(FORTUNE Magazine) – REVENUES % change RANK from 2003 2002 $ mil. 2002

1 1 WAL-MART STORES[1] 263,009.0 6.7 U.S. 2 5 BP 232,571.0[E] 30.1 BRITAIN 3 3 EXXON MOBIL 222,883.0[E] 22.2 U.S. 4 4 ROYAL DUTCH/SHELL GROUP 201,728.0[E] 12.4 BRITAIN/NETHERLANDS 5 2 GENERAL MOTORS 195,324.0[2] 4.6 U.S. 6 6 FORD MOTOR 164,505.0 0.4 U.S. 7 7 DAIMLERCHRYSLER[3] 156,602.2 10.7 GERMANY 8 8 TOYOTA MOTOR[3,4] 153,111.0 20.4 JAPAN 9 9 GENERAL ELECTRIC 134,187.0 1.9 U.S. 10 14 TOTAL 118,441.4[E] 22.2 FRANCE 11 12 ALLIANZ[5] 114,949.9 12.8 GERMANY 12 15 CHEVRONTEXACO 112,937.0[E] 22.7 U.S. 13 31 AXA 111,912.2 80.4 FRANCE 14 36 CONOCOPHILLIPS 99,468.0[E] 70.4 U.S. 15 20 VOLKSWAGEN[5] 98,636.6 20.0 GERMANY 16 16 NIPPON TELEGRAPH & TELEPHONE[3,4] 98,229.1 9.6 JAPAN 17 17 ING GROUP 95,893.3 8.8 NETHERLANDS 18 13 CITIGROUP[6] 94,713.0 (6.0) U.S. 19 19 INTERNATIONAL BUSINESS MACHINES 89,131.0 7.2 U.S. 20 25 AMERICAN INTERNATIONAL GROUP 81,303.0 20.5 U.S. 21 21 SIEMENS[3,7] 80,501.0 4.3 GERMANY 22 29 CARREFOUR 79,773.8 22.8 FRANCE 23 26 HITACHI[4] 76,423.3 13.7 JAPAN 24 40 HEWLETT-PACKARD[8] 73,061.0 29.1 U.S. 25 28 HONDA MOTOR[4] 72,263.7 10.5 JAPAN 26 39 MCKESSON[4] 69,506.1 21.7 U.S. 27 27 U.S. POSTAL SERVICE[G,7] 68,529.0 3.1 U.S. 28 24 VERIZON COMMUNICATIONS 67,752.0 0.2 U.S. 29 44 ASSICURAZIONI GENERALI 66,754.9 24.5 ITALY 30 32 SONY[3,4] 66,365.7 8.2 JAPAN 31 34 MATSUSHITA ELECTRIC INDUSTRIAL[3,4] 66,218.4 9.0 JAPAN 32 41 NISSAN MOTOR[4] 65,771.1 17.4 JAPAN 33 38 NESTLE 65,414.6 14.2 SWITZERLAND 34 37 HOME DEPOT[1] 64,816.0 11.3 U.S. 35 78 BERKSHIRE HATHAWAY 63,859.0 50.8 U.S. 36 33 NIPPON LIFE INSURANCE[4] 63,840.7 4.4 JAPAN 37 35 ROYAL AHOLD 63,455.8 7.1 NETHERLANDS 38 55 DEUTSCHE TELEKOM 63,195.5 24.5 GERMANY 39 52 PEUGEOT 61,384.6 19.3 FRANCE 40 30 ALTRIA GROUP 60,704.0[E] (2.4) U.S. 41 58 METRO 60,656.9 24.5 GERMANY 42 57 AVIVA 59,719.4 20.6 BRITAIN 43 63 ENI 59,304.4[E] 28.0 ITALY 44 49 MUNICH RE GROUP 59,082.6 13.7 GERMANY 45 48 CREDIT SUISSE 58,957.1 13.1 SWITZERLAND 46 -- STATE GRID[G] 58,348.0 -- CHINA 47 89 HSBC HOLDINGS 57,608.0 40.0 BRITAIN 48 54 BNP PARIBAS 57,271.8 12.0 FRANCE 49 60 VODAFONE[4] 56,844.5 21.0 BRITAIN 50 53 CARDINAL HEALTH[9] 56,829.5 11.1 U.S. 51 73 FORTIS 56,695.2 30.0 BELGIUM/NETHERLANDS 52 56 STATE FARM INSURANCE COS. 56,064.6 12.9 U.S. 53 70 SINOPEC[G] 55,062.0[E] 23.7 CHINA 54 59 SAMSUNG ELECTRONICS 54,400.2 14.3 SOUTH KOREA 55 51 KROGER[1] 53,790.8 3.9 U.S. 56 45 FANNIE MAE 53,766.9 1.6 U.S. 57 46 FIAT 53,499.6 1.7 ITALY 58 71 FRANCE TELECOM[G] 52,198.1 18.4 FRANCE 59 84 TESCO[10] 51,570.2 27.7 BRITAIN 60 83 ZURICH FINANCIAL SERVICES[5] 51,357.0 26.4 SWITZERLAND 61 65 ELECTRICITE DE FRANCE[G] 50,837.7 11.2 FRANCE 62 43 BOEING 50,485.0 (6.6) U.S. 63 67 AMERISOURCEBERGEN[7] 49,657.3 9.8 U.S. 64 62 TOSHIBA[3,4] 49,395.5 6.4 JAPAN 65 95 PEMEX[G] 49,240.1[E] 29.7 MEXICO 66 68 E.ON 48,708.9[E] 8.4 GERMANY 67 47 DEUTSCHE BANK[3] 48,670.4 (6.6) GERMANY 68 82 RWE[5] 48,406.7 17.7 GERMANY 69 66 UNILEVER 48,318.4 5.9 BRITAIN/NETHERLANDS 70 72 TARGET 48,163.0 9.7 U.S. 71 64 BANK OF AMERICA CORP.[11] 48,065.0 5.1 U.S. 72 79 UBS[5] 47,741.0 12.8 SWITZERLAND 73 69 CHINA NATIONAL PETROLEUM[G] 47,046.9[E] 4.9 CHINA 74 87 BMW[5] 46,996.5 17.6 GERMANY 75 88 DEUTSCHE POST[G,5] 46,651.3 16.8 GERMANY 76 -- PDVSA[G,12] 46,000.0[E] 8.0 VENEZUELA 77 106 PFIZER 45,950.0 30.2 U.S. 78 98 CREDIT AGRICOLE[13] 45,928.1 25.0 FRANCE 79 77 DAI-ICHI MUTUAL LIFE INSURANCE[4] 45,065.6 4.5 JAPAN 80 74 SUEZ 44,842.5 2.9 FRANCE 81 75 J.P. MORGAN CHASE & CO.[14] 44,363.0 2.3 U.S. 82 161 MEIJI YASUDA LIFE INSURANCE[4,15] 44,064.0 68.0 JAPAN 83 80 TIME WARNER[16] 43,877.0[¶] 5.3 U.S. 84 102 ROYAL BANK OF SCOTLAND 43,757.6 21.4 BRITAIN 85 93 NEC[3.4] 43,440.2 12.7 JAPAN 86 86 PROCTER & GAMBLE[9] 43,377.0 7.8 U.S. 87 85 TOKYO ELECTRIC POWER[4] 42,971.0 6.4 JAPAN 88 92 COSTCO WHOLESALE[17] 42,545.6 9.8 U.S. 89 111 RENAULT 42,469.5 23.6 FRANCE 90 97 FUJITSU[4] 42,201.4 11.4 JAPAN 91 110 REPSOL YPF 42,031.5[E] 22.1 SPAIN 92 101 JOHNSON & JOHNSON 41,862.0 15.3 U.S. 93 105 DELL[1,18] 41,444.0 17.1 U.S. 94 114 ROBERT BOSCH 41,147.6 24.4 GERMANY 95 81 SEARS ROEBUCK 41,124.0 (0.6) U.S. 96 76 SBC COMMUNICATIONS 40,843.0 (5.3) U.S. 97 113 THYSSENKRUPP[7] 39,188.3 16.2 GERMANY 98 94 HYUNDAI MOTOR 39,100.8 1.7 SOUTH KOREA 99 150 VALERO ENERGY 37,968.6[E] 40.7 U.S. 100 123 BASF 37,757.0 24.0 GERMANY 101 109 ABN AMRO HOLDING 37,682.1 8.9 NETHERLANDS 102 146 MARATHON OIL 37,137.0[E] 35.2 U.S. 103 100 SUMITOMO LIFE INSURANCE[4] 36,913.0 1.7 JAPAN 104 90 FREDDIE MAC 36,839.0 (20.4) U.S. 105 91 TYCO INTERNATIONAL[7,19] 36,801.3 (5.6) U.S. 106 112 METLIFE 36,261.0 6.3 U.S. 107 125 HBOS 36,023.6 20.4 BRITAIN 108 107 SAFEWAY 35,552.7 2.2 U.S. 109 104 PRUDENTIAL 35,472.6 (1.0) BRITAIN 110 138 ENEL[G] 35,443.5 25.1 ITALY 111 103 ALBERTSON'S[1] 35,436.0 (1.3) U.S. 112 122 STATOIL[G,3] 35,241.8[E] 15.4 NORWAY 113 127 TELECOM ITALIA[20] 35,221.6 16.9 ITALY 114 119 GLAXOSMITHKLINE 35,050.9 10.0 BRITAIN 115 116 MORGAN STANLEY[21] 34,933.0 7.8 U.S. 116 61 AT&T 34,529.0 (26.1) U.S. 117 -- MEDCO HEALTH SOLUTIONS[22] 34,264.5 -- U.S. 118 139 EADS 34,103.5 20.6 NETHERLANDS 119 108 SK 33,768.5[E] (2.6) SOUTH KOREA 120 133 SAINT-GOBAIN 33,488.9 17.0 FRANCE 121 120 UNITED PARCEL SERVICE 33,485.0 7.1 U.S. 122 136 NOKIA[5] 33,336.1 17.5 FINLAND 123 117 J.C. PENNEY[1] 32,923.0[¶] 1.8 U.S. 124 124 ROYAL PHILIPS ELECTRONICS[3] 32,863.0 9.2 NETHERLANDS 125 145 DOW CHEMICAL 32,632.0 18.2 U.S. 126 132 WALGREEN[17] 32,505.4 13.3 U.S. 127 162 GROUPE AUCHAN 32,488.4 24.7 FRANCE 128 135 VEOLIA ENVIRONNEMENT 32,371.9 13.8 FRANCE 129 143 BAYER 32,331.1 15.4 GERMANY 130 137 MICROSOFT[9] 32,187.0 13.5 U.S. 131 129 AEGON 32,174.9 9.3 NETHERLANDS 132 128 ALLSTATE 32,149.0 8.7 U.S. 133 264 DEUTSCHE BAHN[G] 31,947.4 80.8 GERMANY 134 153 LOCKHEED MARTIN 31,844.0 18.8 U.S. 135 134 WELLS FARGO 31,800.0 11.7 U.S. 136 130 BT[4] 31,668.6 8.1 BRITAIN 137 152 TELEFONICA 31,541.7 19.5 SPAIN 138 131 SUMITOMO MITSUI FINANCIAL GROUP[4] 31,450.5 9.3 JAPAN 139 159 LOWE'S[1] 31,263.0 18.0 U.S. 140 169 AEON[23] 31,161.2 24.1 JAPAN 141 141 UNITED TECHNOLOGIES 31,034.0 10.0 U.S. 142 157 BARCLAYS 30,843.0 16.0 BRITAIN 143 203 CNP ASSURANCES 30,805.9 43.6 FRANCE 144 189 PETROBRAS[G,3] 30,797.0[E] 36.2 BRAZIL 145 179 ARCHER DANIELS MIDLAND[9] 30,708.0 30.9 U.S. 146 155 INTEL 30,141.0 12.6 U.S. 147 261 LG ELECTRONICS 29,873.9 67.5 SOUTH KOREA 148 183 ARCELOR 29,338.7 26.5 LUXEMBOURG 149 148 ITO-YOKADO[3,10] 29,332.7 7.8 JAPAN 150 201 CENTRICA 29,312.9 36.3 BRITAIN 151 126 MITSUBISHI ELECTRIC[4] 29,300.4 (1.9) JAPAN 152 151 J. SAINSBURY[4] 29,034.6 7.7 BRITAIN 153 42 VIVENDI UNIVERSAL 28,839.6 (47.5) FRANCE 154 167 UNITEDHEALTH GROUP 28,823.0 15.2 U.S. 155 260 NORTHROP GRUMMAN 28,686.0 60.8 U.S. 156 164 DZ BANK 28,663.1 12.1 GERMANY 157 158 NIPPON OIL[4] 28,560.6[E] 7.8 JAPAN 158 173 SOCIETE GENERALE 28,556.7 18.0 FRANCE 159 142 MIZUHO FINANCIAL GROUP[4] 28,335.2 0.5 JAPAN 160 147 DELPHI 28,096.0 2.4 U.S. 161 99 HVB GROUP 28,082.5 (22.8) GERMANY 162 154 PRUDENTIAL FINANCIAL 27,907.0 4.1 U.S. 163 140 MERRILL LYNCH 27,745.0 (1.8) U.S. 164 172 DUPONT 27,730.0 13.1 U.S. 165 178 CANON[3] 27,591.7 17.5 JAPAN 166 163 GROUPE PINAULT-PRINTEMPS 27,570.7 6.5 FRANCE 167 235 GAZPROM[24] 27,526.5[E] 40.8 RUSSIA 168 -- MCI[25] 27,331.0 (16.9) U.S. 169 199 SWISS REINSURANCE 27,086.6 22.5 SWITZERLAND 170 165 WALT DISNEY[7] 27,061.0 6.8 U.S. 171 156 MOTOROLA 27,058.0 1.4 U.S. 172 194 FONCIERE EURIS 27,005.0 20.4 FRANCE 173 166 PEPSICO 26,971.0 7.4 U.S. 174 160 SANTANDER CENTRAL HISPANO GROUP 26,956.8 (1.1) SPAIN 175 174 CVS 26,588.0 10.0 U.S. 176 171 VIACOM 26,585.3 8.0 U.S. 177 11 MITSUI[3,4] 26,385.0 (75.7) JAPAN 178 149 SPRINT 26,202.0 (3.6) U.S. 179 181 SYSCO[9] 26,140.3 11.9 U.S. 180 208 FRANZ HANIEL 26,073.6 22.8 GERMANY 181 229 TIAA-CREF 26,016.2 31.5 U.S. 182 190 NIPPON STEEL[4] 25,902.9 14.8 JAPAN 183 176 AMERICAN EXPRESS 25,866.0 8.6 U.S. 184 240 MAZDA MOTOR[4] 25,816.6 33.0 JAPAN 185 170 NEW YORK LIFE INSURANCE 25,699.7 4.0 U.S. 186 204 PETRONAS[G,4] 25,660.9[E] 19.7 MALAYSIA 187 212 SNCF[G] 25,490.7 21.6 FRANCE 188 195 LLOYDS TSB GROUP 25,378.0 13.3 BRITAIN 189 191 INDIAN OIL[G,4] 25,316.3[E] 12.5 INDIA 190 184 KDDI[4] 25,196.6 10.2 JAPAN 191 168 INTERNATIONAL PAPER 25,179.0 0.8 U.S. 192 188 BEST BUY[10] 24,901.0 9.8 U.S. 193 214 NOVARTIS 24,864.0 19.4 SWITZERLAND 194 211 BOUYGUES 24,697.4 17.4 FRANCE 195 175 MILLEA HOLDINGS[4] 24,573.5 2.2 JAPAN 196 23 MARUBENI[4] 24,559.8 (66.0) JAPAN 197 180 TYSON FOODS[7] 24,549.0 5.1 U.S. 198 177 WACHOVIA CORP. 24,474.0 3.7 U.S. 199 221 NORSK HYDRO[3] 24,276.3 18.9 NORWAY 200 219 RABOBANK[26] 24,124.7 17.6 NETHERLANDS 201 -- A.P. MOLLER-MARSK GROUP 23,887.9 -- DENMARK 202 186 GOLDMAN SACHS GROUP[21] 23,623.0 3.4 U.S. 203 121 KMART HOLDING[1] 23,485.0 (23.7) U.S. 204 310 DUKE ENERGY 23,483.0 49.9 U.S. 205 245 ROCHE GROUP[5] 23,212.9 21.6 SWITZERLAND 206 197 HONEYWELL INTERNATIONAL 23,103.0 3.7 U.S. 207 185 ABB 23,079.0[¶] 1.0 SWITZERLAND 208 241 GROUPE CAISSE D'EPARGNE 23,077.8 19.3 FRANCE 209 223 CATERPILLAR 22,763.0 13.0 U.S. 210 220 TUI[5] 22,730.4 11.3 GERMANY 211 215 UFJ HOLDINGS[4] 22,722.9 9.8 JAPAN 212 243 VOLVO 22,692.4 18.4 SWEDEN 213 244 DENSO[4] 22,685.1 18.5 JAPAN 214 218 FUJI PHOTO FILM[3,4] 22,667.2 10.2 JAPAN 215 224 JOHNSON CONTROLS[7] 22,646.0 12.6 U.S. 216 193 BELLSOUTH 22,635.0 0.9 U.S. 217 187 MITSUBISHI TOKYO FINANCIAL GROUP[4] 22,621.1 (0.6) JAPAN 218 192 INGRAM MICRO 22,613.0 0.7 U.S. 219 210 EAST JAPAN RAILWAY[4] 22,507.0 6.9 JAPAN 220 202 KANSAI ELECTRIC POWER[4] 22,488.1 4.8 JAPAN 221 217 FEDEX[27] 22,487.0 9.1 U.S. 222 50 MERCK[28] 22,485.9 (56.6) U.S. 223 353 BUNGE[19] 22,345.0 58.8 U.S. 224 118 MITSUBISHI MOTORS[4] 22,304.7 (30.0) JAPAN 225 257 SANYO ELECTRIC[3,4] 22,203.5 24.0 JAPAN 226 144 CONAGRA FOODS[27] 22,052.5[¶] (20.2) U.S. 227 226 JFE HOLDINGS[4] 21,900.0 10.0 JAPAN 228 232 HCA 21,808.0 10.5 U.S. 229 216 ALCOA 21,728.0 5.4 U.S. 230 225 DELHAIZE GROUP 21,719.9 9.0 BELGIUM 231 196 STANDARD LIFE ASSURANCE[21] 21,711.9 (3.0) BRITAIN 232 200 ELECTRONIC DATA SYSTEMS 21,596.0 (0.9) U.S. 233 198 BANK ONE CORP.[29] 21,454.0 (3.2) U.S. 234 270 VINCI 21,363.2 22.5 FRANCE 235 408 COMCAST 21,263.0[¶] 70.7 U.S. 236 222 MASS. MUTUAL LIFE INSURANCE 21,075.8 4.1 U.S. 237 234 COCA-COLA 21,044.0 7.6 U.S. 238 206 MITSUBISHI HEAVY INDUSTRIES[4] 21,012.1 (1.3) JAPAN 239 252 BRISTOL-MYERS SQUIBB 20,894.0 15.3 U.S. 240 269 GEORGE WESTON 20,838.4 19.2 CANADA 241 290 CHINA LIFE INSURANCE[G] 20,782.1 26.9 CHINA 242 230 CHINA MOBILE COMMUNICATIONS[G] 20,764.7 5.0 CHINA 243 237 INDUSTRIAL & COMMERCIAL BANK OF 20,757.3 6.3 CHINA[G] CHINA 244 289 LA POSTE[G] 20,376.3 24.3 FRANCE 245 272 WELLPOINT HEALTH NETWORKS 20,359.7 17.4 U.S. 246 182 GEORGIA-PACIFIC 20,255.0 (13.0) U.S. 247 242 SUPERVALU[10] 20,209.7 5.5 U.S. 248 238 AVENTIS 20,162.4 3.4 FRANCE 249 288 SHARP[4] 19,983.7 21.6 JAPAN 250 256 BRIDGESTONE 19,877.3 10.7 JAPAN 251 249 WEYERHAEUSER 19,873.0 7.3 U.S. 252 271 ALMANIJ 19,745.5 13.4 BELGIUM 253 255 BRITISH AMERICAN TOBACCO 19,684.1[E] 9.6 BRITAIN 254 263 ABBOTT LABORATORIES 19,680.6 11.3 U.S. 255 207 ALSTOM[4] 19,627.1 (7.6) FRANCE 256 286 SUZUKI MOTOR[4] 19,467.7 17.7 JAPAN 257 254 CHINA TELECOMMUNICATIONS[G] 19,464.5 8.1 CHINA 258 239 AUTONATION 19,381.1 (0.5) U.S. 259 377 LUKOIL[3] 19,345.0[E] 43.8 RUSSIA 260 276 LANDESBANK BADEN-WURTTEMBERG[G] 19,270.8 12.4 GERMANY 261 -- WILLIAMS 19,265.6[¶] 105.2 U.S. 262 233 ROYAL & SUN ALLIANCE 19,259.1 (2.2) BRITAIN 263 236 SAMSUNG LIFE INSURANCE[4] 19,159.0 (1.9) SOUTH KOREA 264 213 BANCO BILBAO VIZCAYA ARGENTARIA 19,144.9 (8.1) SPAIN 265 279 KOREA ELECTRIC POWER[G] 19,114.3 11.9 SOUTH KOREA 266 273 BERTELSMANN 19,014.8 9.8 GERMANY 267 265 DEXIA GROUP 18,889.1 7.0 BELGIUM 268 247 CISCO SYSTEMS[30] 18,878.0 (0.2) U.S. 269 253 ASTRAZENECA 18,849.0 4.5 BRITAIN 270 248 SINOCHEM[G] 18,846.1 0.4 CHINA 271 364 GAZ DE FRANCE[G] 18,840.5 37.0 FRANCE 272 227 CIGNA 18,808.0 (5.6) U.S. 273 305 ENDESA 18,768.0 17.3 SPAIN 274 301 HARTFORD FINANCIAL SERVICES 18,733.0 17.8 U.S. 275 328 ANGLO AMERICAN 18,637.0 23.1 BRITAIN 276 246 WASHINGTON MUTUAL 18,629.0 (2.1) U.S. 277 259 CHUBU ELECTRIC POWER[4] 18,600.8 4.2 JAPAN 278 294 ADECCO 18,391.2 14.1 SWITZERLAND 279 307 MITSUI SUMITOMO INSURANCE[4] 18,294.8 16.1 JAPAN 280 266 SARA LEE[9] 18,291.0 3.8 U.S. 281 291 3M 18,232.0 11.6 U.S. 282 349 CENDANT 18,192.0 27.7 U.S. 283 367 GROUPAMA 18,155.8 24.8 FRANCE 284 280 RAYTHEON 18,109.0 6.8 U.S. 285 331 UNICREDITO ITALIANO 18,092.2 20.3 ITALY 286 313 COMPASS GROUP[7] 18,072.0 15.8 BRITAIN 287 296 LUFTHANSA GROUP 18,059.6 12.6 GERMANY 288 325 MICHELIN 18,047.6 18.6 FRANCE 289 228 AETNA 17,976.4 (9.6) U.S. 290 287 JAPAN TOBACCO[4] 17,881.4[E] 8.5 JAPAN 291 268 BANCA INTESA 17,789.1 1.3 ITALY 292 285 IDEMITSU KOSAN[4] 17,669.6[E] 6.5 JAPAN 293 250 VISTEON 17,660.0 (4.0) U.S. 294 258 DAIEI[10] 17,518.3 (2.0) JAPAN 295 326 NEWS CORP.[9] 17,493.9 15.2 AUSTRALIA 296 274 AMR 17,440.0 0.8 U.S. 297 -- JAPAN POST[G,4] 17,430.8 -- JAPAN 298 309 TECH DATA 17,406.3 10.6 U.S. 299 282 COCA-COLA ENTERPRISES 17,330.0 2.6 U.S. 300 231 COMMERZBANK[5] 17,316.0 (12.4) GERMANY 301 284 LEHMAN BROTHERS HOLDINGS[21] 17,287.0 3.0 U.S. 302 336 KARSTADTQUELLE 17,282.5 15.6 GERMANY 303 337 ROYAL BANK OF CANADA[8] 17,203.9 16.5 CANADA 304 366 OLD MUTUAL 17,145.4 16.5 BRITAIN 305 321 MCDONALD'S 17,140.5 11.3 U.S. 306 277 JAPAN AIRLINES SYSTEM[4] 17,101.8 0.0 JAPAN 307 300 NORTHWESTERN MUTUAL 17,059.7 7.2 U.S. 308 317 MITSUBISHI CHEMICAL[4] 17,045.0 10.0 JAPAN 309 327 MAN GROUP 17,000.2 12.1 GERMANY 310 329 BOMBARDIER[1] 16,996.2[¶] 12.4 CANADA 311 341 LIBERTY MUTUAL INSURANCE GROUP 16,914.0 16.3 U.S. 312 299 PUBLIX SUPER MARKETS 16,848.3 5.8 U.S. 313 297 NATIONWIDE 16,803.0 5.4 U.S. 314 348 SOMPO JAPAN INSURANCE[4] 16,794.9 17.8 JAPAN 315 381 ANTHEM 16,771.4 26.3 U.S. 316 355 TENET HEALTHCARE[31] 16,746.0[¶] 20.4 U.S. 317 312 AT&T WIRELESS SERVICES 16,695.0 6.8 U.S. 318 357 GENERAL DYNAMICS 16,617.0 19.9 U.S. 319 306 RITE AID[10] 16,600.4 5.1 U.S. 320 334 SKANSKA 16,451.1 9.8 SWEDEN 321 396 GROUPE DANONE 16,376.6 27.8 FRANCE 322 400 HALLIBURTON 16,271.0 29.4 U.S. 323 -- HANWHA 16,181.8 170.9 SOUTH KOREA 324 372 COLES MYER[30] 16,042.8 18.5 AUSTRALIA 325 350 SWISS LIFE INSURANCE & PENSION 16,035.6 13.5 SWITZERLAND 326 401 SUNOCO 15,930.0[E] 26.9 U.S. 327 373 L'OREAL 15,877.6 17.5 FRANCE 328 391 MAGNA INTERNATIONAL 15,870.0 22.3 CANADA 329 342 GAP[1] 15,853.8 9.7 U.S. 330 340 WYETH 15,850.6 8.7 U.S. 331 371 CHINA CONSTRUCTION BANK[G] 15,824.8 16.9 CHINA 332 351 NATIONAL AUSTRALIA BANK[7] 15,819.5 12.1 AUSTRALIA 333 335 EXELON 15,812.0 5.7 U.S. 334 283 LOEWS 15,809.6[E] (6.1) U.S. 335 347 RICOH[4] 15,760.6 10.5 JAPAN 336 343 LEAR 15,746.7 9.2 U.S. 337 323 SUN LIFE FINANCIAL[32] 15,741.2 2.8 CANADA 338 382 LEGAL & GENERAL GROUP 15,729.7 18.8 BRITAIN 339 304 XEROX 15,701.0 (0.9) U.S. 340 388 WOOLWORTHS[9] 15,681.8 19.9 AUSTRALIA 341 302 BHP BILLITON[9] 15,608.0 (1.9) AUSTRALIA 342 262 NIPPON MINING HOLDINGS[4] 15,551.1[E] (12.4) JAPAN 343 324 BAYERISCHE LANDESBANK[G] 15,549.4 1.6 GERMANY 344 354 DEERE[8] 15,534.6 11.4 U.S. 345 356 DENTSU[4] 15,484.9 11.5 JAPAN 346 361 LAFARGE 15,457.6 11.9 FRANCE 347 314 AMERICAN ELECTRIC POWER 15,441.0 (0.9) U.S. 348 18 ITOCHU[3,4] 15,393.2 (82.1) JAPAN 349 365 ELECTROLUX 15,361.4 12.1 SWEDEN 350 320 U.S. BANCORP 15,354.4 (0.4) U.S. 351 -- NATIONAL GRID TRANSCO[4] 15,300.7 5.2 BRITAIN 352 319 FEDERATED DEPARTMENT STORES[1] 15,264.0 (1.1) U.S. 353 293 BANCO BRADESCO 15,179.5 (5.9) BRAZIL 354 -- TRAVELERS PROPERTY CASUALTY[33,34] 15,139.2 -- U.S. 355 22 SUMITOMO[3,4] 15,126.2 (80.0) JAPAN 356 358 GOODYEAR TIRE & RUBBER 15,119.0 9.1 U.S. 357 330 KOOKMIN BANK 15,112.4 0.2 SOUTH KOREA 358 332 BANK OF CHINA[G] 15,021.6 (0.1) CHINA 359 461 YUKOS[3,35] 14,966.0[E] 37.1 RUSSIA 360 318 QWEST COMMUNICATIONS 14,936.0 (11.7) U.S. 361 443 POSCO 14,930.2 30.1 SOUTH KOREA 362 392 MIGROS[26] 14,880.2 14.7 SWITZERLAND 363 338 BANCO DO BRASIL[G] 14,844.2 1.1 BRAZIL 364 405 LAGARDERE GROUPE 14,790.7 13.3 FRANCE 365 383 AKZO NOBEL 14,770.7 11.6 NETHERLANDS 366 448 COMPUTER SCIENCES[4] 14,767.6 30.2 U.S. 367 363 NIPPON EXPRESS[4] 14,757.5 7.2 JAPAN 368 395 ROYAL MAIL HOLDINGS[G,4] 14,623.2 13.9 BRITAIN 369 -- HILTON GROUP 14,599.2 77.3 BRITAIN 370 333 L.M. ERICSSON 14,576.6 (2.8) SWEDEN 371 411 RAG 14,559.2 18.2 GERMANY 372 -- SHANGHAI BAOSTEEL GROUP[G] 14,548.0 54.9 CHINA 373 292 KINGFISHER[1] 14,536.4 (10.7) BRITAIN 374 378 FLEXTRONICS INTERNATIONAL[3,4] 14,530.4 8.6 SINGAPORE 375 399 AIR FRANCE GROUP[G,4] 14,509.8 15.0 FRANCE 376 303 FLEETBOSTON FINANCIAL[36] 14,442.0 (9.0) U.S. 377 428 ROYAL KPN 14,420.9 20.9 NETHERLANDS 378 427 AMERADA HESS 14,408.0[E] 20.8 U.S. 379 421 ALLIANCE UNICHEM 14,384.7 19.3 BRITAIN 380 322 KAJIMA[4] 14,357.5 (6.7) JAPAN 381 370 KIMBERLY-CLARK 14,348.0 5.8 U.S. 382 359 SCHLUMBERGER[37] 14,278.8 3.3 U.S. 383 481 KFW BANKENGRUPPE[G,38] 14,240.3 35.7 GERMANY 384 440 AISIN SEIKI[4] 14,211.3 23.0 JAPAN 385 311 ALCATEL 14,161.8 (9.5) FRANCE 386 375 TAISEI[4] 14,151.7 4.8 JAPAN 387 369 ANHEUSER-BUSCH 14,146.7[E] 4.3 U.S. 388 390 BCE 14,119.0 8.4 CANADA 389 10 MITSUBISHI[4] 14,116.4 (87.1) JAPAN 390 409 CHRISTIAN DIOR 14,108.6 13.3 FRANCE 391 406 MARKS & SPENCER[4] 14,061.6 12.5 BRITAIN 392 360 EMERSON ELECTRIC[7] 13,999.0 1.3 U.S. 393 486 VATTENFALL[G] 13,858.2 33.3 SWEDEN 394 387 TOHOKU ELECTRIC POWER[4] 13,835.1 5.8 JAPAN 395 389 CATHAY LIFE 13,804.6 5.6 TAIWAN 396 419 STORA ENSO 13,776.2 14.0 FINLAND 397 398 SHIMIZU[4] 13,727.1 7.9 JAPAN 398 346 UAL 13,724.0 (3.9) U.S. 399 417 BAE SYSTEMS 13,710.7 13.0 BRITAIN 400 397 OTTO VERSAND[39] 13,708.0 7.3 GERMANY 401 -- COUNTRYWIDE FINANCIAL 13,659.5 53.9 U.S. 402 410 SAN PAOLO IMI 13,658.1 10.7 ITALY 403 416 SUMITOMO ELECTRIC INDUSTRIES[4] 13,654.9 11.7 JAPAN 404 402 ALCAN[40] 13,652.0 8.9 CANADA 405 -- AMP 13,515.7 150.0 AUSTRALIA 406 386 KT 13,485.4 2.9 SOUTH KOREA 407 -- HUTCHISON WHAMPOA 13,473.5 39.7 CHINA 408 455 TPG 13,429.5 20.6 NETHERLANDS 409 376 MAY DEPARTMENT STORES[1] 13,343.0 (1.1) U.S. 410 425 TJX[1] 13,327.9 11.2 U.S. 411 394 EASTMAN KODAK 13,317.0 3.7 U.S. 412 488 AGRICULTURAL BANK OF CHINA[G] 13,303.1 14.1 CHINA 413 380 DELTA AIR LINES 13,303.0 (0.0) U.S. 414 414 EXPRESS SCRIPTS 13,294.5 8.4 U.S. 415 384 COFCO[G] 13,290.1 0.5 CHINA 416 420 NORDEA BANK[41] 13,194.1 9.3 SWEDEN 417 434 STAPLES[1] 13,181.2 13.7 U.S. 418 435 WOLSELEY[30] 13,084.9 12.9 BRITAIN 419 468 CONTINENTAL 13,054.2 21.0 GERMANY 420 466 CORUS GROUP 13,001.2 20.4 BRITAIN 421 491 GASUNIE[G] 12,973.2 26.2 NETHERLANDS 422 478 FORTUM[G] 12,893.1[E] 22.3 FINLAND 423 429 BRITISH AIRWAYS[4] 12,805.6 7.7 BRITAIN 424 407 UNION PACIFIC 12,792.0[¶] 2.4 U.S. 425 458 GUS[4] 12,785.3 15.7 BRITAIN 426 450 FUJI HEAVY INDUSTRIES[4] 12,743.5 13.1 JAPAN 427 433 COSMO OIL[4] 12,691.5[E] 9.3 JAPAN 428 457 ISUZU MOTORS[4] 12,662.8 14.3 JAPAN 429 403 EL PASO[35] 12,653.0[¶] 1.2 U.S. 430 462 TELSTRA[G,9] 12,641.6 16.1 AUSTRALIA 431 -- PLAINS ALL AMERICAN PIPELINE[42] 12,589.8 50.2 U.S. 432 -- CEPSA 12,588.6[E] 39.3 SPAIN 433 456 ELI LILLY 12,582.5 13.6 U.S. 434 441 SODEXHO ALLIANCE[17] 12,532.1 8.8 FRANCE 435 463 SEIKO EPSON[4] 12,511.5 15.3 JAPAN 436 495 NIPPON YUSEN[4] 12,379.4 20.7 JAPAN 437 444 OFFICE DEPOT 12,358.6 8.1 U.S. 438 344 ONEX 12,352.6 (14.4) CANADA 439 431 KYUSHU ELECTRIC POWER[4] 12,320.6 5.6 JAPAN 440 374 MITSUI LIFE INSURANCE[4,43] 12,318.7 (8.8) JAPAN 441 415 FIRSTENERGY 12,317.7 0.7 U.S. 442 452 CENTRAL JAPAN RAILWAY[4] 12,253.1 9.5 JAPAN 443 451 HUMANA 12,226.3 8.6 U.S. 444 -- CRH 12,194.0 22.6 IRELAND 445 475 MANPOWER 12,184.5 14.8 U.S. 446 459 WHIRLPOOL 12,176.0 10.5 U.S. 447 393 WINN-DIXIE STORES[9] 12,168.4 (6.0) U.S. 448 438 EDISON INTERNATIONAL 12,156.0 5.1 U.S. 449 496 DOMINION RESOURCES 12,078.0 18.2 U.S. 450 -- BHARAT PETROLEUM[G,4] 12,053.7[E] 16.1 INDIA 451 469 DAI NIPPON PRINTING[4] 11,987.9 11.6 JAPAN 452 480 THALES GROUP 11,962.1 13.9 FRANCE 453 432 BANK OF NOVA SCOTIA[8] 11,960.0 2.8 CANADA 454 -- HOCHTEIF 11,922.4 5.0 GERMANY 455 460 OBAYASHI[4] 11,918.8 8.3 JAPAN 456 -- PTT[G] 11,904.6[E] 28.0 THAILAND 457 -- PROGRESSIVE 11,892.0 27.9 U.S. 458 479 MANULIFE FINANCIAL 11,887.3 12.9 CANADA 459 464 CANADIAN IMPERIAL BANK OF 11,863.7 9.5 COMMERCE[8] CANADA 460 436 ACCENTURE[17,19] 11,818.0 2.1 U.S. 461 -- SHANGHAI AUTOMOTIVE[G] 11,754.6 36.6 CHINA 462 -- HINDUSTAN PETROLEUM[G,4] 11,750.5[E] 12.9 INDIA 463 439 RELIANT ENERGY[44] 11,707.3 1.3 U.S. 464 412 SOLECTRON[17] 11,700.4 (4.7) U.S. 465 485 MBNA 11,684.4 12.0 U.S. 466 -- SHV HOLDINGS 11,624.9[E] 31.1 NETHERLANDS 467 484 MARSH & MCLENNAN 11,588.0 11.0 U.S. 468 454 WASTE MANAGEMENT 11,574.0 3.9 U.S. 469 449 TOYS "R" US[1] 11,566.0 2.3 U.S. 470 298 ASAHI MUTUAL LIFE INSURANCE[4] 11,550.6 (27.5) JAPAN 471 482 SEKISUI HOUSE[1] 11,544.6 10.1 JAPAN 472 385 DIAGEO[9] 11,537.6[E] (12.7) BRITAIN 473 446 EUROHYPO 11,535.8 1.3 GERMANY 474 471 KINTETSU[4,45] 11,489.9 7.4 JAPAN 475 492 TOPPAN PRINTING[4] 11,485.5 11.8 JAPAN 476 -- DANSKE BANK GROUP 11,479.4 13.3 DENMARK 477 493 AFLAC 11,447.0 11.6 U.S. 478 404 SUN MICROSYSTEMS[9] 11,434.0 (8.5) U.S. 479 -- CHUBB 11,394.0 24.7 U.S. 480 483 KURAYA SANSEIDO[4] 11,366.6 8.7 JAPAN 481 -- PUBLIC SERVICE ENTERPRISE GROUP 11,340.0 28.4 U.S. 482 -- RELIANCE INDUSTRIES[4] 11,327.7[E] 19.4 INDIA 483 352 TXU 11,325.0 (19.6) U.S. 484 442 TAIYO LIFE INSURANCE[4,46] 11,275.1 (2.0) JAPAN 485 -- UPM-KYMMENE 11,258.8 13.7 FINLAND 486 477 SOUTHERN 11,251.0 6.7 U.S. 487 418 POWER CORP. OF CANADA 11,238.5 (7.2) CANADA 488 362 PG&E CORP. 11,221.0 (18.6) U.S. 489 -- MASCO 11,134.0 18.2 U.S. 490 -- IBERDROLA 11,111.2 22.7 SPAIN 491 -- ASAHI KASEI[4] 11,097.6 13.3 JAPAN 492 497 HEALTH NET 11,062.5 8.4 U.S. 493 115 SAMSUNG 11,051.4 (66.5) SOUTH KOREA 494 308 ABBEY NATIONAL 11,041.2 (20.3) BRITAIN 495 467 GREAT ATLANTIC & PACIFIC TEA[10] 11,033.7 2.2 U.S. 496 453 PACIFICARE HEALTH SYSTEMS 11,008.5 (1.3) U.S. 497 -- DAIWA HOUSE INDUSTRY[4] 10,841.8 11.5 JAPAN 498 -- SWISSCOM[G] 10,841.3 16.2 SWITZERLAND 499 447 TOKYU[4] 10,830.8 (4.7) JAPAN 500 476 TORONTO-DOMINION BANK[8] 10,827.2 2.2 CANADA

TOTAL 14,873,027.5

Definitions, explanations, and footnotes are on page 182.