"MSCI Indices - the clear leader as a European benchmark"

London, June 28, 2000. The prestigious Primark Extel 2000 survey confirms MSCI as the most popular pan-European index provider. This is further evidence that MSCI is leading the index field. The survey, which polls the opinions of leading investment professionals across Europe, revealed that both fund managers and institutions nominate MSCI as their preferred provider of pan-European indices for benchmarking and tracking purposes.

Primark Extel, in a press release covering the results of the survey, proclaimed "MSCI Indices - the clear leader as a European benchmark." In its summary of the results of the pan-European index category, Primark Extel stated that "the evidence suggests that daylight is opening up between MSCI and the competition."

Those surveyed were asked to rank six choices of European equity indices for benchmarking and tracking (on a scale of 1 to 6). Results were as follows:

Benchmarking

Tracking

Commenting today, Henry Fernandez, President of MSCI Inc., said: "We are pleased with the results of the survey. At MSCI we encourage feedback from our clients and regularly update our products and services to reflect their needs. To receive such acclaim from an independent survey shows that our approach is working and we shall continue to improve our services where possible in order to maintain our leadership position."

The award coincides with the announcement that MSCI has, once again, come out on top of the monthly Merrill Lynch/Gallup survey of market share for equity indices. Every month Merrill Lynch commissions Gallup to question a panel of approximately 250 continental European fund managers on their activities in the equity markets. One of the questions they ask is who their current index provider is.

The key findings of the survey in June are as follows:

• MSCI is the dominant index provider in continental Europe with a current market share at just under 70% compared to the other two major providers (Dow Jones STOXX and FTSE International).

• MSCI is currently used by almost four times as many fund managers as the next index provider.

• MSCI has maintained its overall dominant share of the market place leaving the competition fighting for a distant second place.

For a copy of the Merrill Lynch/Gallup June survey results please contact:

Josie Dobrin, Luther Pendragon + 44 20 7353 1500

For further information on MSCI indices or MSCI data, please visit our website at www.msci.com or contact:

Evert-Jan Ten Brundel, MSCI, London + 44 20 7425 6660

Daniel Bacci, MSCI, New York + 1 212 762 5790

John Fildes, MSCI, Hong Kong + 852 2848 5050

Josie Dobrin/Catherine May, Luther Pendragon + 44 20 7353 1500