Clarification from Laura re: BP holdings at STRS

From Laura Ecklar, July 8, 2010
Subject: Re: BP Holdings at STRS

In reply to the e-mail below, the price per share that Mr. Iacone is using is incorrect for the STRS Ohio holdings. He is quoting the BP ADR (American Depository Receipts) shares that trade in the U.S. market. STRS Ohio, as well as the other Ohio retirement systems, own shares that are traded on the London stock exchange. The price of these shares is approximately one-sixth of the ADR price. Consequently, the statement that the market value of STRS Ohio’s BP stock holdings on June 28 represents approximately 0.08% of the market value of STRS Ohio’s total investment fund is correct.

I hope this information is useful to you. Thank you.

Laura Ecklar
Director, Communication Services