac Financial 730 Autostrade 485 Biomet 684 Cardinal Health 202
Abbott Laboratories 80 AmBev 239 AutoZone 804 Biovail 1039 Caremark Rx 261
Abertis Infraestructuras 399 Amcor 966 Avaya 891 BJ Services 532 Carnival 119
Abitibi-Consolidated 1163 Amerada Hess 551 Avery Dennison 868 Black & Decker 796 Carrefour 183
ABN AMRO 135 Ameren 583 Aviva 200 Block (H&R) 733 Casino Guichard-Perrachon 791
Accor 574 America Movil 152 Avon Products 500 BlueScope Steel 1041 Caterpillar 143
ACE 381 American Electric Power 428 AWG 1129 BMC Software 978 Cathay Financial Hldgs. 407
ACE Aviation Hldgs. 1073 American Express 70 Axa 83 BMPS 533 Cathay Pacific Airways 876
Acerinox 1060 American Intl. Grp. 12 AXA Asia Pacific Hldgs. 823 BMW 190 Celestica 1133
Acom 653 American Power Conversion 980 BNP Paribas 65 CEMEX 289
American Standard 734 B BOC Grp. 642 Cemig 862
ADC Telecomm. 1132
Adecco 698 Ameriprise Finl. 604 BAA 531 BOC Hong Kong 299 Cendant 331
adidas-Salomon 731 AmerisourceBergen 715 BAE Systems 325 Boeing 98 CenterPoint Energy 1006
Adobe Systems 379 Amgen 33 Baker Hughes 312 Bombardier 1052 Centex 668
Advanced Micro Devices 593 AMP Ltd. 587 Ball 989 Boots Grp. 761 Central Japan Railway 319
Advantest 708 AmSouth Bancorporation 663 Baloise Holding 1103 Boral 1061 Centrica 409
Aegis Grp. 1137 Amvescap 896 Banca Fideuram 909 Boston Scientific 280 CenturyTel 988
Aegon 231 Anadarko Petroleum 284 Banca Intesa 168 Bouygues 385 Cheung Kong 233
Aeon 376 Analog Devices 446 Banca Nazionale Lavoro 646 BP 5 Chevron 24
AES 606 Andrew 1157 Banco Bradesco 193 BPB 817 China Development Finl. 1032
Aetna 211 Anglo American 118 Banco Comercial Português 728 BPU Banca Grp. 764 China Mobile (Hong Kong) 36
Affiliated Computer Svcs. 793 Anglo Irish Bank 670 Banco de Chile 960 Brambles Industries 530 China Steel 753
AFLAC 241 Anheuser-Busch 161 Banco Espírito Santo 954 Brasil Telecom Part. 1067 China Unicom 607
AGF 346 Aon 540 Banco Itaú Hldg. Fin. 207 Bridgestone 350 Chinatrust Financial 869
Agfa-Gevaert 1119 Apache 282 Banco Pop. di Verona e Novara 783 BRISA 947 Chiron 712
Agilent Technologies 329 Apartment Investment 1043 Banco Popular Espanol 451 Bristol-Myers Squibb 134 Christian Dior 393
Agrium 1123 Apollo Grp. 493 Banco Santander 47 British Airways 875 Chubb 318
Ahold (Kon.) 535 Apple Computer 89 Banco Santander Santiago 744 British American Tobacco 120 Chubu Electric Power 348
Air Liquide (L’) 317 Applied Biosystems 924 Bank of America 9 British Land 693 Ciba Spezialitätenchemie 1024
Air Products & Chemicals 476 Applied Materials 191 Bank of Ireland 421 British Sky Broadcasting 384 Ciena 1160
Ajinomoto 827 Applied Micro Circuits 1185 Bank of Montreal 206 Broadcom 382 Cigna 438
Akzo Nobel 490 Aracruz Celulose 1033 Bank of New York 226 Brookfield Asset Mgmt. 510 CIMPOR 1053
Alberto-Culver 1014 Arcelor 417 Bank of Nova Scotia 148 Brown-Forman 709 Cincinnati Financial 750
Albertson’s 695 Archer Daniels Midland 397 Bankinter 994 Brunswick 1031 CINergy 723
Alcan 434 Archstone-Smith Trust 685 Barclays 66 BT Grp. 176 Cintas 765
Alcatel 377 Aristocrat Leisure 983 Bard (C.R.) 806 Buhrmann 1147 Circuit City Stores 1030
Alcoa 242 ARM Hldgs. 1112 Barrick Gold 436 Bunzl 1054 Cisco Systems 28
ALFA 1077 Asahi Breweries 879 BASF 140 Burlington Nthn. Santa Fe 230 CIT Grp. 629
All Nippon Airways 893 Asahi Glass 460 Bausch & Lomb 986 Burlington Resources 203 CITIC Pacific 859
Alleanza Assicurazioni 622 Asahi Kasei 745 Baxter Intl. 237 Citigroup 4
Allegheny Energy 968 Ashland 1000 Bayer 192 C Citizens Communs. 981
Allegheny Tech. 1079 ASML Holding 664 BB&T 252 Cable & Wireless 942 Citrix Systems 951
Allergan 473 Assa Abloy 927 BBA Grp. 1126 Cadbury Schweppes 304 Clariant 1091
Alliance & Leicester 797 Assicurazioni Generali 142 BBVA 76 Calpine 1187 Clear Channel Communs. 339
Allianz 95 Associated British Foods 561 BCE 276 Cameco 634 Clorox 724
Allied Irish Banks 306 Astellas Pharma 270 Bear Stearns 499 Campbell Soup 509 CLP Hldgs. 433
Allied Waste Inds. 1117 AstraZeneca 51 Becton, Dickinson 423 Canadian Imperial Bank 266 CMS Energy 1093
Allstate 154 Asustek Computer 738 Bed Bath & Beyond 496 Canadian National Railway 262 CNOOC 204
Alltel 219 AT&T 35 BellSouth 106 Canadian Natural Resources 235 Coach 480
ALSTOM 751 ATI Technologies 1011 Bemis 1106 Canadian Pacific Railway 803 Cobham 1081
Altadis 527 Atlas Copco 521 Benetton Grp. 1152 Canadian Tire 950 Coca-Cola 31
ALTANA 787 Australia & N.Z. Banking 172 Best Buy 245 Canon 107 Coca-Cola Amatil 1016
Altera 811 Australian Gas Light 899 BG Grp. 167 Cap Gemini 922 Coca-Cola Enterprises 674
Altria Grp. 16 Autodesk 647 BHP Billiton 37 Capita Grp. 973 Cognos 1095

130 | BusinessWeek | December 26, 2005

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Coles Myer 671 Elan 1009 Gilead Sciences 253 Japan Tobacco 216 Marubeni 772
Colgate-Palmolive 197 Electricidade de Portugal 580 Givaudan 939 JDS Uniphase 992 Marui 819
Comcast 87 Electrocomponents 1154 GKN 1050 Jefferson-Pilot 770 Masco 495
Comerica 649 Electrolux 808 GlaxoSmithKline 19 JFE Hldgs. 326 Matsushita Electric Ind. 125
Commerzbank 337 Electronic Arts 358 Goldcorp 801 John Fairfax Hldgs. 1115 Matsushita Electric Works 799
Commonwealth Bank Aust. 138 Electronic Data Systems 524 Golden West 303 Johnson & Johnson 10 Mattel 812
Compass Bancshares 855 Eletrobrás 632 Goldman Sachs Grp. 81 Johnson Controls 461 Maxim Integrated Prods. 528
Compass Grp. 743 Emap 1028 Goodrich 953 Johnson Electric Hldgs. 1037 Maytag 1165
Computer Associates Intl. 367 Embraer 841 Goodyear Tire & Rubber 1097 Johnson Matthey 952 MBIA 716
Computer Sciences 662 EMC 165 GPT Grp. 874 Jones Apparel Grp. 1070 MBNA 164
Compuware 1056 Emerson Electric 179 Grainger (W.W.) 837 JPMorgan Chase 22 McCormick 997
Comverse Tech. 917 EMI Grp. 1082 Group 4 Securicor 1068 JS Grp. 910 McDonald’s 132
ConAgra Foods 563 Empresas CMPC 932 Groupe Danone 201 JSR 845 McGraw-Hill 305
ConocoPhillips 42 Enbridge 581 Groupe UCB 782 McKesson 389
Consolidated Edison 564 EnCana 141 Grupo ACS 609 K,L MDS 1140
Constellation Brands 920 Endesa 199 Grupo Carso 888 Kajima 914 MeadWestvaco 931
Constellation Energy 654 Endesa Chile 719 Grupo Ferrovial 635 Kansai Electric Power 301 Medco Health 369
Continental 508 Enel 113 Grupo Financiero Galicia 1186 Kao 489 Mediaset 503
Convergys 1136 Enersis 762 Grupo Modelo 1142 Kawasaki Heavy Inds. 1010 MedImmune 689
Cookson Grp. 1172 Engelhard 1058 Grupo Televisa 688 KB Home 877 Mediobanca 452
Cooper Industries 818 ENI 27 Guidant 295 KBC Grp. 210 Mediolanum 959
Cooper Tire & Rubber 1180 Entergy 425 GUS 387 Kellogg 330 Medtronic 63
Copec 542 Enterprise Inns 916 Keppel 907 Mellon Financial 441
COPEL 1148 EOG Resources 347 H Kerr-McGee 620 Merck 69
Corning 182 EPCOS 1183 Halliburton 169 Kesa Electricals 1138 Mercury Interactive 1131
Corus Grp. 990 Equifax 940 Hammerson 964 KeyCorp 456 Meredith 1128
Costco Wholesale 248 Equity Office Properties 494 Hang Seng Bank 221 Keyence 541 Merrill Lynch 73
Cott 1179 Equity Residential 534 Hanson 760 KeySpan 873 MetLife 145
Countrywide Finl. 290 Ericsson (LM) 102 Harley-Davidson 415 Kimberly-Clark 198 Metro 419
Coventry Health Care 639 Esprit Hldgs. 704 Harrah’s Entertainment 502 Kimberly-Clark de México 1001 MGIC Investment 867
Crédit Agricole 128 Essilor Intl. 703 Hartford Financial 215 Kinder Morgan 565 Michelin 747
Credit Saison 763 Exel 842 Hasbro 1047 King Pharm. 1034 Micron Technology 692
Credit Suisse Grp. 94 Exelon 160 Hays 1051 Kingfisher 675 Microsoft 3
CRH 439 Express Scripts 514 HBOS 75 Kinross Gold 1125 Millea Hldgs. 195
CSL 884 Exxon Mobil 2 HCA 254 Kintetsu 850 Millipore 1074
CSN 880 Health Mgmt. Assocs. 882 Kirin Brewery 602 Mirvac Grp. 1127
CSX 590 F Heineken 408 KLA-Tencor 615 Misys 1149
Cummins 1015 Fairmont Hotels & Resorts 1102 Heinz (H.J.) 543 Knight-Ridder 1007 Mitchells & Butlers 1069
CVS 275 Falconbridge 683 Henkel 463 Kobe Steel 694 Mitsubishi Chemical NR
Family Dollar Stores 1040 Hennes & Mauritz 259 Kohl’s 386 Mitsubishi Corp. 174
D Fannie Mae 121 Hercules 1170 Komatsu 447 Mitsubishi Electric 427
D&S 1141 Fanuc 338 Hermes Intl. 700 Philips Electronics (Kon.) 157 Mitsubishi Estate 321
Dai Nippon Printing 516 Federated Dept. Stores 340 Hershey 475 Konica Minolta 946 Mitsubishi Heavy Inds. 437
Daiichi Sankyo 459 Federated Investors 1023 Hewlett-Packard 44 Kookmin Bank 273 Mitsubishi Materials 962
Daikin Industries 785 FedEx 187 Hilton Grp. 667 KPN 260 Mitsubishi UFJ Finl. 25
Daily Mail & General Trust 911 FEMSA 795 Hilton Hotels 711 Kroger 440 Mitsui & Co. 316
DaimlerChrysler 103 Fiat Grp. 748 Hirose Electric 918 KT&G 821 Mitsui Chemicals 982
Daiwa House Ind. 758 Fifth Third Bancorp 267 Hitachi Ltd. 263 Kubota 610 Mitsui Fudosan 466
Daiwa Securities Grp. 483 Financière Richemont 292 Holcim 413 Kuraray 1049 Mitsui Mining & Smelting 1078
Dana 1178 FinecoGroup 1101 Holmen 1122 Kyocera 491 Mitsui O.S.K. Lines 687
Danaher 354 Finmeccanica 749 Home Depot 40 Kyushu Electric Power 613 Mitsui Sumitomo Insurance 371
Danske Bank 294 First Data 166 Hon Hai Precision Ind. 315 L-3 Communications 678 Mizuho Financial Grp. 49
Darden Restaurants 908 First Horizon Natl. 945 Honda Motor 99 Laboratory Corp. America 794 MLP 1146
Dassault Systemes 833 FirstEnergy 390 Honeywell Intl. 181 Lafarge 420 Molex 938
DBS Grp. Hldgs. 426 FirstGroup 1134 Hong Kong & China Gas 529 Lagardère SCA 641 Molson Coors Brewing 886
Deere 364 FIserv 706 Hongkong Electric 601 Land Securities 501 Monsanto 311
Dell 58 Fisher Scientific 741 Horton (D.R.) 567 Legal & General Grp. 470 Monster Worldwide 963
Denso 220 FKI 1176 Hospira 790 Leggett & Platt 979 Moody’s 336
Dentsu 780 Fluor 828 Hoya 378 Lehman Brothers Hldgs. 162 Morgan Stanley 74
Deutsche Bank 104 Ford Motor 406 HSBC Hldgs. 11 Lend Lease 1002 Morrison (Wm.) Supermarkets 722
Deutsche Börse 573 FöreningsSparbanken 457 Humana 767 Lennar 673 Motorola 77
Deutsche Lufthansa 851 Forest Laboratories 465 Huntington Bancshares 901 Lexmark Intl. 898 Munchener Rueck. 185
Deutsche Post 238 Formosa Chemicals & Fibre 705 Husky Energy 297 LG Electronics 549 Murata Mfg. 492
Deutsche Telekom 59 Formosa Plastics 714 Hutchison Whampoa 139 Li & Fung 871 Murphy Oil 669
Devon Energy 208 Fortis 146 Hypo Real Estate 807 Lilly (Eli) 85 Mylan Laboratories 972
Dexia 240 Fortum 403 Hyundai Heavy Inds. 967 Limited Brands 679
Diageo 127 Fortune Brands 552 Hyundai Motor 277 Lincoln National 677 N
Dillard’s 1159 Fosters Grp. 710 Linde 699 Nabors Industries 570
Dimension Data 1182 FPL Grp. 363 I,J Linear Technology 550 Nan Ya Plastics 680
Disney (Walt) 105 France Telecom 72 Iberdrola 244 Liz Claiborne 1038 National Australia Bank 150
DnB NOR 444 Franklin Resources 250 IBM 21 Lloyds TSB Grp. 124 National Bank of Canada 686
Dofasco 993 Freddie Mac 131 Illinois Tool Works 228 Loblaw 430 National Bank of Greece 484
Dollar General 861 Freeport-McMoRan C&G 645 IMI 1108 Lockheed Martin 212 National City 283
Dominion Resources 213 Freescale Semiconductor 589 Imperial Chemical Inds. 816 Loews 333 National Grid 225
Domtar 1175 Fresenius Medical Care 690 Imperial Oil 175 LogicaCMG 1085 National Oilwell Varco 592
Donnelley (R.R.) 771 Friends Provident 829 Imperial Tobacco Grp. 278 Lonmin 1018 National Semicond. 681
Dover 720 Fubon Financial 820 IMS Health 887 Louisiana-Pacific 1113 Navistar Intl. 1153
Dow Chemical 129 Fuji Photo Film 373 InBev 234 Lowe’s 96 NCR 844
Dow Jones 1114 Fujikura 1107 Inco 718 LSI Logic 1080 NEC 538
DSG international 935 Fujitsu 405 Inditex 328 Lucent Technologies 504 Nestlé 26
DSM (Kon.) 789 Furukawa Electric 1020 Infineon Technologies 814 Luxottica Grp. 559 Network Appliance 582
DTE Energy 752 ING Groep 57 LVMH 136 New York Times 1017
Duke Energy 227 G Ingersoll-Rand 479 Newcrest Mining 925
DuPont 133 Gallaher Grp. 621 Insurance Australia Grp. 846 M Newell Rubbermaid 832
Dynegy 1155 Gannett 414 Intel 13 M&T Bank 518 Newmont Mining 293
Gap 401 InterContinental Hotels 848 Macquarie Airports 1075 News Corp. 112
E Gas Natural SDG 517 International Flavors 1096 Macquarie Bank 560 Nexen 554
E*Trade Finl. 779 Gateway 1177 International Game Tech. 618 Macquarie Goodman Grp. 970 Next 840
E.ON 71 GBL 522 International Paper 392 Macquarie Infrastructure 839 NGK Insulators 919
EADS 184 General Dynamics 256 Interpublic Grp. 1013 Magna Intl. 766 Nicor 1156
East Japan Railway 223 General Electric 1 Intuit 643 MAN 778 Nike 271
Eastman Chemical 969 General Mills 360 INVENSYS 1161 Man Grp. 655 Nikko Cordial 474
Eastman Kodak 798 General Motors 506 ITOCHU 526 Manor Care 1089 Nintendo 432
Eaton 656 Genuine Parts 754 ITT Industries 619 Manulife Financial 122 Nippon Express 892
eBay 78 Genworth Financial 375 ITV 755 Marathon Oil 279 Nippon Meat Packers 1135
Ecolab 701 Genzyme General 320 Jabil Circuit 810 Marks & Spencer 469 Nippon Oil 575
Edison Intl. 418 George Weston 628 James Hardie Inds. 1111 Marriott Intl. 458 Nippon Paper Grp. 1029
Eisai 572 Georgia-Pacific 515 Janus Capital 998 Marsh & McLennan 361 Nippon Steel 255
El Paso 781 Gerdau 852 Japan Airlines 937 Marshall & Ilsley 617 Nippon Television Network 1026

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THE BUSINESSWEEK GLOBAL 1200


Nippon Yusen 769 ProLogis 569 Scientific-Atlanta 825 Swisscom 291 Union Pacific 298
NIPPONKOA Insurance 813 Promina Grp. 1036 Scottish & Newcastle 775 Symantec 310 Unisys 1150
NiSource 872 Promise 725 Scottish & Southern Energy 422 Symbion Health 1158 United Business Media 1104
Nissan Motor 126 Scottish Power 353 Symbol Technologies 1109
Nissin Food Products 1066 Provident Financial 1120 United Microelectronics 571
Sealed Air 991 Syngenta 545
Nitto Denko 555 Prudential 281 Sears Hldgs. 323 United Overseas Bank 471
Synovus Financial 691
Noble 633 Prudential Finl. 144 Seat Pagine Gialle 1027 Sysco 300 United Parcel Service 43
NOK 957 Public Service Ent. 411 Secom 544 United States Steel 906
Nokia 48 Public Storage 676 Securitas 912 T
Nomura Hldgs. 170 United Technologies 93
Publicis 849 Sekisui House 729 T&D Hldgs. 402
Nordea 209 Sempra Energy 556 United Utilities 636
Nordstrom 625 Publishing & Broadcasting 727 Tabcorp Hldgs. 858
Serono 697 Taisei 965 UnitedHealth Grp. 52
Norfolk Southern 332 Pulte Homes 578
Severn Trent 857 Taisho Pharmaceutical 894 Univision Communs. 660
Norsk Hydro 224 PUMA 987
Nortel Networks 511 Sharp 357 Taiwan Semiconductor Mfg. 130 UnumProvident 822
North Fork Bancorp. 486 Q,R Shaw Communications 956 Takeda Pharmaceutical 109 UPM-Kymmene 631
Northern Rock 853 Sherwin-Williams 860 Takefuji 650
Qantas Airways 915 Shimizu 923 UST 835
Northern Trust 546 Talisman Energy 334 Vale do Rio Doce 114
Northrop Grumman 296 QBE Insurance Grp. 594 Shin-Etsu Chemical 269 Target 115
NOVA Chemicals 1083 Qlogic 1118 Shinhan Financial Grp. 507 Tate & Lyle 958 Valeo 1090
Novartis 20 Qualcomm 53 Shinsei Bank 759 TDC 539 Valero Energy 186
Novelis 1166 Quanta Computer 943 Shire 865 TDK 566 Veolia Environnement 344
Novell 1100 Quebecor World 1171 Shiseido 815 Teck Cominco 665
Shoppers Drug Mart 784 Verizon Communications 41
Novellus Systems 1076 Teco Energy 1048
Novo-Nordisk 412 Quest Diagnostics 614 Siebel Systems 895 Vestas Wind Systems 1124
NSK 1059 Qwest Communs. 637 Teijin 930 VF 836
Siemens 62
NTT 61 RadioShack 1092 Sigma-Aldrich 977 Tektronix 1145
Tele Norte Leste Part. 737 Viacom 101
NTT Data 626 Randstad Holding 949 Simon Property 355 VINCI 462
NTT DoCoMo 55 Singapore Airlines 707 Telecom Corp. New Zealand 736
Rank Grp. 1072 Telecom Italia 100 Visteon 1181
Nucor 600 RAS 394 Singapore Press Hldgs. 995
Numico 800 Singapore Tech. Eng. 971 Telefónica 50 Vivendi Universal 178
NVIDIA 847 Raytheon 352 Telefónica CTC Chile 1139 VNU 740
Singapore Telecom. 229
Reckitt Benckiser 264 SK Telecom 391 Telefonos de Mexico 349
O,P Vodafone Grp. 18
Reebok Intl. 1063 Skand. Enskilda Banken 468 Telenor 374
O2 188 TeliaSonera 243 Volkswagen 288
Reed Elsevier 286 Skandia Forsakring 889
Obayashi 928 Regions Financial 395 Tellabs 961 Volvo 345
Skanska 878
OCBC Bank 553 SKF 866 Telstra 159 Vornado Realty Trust 525
Occidental Pet. 177 Renault 268
Rentokil Initial 933 SLM 274 Telus 445 Vulcan Materials 809
Odakyu Electric Railway 1021 Temple-Inland 955
Office Depot 672 Repsol YPF 156 Slough Estates 976
SMC 640 Tenaris 478 W
OfficeMax 1151 Research In Motion 548 Tenet Healthcare 1046
Oji Paper 921 Smith & Nephew 713 Wachovia 46
Reuters Grp. 623 Smiths Grp. 652 Teradyne 1110
Old Mutual 616 Rexam 929 Walgreen 123
Omnicom Grp. 404 Snam Rete Gas 717 Terumo 900
Reynolds American 477 Snap-on 1144 Tesco 137 Wal-Mart de Mexico 247
OMV 366
Oracle 67 Ricoh 488 Société Générale 108 Texas Instruments 97 Wal-Mart Stores 7
Oréal (L’) 110 Rinker Grp. 576 Sodexho Alliance 831 Textron 598 Washington Mutual 155
Orica 1004 Rio Tinto 84 Softbank 196 TF1 905 Waste Management 368
Oriental Land 913 Robert Half Intl. 826 Solectron 1064 Thales 774 Waters 985
Origin Energy 1003 Solvay 658 Thermo Electron 936
Orix 322 Roche Hldg. 23 Sompo Japan Insurance 482 Thomson 257 Watson Pharmaceuticals 1044
Orkla 757 Rockwell Automation 612 Sony 151 Thomson 897 Weatherford Intl. 523
Osaka Gas 777 Rockwell Collins 742 Southern 218 3i Grp. 702 WellPoint 116
OTE 595 Rogers Communications 584 Southwest Airlines 481 3M 79 Wells Fargo 30
P&O 843 Rohm 588 Sovereign Bancorp 746 Thyssen Krupp 603
Paccar 520 Wendy’s Intl. 870
Rohm and Haas 638 Spirent 1184 Tiffany 881
Pactiv 1105 Sprint Nextel 54 Wesfarmers 627
Rolls-Royce Grp. 547 Time Warner 45
Pall 1062 SQM 1084 Tiscali 1168 West Japan Railway 756
Parametric Technology 1162 Rowan 1022 St. George Bank 579 Westfield Grp. 285
Parker Hannifin 721 Royal & Sun Alliance Ins. 885 TJX 599
St. Jude Medical 343 TNT 497 Westpac Banking 180
Patterson Cos. 948 Royal Bank of Canada 111 St. Paul Travelers 173
Paychex 380 Tokyo Electric Power 171 Weyerhaeuser 372
Royal Bank of Scotland 39 Standard Chartered 222 Tokyo Electron 577
Pearson 659 WH Smith 1174
Penney (J.C.) 519 Royal Dutch Shell 6 Stanley Works 1012 Tokyo Gas 585
RWE 147 Staples 359 Whirlpool 902
Peoples Energy 1169 Tokyu 802
Pepsi Bottling Grp. 788 Ryanair Hldgs. 830 Starbucks 251 Tomkins 1025 Whitbread 996
PepsiCo 34 Ryder System 1121 Starwood Hotels & Resorts 467 Tomra Systems 1173 William Hill 1057
PerkinElmer 1099 State Street 324 TonenGeneral Sekiyu 834 Williams 512
Pernod Ricard 400 S Statoil 117 Toppan Printing 776
STMicroelectronics 383 Wolseley 498
Petrobras 56 Toray Industries 644
Petrobras Energía Part. 1116 S.A.C.I. Falabella 838 Stockland 854 Wolters Kluwer 864
SABMiller 313 Torchmark 890 Woodside Petroleum 351
Petro-Canada 307 Stora Enso 591 Toronto-Dominion Bank 163
PetroChina 370 Sabre Hldgs. 1098 Stryker 342 Toshiba 356 Woolworths Ltd. 464
Peugeot 442 Safeco 792 Suez 158 WPP Grp. 536
Pfizer 15 Sumitomo Chemical 605 TOTAL 17
Safeway 597 Toto 1087 Wrigley (Wm.) Jr. 398
PG&E 453 SAFRAN 1035 Sumitomo Corp. 431
Phelps Dodge 449 Sumitomo Electric Inds. 596 Toyo Seikan Kaisha 1086 Wyeth 91
Pilkington 1071 Sage Grp. 926 Sumitomo Metal Inds. 365 Toyota Industries 568
Pinnacle West 1005 Sainsbury (J.) 696 Sumitomo Metal Mining 883 Toyota Motor 14 X,Y,Z
Pioneer 1130 Saint-Gobain (Cie. de) 308 Sumitomo Mitsui Financial 60 TransAlta 1008 Xcel Energy 768
Pirelli 1065 Samsung Electronics 32 Sumitomo Realty & Dev. 739 TransCanada 410
Pitney Bowes 651 Transocean 287 Xerox 455
Samsung Fire & Marine Ins. 944 Sumitomo Trust & Banking 443 Xilinx 666
Placer Dome 648 Sun Hung Kai Properties 258 Transurban Grp. 1019
Plum Creek Timber 786 San Paolo-IMI 265 Tribune 630 XL Capital 661
Sandvik 537 Sun Life Financial 249
PMC-Sierra 1164 Sun Microsystems 487 Trinity Mirror 1088 Xstrata 429
PNC Financial Svcs. 327 Sanmina-SCI 1143 Suncor Energy 217 TUI 1042
Porsche 824 XTO Energy 416
sanofi-aventis 29 Suncorp-Metway 735 TXU 232
Portugal Telecom 586 Yahoo 88
Santos 941 Sunoco 608 Tyco Intl. 82
POSCO 341 Sanyo Electric 999 Tyson Foods 863 Yahoo! Japan 153
Potash Corp. Saskatchewan 732 SunTrust Banks 214
SAP 86 Supervalu 975 Yakult Honsha 1055
PPG Industries 611 U,V Yamato Hldgs. 773
PPL 562 Sara Lee 454 Suzuki Motor 624
PPR 472 Schering 513 Svenska Cellulosa 726 U.S. Bancorp 92 Yell Grp. 856
Praxair 362 Svenska Handelsbanken 396 UBS 38 Yue Yuen Industrial 984
Schering-Plough 194 UNIBANCO NR
Price (T. Rowe) 657 Swatch Grp. 682 YUM! Brands 448
Schlumberger 90 Swedish Match 1045 Unicharm 1094
Principal Financial Grp. 435 Zimmer Hldgs. 388
Procter & Gamble 8 Schneider Electric 314 Swire Pacific 450 Unicredito Italiano 68
Progress Energy 557 Schroders 974 Swiss Life Hldg. 934 Unilever 64 Zions Bancorp. 805
Progressive 236 Schwab (Charles) 309 Swiss Re 246 Unión Fenosa 558 Zurich Finl. Svcs. Grp. 189

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