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Medallion
Financial Corporation Added to KLD's Domini 400
Social Index
BOSTON, MA - May 17, 2004 - KLD Research
& Analytics, Inc., an independent investment research
firm, announced today that Medallion Financial Corporation
(TAXI) has been added to KLD's Domini 400 SocialSM
Index (DS 400 Index). Medallion Financial Corporation
is headquartered in New York, New York.
Medallion
Financial Corporation originates and services loans
that finance taxicab medallions. The company also
operates a taxicab rooftop advertising business.
The majority of the company's loans are made to
New York City Taxi drivers.
Reasons
the company was added to KLD's DS 400 Index
-
Medallion Financial's clients are primarily women,
minorities, and immigrants who need loans to purchase
taxicab medallions.
-
In 2003 Medallion Financial was the one of the
largest Small Business Association lenders in
the United States to women- and minority-owned
businesses. The company's lending practices allow
low-income individuals to purchase the medallions
with loans at reasonable rates. The company's
notably low default rate, when compared with ordinary
bank loans, is an indicator of the quality of
the company's lending service.
About
the KLD Family of Indexes
KLD's Domini 400 Social Index (DS 400 Index) is
the established benchmark for measuring the impact
of social screening on financial performance. Launched
on May 1, 1990, the DS 400 Index is the first benchmark
for equity portfolios subject to multiple social
screens. The index consists of 400 diversified equities
that pass a broad range of social screening criteria.
The KLD Broad Market SocialSM
Index (KLD BMS Index) is the screened subset of
the Russell 3000®
Index, and the KLD Large Cap SocialSM
Index (KLD LCS Index) is the screened subset of
the Russell 1000®
Index. The KLD BMS and LCS Indexes were launched
on January 1, 2001.
About KLD Research & Analytics, Inc.
KLD Research & Analytics, Inc. is an independent
investment research firm providing investment management
tools used by professionals to serve clients requiring
investment strategies based on social and environmental
responsibility. KLD products and services, including
Socrates (a web-based, company research tool) are
used for screening, compliance and asset gathering.
For
more information about KLD or the KLD Domini 400
Social Index, please see our website ((www.kld.com)
or contact Karen Agredo by phone (617.426.5270)
or via e-mail (kagredo@kld.com).
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