Press Releases

2007   October MSCI Barra Launches MSCI Global Index Monitor   August MSCI Barra to Consult on a Proposal to Construct Indices for the "Frontier Markets" Countries     MSCI Global Investable Market Index Series August 2007 Quarterly Index Review     MSCI Global Standard Index Series August 2007 Quarterly Index Review     MSCI Global Small Cap Index Series August 2007 Quarterly Index Review     MSCI Pan-Euro and Euro Indices August 2007 Quarterly Index Review     MSCI Global Value and Growth Index Series August 2007 Quarterly Index Review     MSCI Provisional Global Value and Growth Index Series August 2007 Quarterly Index Review     MSCI US Equity Indices August 2007 Quarterly Index Review     MSCI US REIT Index August 2007 Quarterly Index Review     MSCI KOKUNAI Japan Equity Indices August 2007 Quarterly Index Review     MSCI China A Index August 2007 Quarterly Index Review     MSCI China A Value and Growth Index Series May 2007 Quarterly Index Review     MSCI Barra August Index Review Announcement Scheduled for August 16, 2007   July MSCI Barra August and November Index Review Announcements are Scheduled for August 16 and November 5, 2007     MSCI Barra Launches Global Family of Islamic Indices     Carlyle-Blue Wave Adopts BarraOne for Risk Management and Portfolio Analytics     MSCI Barra Opens Sales Office in Mumbai   May MSCI China A Index May 2007 Annual Index Review     MSCI China A Value and Growth Index Series May 2007 Semi-Annual Index Review     MSCI Barra Announces List of Constituents of the MSCI Global Investable Market Indices     MSCI Barra Announces May 2007 MSCI Global Investable Market Value and Growth Indices Initial Construction     MSCI Standard Index Series May 2007 Annual Index Review     MSCI Small Cap Index Series May 2007 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices May 2007 Annual Index Review     MSCI Global Value and Growth Index Series May 2007 Semi-Annual Index Review     MSCI US Equity Indices May 2007 Semi-Annual Index Review     MSCI US REIT Index May 2007 Semi-Annual Index Review     MSCI KOKUNAI Japan Equity Indices May 2007 Semi-Annual Index Review   April CalSTRS Adopts Barra Analytics     MSCI Barra Announcements Scheduled for May 3, 2007     MSCI Barra to Introduce Global Family of Islamic Indices     MSCI Barra Hires Leading Japan Pension Plan Expert   March MSCI Barra Announces MSCI Global Investable Market Indices Methodology and Transition Plan for the MSCI Standard and Small Cap Indices     MSCI Barra to Publish Clarifications and Updates to the MSCI Standard, Small Cap and Domestic Indices Methodology Documents     MSCI Barra to Announce on March 28, 2007 Methodology for the MSCI Global Investable Market Indices and Transition Plan     MSCI Barra Named Index Provider of the Year   February MSCI Barra Opens Office in Chicago     MSCI Standard Index Series February 2007 Quarterly Index Review     MSCI Small Cap Index Series February 2007 Quarterly Index Review     MSCI Pan-Euro and Euro Indices February 2007 Quarterly Index Review     MSCI Global Value and Growth Index Series February 2007 Quarterly Index Review     MSCI US Equity Indices February 2007 Quarterly Index Review     MSCI US REIT Index February 2007 Quarterly Index Review     MSCI China A Index February 2007 Quarterly Index Review     MSCI China A Value and Growth Index Series February 2007 Quarterly Index Review     MSCI KOKUNAI Japan Equity Indices February 2007 Quarterly Index Review     MSCI Barra Opens Office in Dubai     MSCI Barra Strengthens Research Capability with Appointment of Jose Menchero     MSCI Barra Announcements Scheduled for February 13, 2007     Conference Reveals Extent of Demand for Increasingly Sophisticated Portfolio Risk Management Analytics   January CalPERS External Equities Group Adopts Barra Analytics     Additional Information Added to the Consultation Document on Proposed Enhancements to the MSCI Standard and Small Cap Indices     MSCI Barra to Consult on Proposed Methodology Changes and Transition Plan for the MSCI Euro Pan-Euro Indices

2006   December MSCI Barra and S&P to leave the Global Industry Classification Standard (GICS) Structure unchanged in 2007     MSCI Barra Chosen to Calculate New Custom Index for Morgan Stanley   November MSCI Barra to Consult on Updated Methodology and Proposed Transition Plan of Standard and Small Cap Indices to Enhanced Methodology     MSCI Barra Announcement on Proposed Enhancements to its Indices Scheduled for November 16, 2006     MSCI Standard Index Series November 2006 Quarterly Index Review     MSCI Small Cap Index Series November 2006 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices November 2006 Quarterly Index Review     MSCI Global Value and Growth Index Series November 2006 Semi-Annual Index Review     MSCI US Equity Indices November 2006 Semi-Annual Index Review     MSCI US REIT Index November 2006 Semi-Annual Index Review     MSCI China A Index November 2006 Quarterly Index Review     MSCI China A Value and Growth Index Series November 2006 Semi-Annual Index Review     MSCI KOKUNAI Japan Equity Indices November 2006 Semi-Annual Index Review     MSCI Barra Announcements Scheduled for November 14, 2006   October MSCI Barra Announces Decision to Enhance the Existing MSCI Standard and Small Cap Equity Indices     MSCI Barra to Introduce New Equity Indices for China QDII Investors   September MSCI Barra to Introduce High Dividend Yield Indices   August MSCI Standard Index Series August 2006 Quarterly Index Review     MSCI Small Cap Index Series August 2006 Quarterly Index Review     MSCI Pan-Euro and Euro Indices August 2006 Quarterly Index Review     MSCI Global Value and Growth Index Series August 2006 Quarterly Index Review     MSCI US Equity Indices August 2006 Quarterly Index Review     MSCI US REIT Index August 2006 Quarterly Index Review     MSCI China A Index August 2006 Quarterly Index Review     MSCI China A Value and Growth Index Series August 2006 Quarterly Index Review     MSCI KOKUNAI Japan Equity Indices August 2006 Quarterly Index Review     MSCI Barra Announcements Scheduled for August 17, 2006     Plan Sponsors Continue to Adopt the MSCI US Equity Indices   July David Brierwood Appointed Chief Operating Officer of MSCI Barra     MSCI Hedge Invest Index Performance - June 2006   June MSCI Hedge Fund Indices Performance - May 2006     China's National Council for Social Security Fund Selects MSCI Index as Benchmark     MSCI Barra to Launch Full Suite of Value and Growth Style Indices for China A Share Market     MSCI Hedge Invest Index Performance - May 2006   May MSCI Hedge Fund Indices Performance - April 2006     MSCI Standard Index Series May 2006 Annual Index Review     MSCI Small Cap Index Series May 2006 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices May 2006 Annual Index Review     MSCI Global Value and Growth Index Series May 2006 Semi-Annual Index Review     MSCI US Equity Indices May 2006 Semi-Annual Index Review     MSCI US REIT Index May 2006 Semi-Annual Index Review     MSCI China A Index May 2006 Annual Index Review     MSCI KOKUNAI Japan Equity Indices May 2006 Semi-Annual Index Review     MSCI Hedge Invest Indices Performance - April 2006   April MSCI Hedge Fund Indices Performance - March 2006     MSCI Barra to Remove the MSCI Venezuela Index from the MSCI Emerging Markets Index     MSCI Barra to Include Income Trusts in the MSCI Canada Equity Universe     MSCI Hedge Invest Indices Performance - March 2006     MSCI Barra announces the list of Constituents impacted by the GICS Structural Changes     MSCI Hedge Invest Index Quarterly Review: April 2006   March Barra Analytics Now Available via FactSet     MSCI Hedge Fund Indices Performance - February 2006     The Global Industry Classification Standard (GICS) now available on the BLOOMBERG PROFESSIONAL service     MSCI Barra to Consult on a Proposal to Remove the MSCI Venezuela Index from the MSCI Emerging Markets Index     MSCI Barra Appoints New Head of Europe, Middle East & Africa Client Business     MSCI Barra to Consult on Proposed Enhancements to the Standard and Small Cap Equity Indices     MSCI Barra Proposes to Include Income Trusts in the MSCI Canada Equity Universe   February MSCI Hedge Fund Indices Performance - January 2006     MSCI Barra Announces Implementation of Final Phase of Methodology Enhancements to the MSCI 10/40 Equity Indices - February 2006     MSCI Standard Index Series February 2006 Quarterly Index Review     MSCI Small Cap Index Series February 2006 Quarterly Index Review     MSCI Pan-Euro and Euro Indices February 2006 Quarterly Index Review     MSCI Global Value and Growth Index Series February 2006 Quarterly Index Review     MSCI US Equity Indices February 2006 Quarterly Index Review     MSCI US REIT Index February 2006 Quarterly Index Review     MSCI China A Index February 2006 Quarterly Index Review     MSCI KOKUNAI Japan Equity Indices February 2006 Quarterly Index Review     MSCI Barra Announcements Scheduled for February 13, 2006     MSCI Hedge Invest Indices Performance - January 2006     MSCI Publishes the Morgan Stanley Reit Preferred Index (MSRP) Methodology Guide   January MSCI Hedge Fund Indices Performance - December 2005     MSCI Barra Launches Equity Indices for the Gulf Cooperation Council Countries     MSCI Hedge Fund Indices - December 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - December 2005 - Early Reporting Funds     MSCI Hedge Invest Indices Performance - December 2005

2005   December MSCI Hedge Invest Index Quarterly Review: Number of Constituent Funds Increases to 131     MSCI Hedge Fund Indices Performance - November 2005     MSCI Hedge Fund Indices - November 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - November 2005 - Early Reporting Funds     MSCI Barra Launches MSCI BRIC Equity Index   November S&P and MSCI Barra Announce Revisions to the Global Industry Classification Standard (GICS)     MSCI Hedge Fund Indices Performance - October 2005     MSCI Standard Index Series November 2005 Quarterly Index Review     MSCI Small Cap Index Series November 2005 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices November 2005 Quarterly Index Review     MSCI Global Value and Growth Index Series November 2005 Semi-Annual Index Review     MSCI US Equity Indices November 2005 Semi-Annual Index Review     MSCI US REIT Index November 2005 Semi-Annual Index Review     MSCI China A Index November 2005 Quarterly Index Review     MSCI KOKUNAI Japan Equity Indices November 2005 Semi-Annual Index Review     MSCI Hedge Fund Indices - October 2005 - Early Reporting Funds     MSCI Barra will Continue to Monitor the Developments of the Canadian Income Trust Market     MSCI to Consider Standalone Indices for Countries of the Gulf Cooperation Council     MSCI Barra Signs Agreement with FactSet Research Systems Inc.     MSCI Announcements Scheduled for November 16, 2005     MSCI Convertible Arbitrage Index - October 2005 - Early Reporting Funds     Vestek Providing MSCI US Equity Index Data     Perritt Capital Management Adopts MSCI US Micro Cap Index   October ETF Assets Tracking MSCI Indices Now Exceed USD 50 Billion     MSCI Consultation on Current Treatment of Spin-Offs where the Spun-Off Security Does Not Trade on the Ex-Date     MSCI Hedge Fund Indices Performance - September 2005     MSCI Hedge Invest Index Quarterly Review: Number of Constituent Funds Increases to 125     MSCI Hedge Fund Indices - September 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - September 2005 - Early Reporting Funds     MSCI Barra Announces Methodology Enhancements to the MSCI 10/40 Equity Indices - October 2005     Philippe Ballet Appointed to Head MSCI Barra in Japan   September MSCI KOKUNAI Japan Equity Indices Now Available     MSCI Hedge Fund Indices Performance - August 2005     MSCI Hedge Fund Indices - August 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - August 2005 - Early Reporting Funds   August MSCI Hedge Fund Indices Performance - July 2005     MSCI Standard Index Series August 2005 Quarterly Index Review     MSCI Small Cap Index Series August 2005 Quarterly Index Review     MSCI Pan-Euro and Euro Indices August 2005 Quarterly Index Review     MSCI Global Value and Growth Index Series August 2005 Quarterly Index Review     MSCI US Equity Indices August 2005 Quarterly Index Review     MSCI US REIT Index August 2005 Quarterly Index Review     MSCI China A Index August 2005 Quarterly Index Review     MSCI Hedge Fund Indices - July 2005 - Early Reporting Funds     MSCI Announcements Scheduled for August 16, 2005     State Street Global Advisors Introduces Institutional Fund Indexed To MSCI's Domestic US Equity Indices     MSCI Convertible Arbitrage Index - July 2005 - Early Reporting Funds   July MSCI to consult on Income Trusts in Canada     MSCI Hedge Fund Indices Performance - June 2005     MSCI Barra Announces Revised Proposal for the MSCI 10/40 Equity Indices Methodology     MSCI Hedge Fund Indices - June 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - June 2005 - Early Reporting Funds     MSCI Hedge Invest Index Quarterly Review: Number of Constituent Funds Increases to 122   June Assets Benchmarked to MSCI US Equity Indices Exceed $115 Billion     MSCI Hedge Fund Indices Performance - May 2005     MSCI to Launch New Japan Equity Indices for Domestic Investors (June 2005)     MSCI Hedge Fund Indices - May 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - May 2005 - Early Reporting Funds   May MSCI Hedge Fund Indices Performance - April 2005     MSCI Standard Index Series May 2005 Annual Index Review     MSCI Small Cap Index Series May 2005 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices May 2005 Annual Index Review     MSCI Global Value and Growth Index Series May 2005 Semi-Annual Index Review     MSCI US Equity Indices May 2005 Semi-Annual Index Review     Morgan Stanley REIT Index May 2005 Semi-Annual Index Review     MSCI Hedge Fund Indices - April 2005 - Early Reporting Funds     MSCI Barra Launches Domestic MSCI China A Index and Announces Plans for Shanghai Office     MSCI Convertible Arbitrage Index - April 2005 - Early Reporting Funds     MSCI Announcements Scheduled for May 12, 2005     MSCI to Announce the Results of the Morgan Stanley REIT Index (RMS) Semi-Annual Index Review on May 12, 2005     Morgan Stanley REIT Index to be renamed MSCI US REIT Index   April MSCI Hedge Fund Indices Performance - March 2005     MSCI Launches First Multiple-Asset Class Index by Major Provider     MSCI Hedge Fund Indices - March 2005 - Early Reporting Funds     MSCI Consultation on Potential Enhancements to MSCI 10/40 Equity Indices     MSCI Convertible Arbitrage Index - March 2005 - Early Reporting Funds     MSCI Hedge Invest Index Quarterly Review: Number of Constituent Funds Increases to 121     MSCI Announces the List of Constituents Impacted by the GICS Structural Changes   March MSCI Hedge Fund Indices Performance - February 2005     MSCI Launches Hedge Invest Strategy Indices     RIMES Providing MSCI US Equity Index Data     MSCI Hedge Fund Indices - February 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - February 2005 - Early Reporting Funds     MSCI consultation on potential inclusion of Hong Kong listed China Private Enterprises in MSCI China universe - March 2005     MSCI consultation on the definition of the Russian Equity Universe - March 2005   February MSCI Hedge Fund Indices Performance - January 2005     MSCI Standard Index Series February 2005 Quarterly Index Review     MSCI Small Cap Index Series February 2005 Quarterly Index Review     MSCI Pan-Euro and Euro Indices February 2005 Quarterly Index Review     MSCI Global Value and Growth Index Series February 2005 Quarterly Index Review     MSCI US Equity Indices February 2005 Quarterly Index Review     Morgan Stanley REIT Index February 2005 Quarterly Index Review     MSCI Hedge Fund Indices - January 2005 - Early Reporting Funds     MSCI Convertible Arbitrage Index - January 2005 - Early Reporting Funds     MSCI Announcements Scheduled for February 14, 2005     MSCI to Announce the Results of the Morgan Stanley REIT Index (RMS) Quarterly Index Review on February 14, 2005     Vanguard to Adopt MSCI Broad Market Index   January MSCI Publishes the Morgan Stanley REIT Index (RMS) Methodology Guide     MSCI Hedge Fund Indices Performance - December 2004     NOREX Alliance Adopts the Global Industry Classification Standard (GICS) developed by MSCI and Standard & Poor's     MSCI Hedge Fund Indices - December 2004 - Early Reporting Funds     MSCI Announces Methodology Enhancements to the Morgan Stanley REIT Index (RMS)     MSCI to Announce the Results of the Consultation on the Morgan Stanley REIT Index (RMS) on January 11, 2005     MSCI Convertible Arbitrage Index - December 2004 - Early Reporting Funds     MSCI Hedge Invest Quarterly Review: Number of Constituent Funds Increases to 120

2004   December MSCI Hedge Fund Indices Performance - November 2004     MSCI Hedge Fund Indices - November 2004 - Early Reporting Funds     MSCI Convertible Arbitrage Index - Early Reporting Funds - November 2004     MSCI And S&P Announce Revisions to the Global Industry Classification Standard (GICS)     Consultation Paper on Proposed Enhancements to the Morgan Stanley REIT (RMS) Index   November MSCI Takes Over the Management and Ownership of the Morgan Stanley REIT Index (RMS)     MSCI Hedge Fund Indices Performance - October 2004     MSCI Standard Index Series November 2004 Quarterly Index Review     MSCI Small Cap Index Series November 2004 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices November 2004 Quarterly Index Review     MSCI Global Value and Growth Index Series November 2004 Semi-Annual Index Review     MSCI US Equity Indices November 2004 Semi-Annual Index Review     MSCI Hedge Fund Indices - October 2004 - Early Reporting Funds     MSCI Announcements Scheduled for November 16, 2004     MSCI to Launch US Broad Market and Micro Cap Indices   October MSCI Hedge Fund Indices Performance - September 2004     MSCI Hedge Fund Indices - September 2004 - Early Reporting Funds     MSCI Convertible Arbitrage Index - September 2004 - Early Reporting Funds     MSCI Hedge Invest Index Quarterly Review: Number of Constituent Funds Exceeds 100 for the First Time   September MSCI Hedge Fund Indices Performance - August 2004     MSCI Hedge Fund Indices - August 2004 - Early Reporting Funds     MSCI Convertible Arbitrage Index - August 2004 - Early Reporting Funds   August MSCI Hedge Fund Indices Performance - July 2004     FactSet Providing MSCI US Equity Index Data     MSCI Standard Index Series August 2004 Quarterly Index Review     MSCI Small Cap Index Series August 2004 Quarterly Index Review     MSCI Pan-Euro and Euro Indices August 2004 Quarterly Index Review     MSCI Global Value and Growth Index Series August 2004 Quarterly Index Review     MSCI US Equity Indices August 2004 Quarterly Index Review     MSCI Hedge Fund Indices - July 2004 - Early Reporting Funds     MSCI to Consult with Investors on the Framework for Country Reclassification in the MSCI Global Equity Indices     MSCI Announcements Scheduled for August 17, 2004     MSCI Convertible Arbitrage Index - July 2004 - Early Reporting Funds   July MSCI Hedge Fund Indices Performance - June 2004     MSCI Hedge Fund Indices - June 2004 - Early Reporting Funds     MSCI Convertible Arbitrage Index - June 2004 - Early Reporting Funds     MSCI Hedge Invest Index Quarterly Review: Number of Constituent Funds Increases to 97   June MSCI Hedge Fund Indices Performance - May 2004     MSCI To Remove In Two Phases The Limited Investability Factor (LIF) Currently Applied To The MSCI Taiwan Index     MSCI Hedge Fund Indices - May 2004 - Early Reporting Funds     MSCI Convertible Arbitrage Index - May 2004 - Early Reporting Funds     Acquisition of Barra Closes Following Stockholder Approval   May MSCI Hedge Fund Indices Performance - April 2004     MSCI Hedge Fund Indices - April 2004 - Early Reporting Funds     MSCI Standard Index Series May 2004 Annual Index Review     MSCI to Change Anglo American Country Classification from South Africa to the United Kingdom at November 2004 Quarterly Index Review     MSCI Small Cap Index Series May 2004 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices May 2004 Annual Index Review     MSCI Global Value and Growth Index Series May 2004 Semi-Annual Index Review     MSCI US Equity Indices May 2004 Semi-Annual Index Review     MSCI Convertible Arbitrage Index - April 2004 - Early Reporting Funds     Assets Linked To MSCI Hedge Invest Index Pass USD 2 Billion     MSCI Announcements Scheduled for May 11, 2004     MSCI to implement the May 2004 Annual Full Country Index Review as of the close of May 28, 2004 instead of May 31, 2004     Barra Announces Shareholder Meeting Date for Approval of Merger Agreement   April Barra Announces Early Termination of Hart-Scott-Rodino Waiting Period     MSCI Hedge Fund Indices Performance - March 2004     MSCI Hedge Fund Index Pari Passu Methodology Change     MSCI Consultation Paper on a proposal to remove the Limited Investibility Factor (LIF) Currently Applied to the MSCI Taiwan Index     MSCI Hedge Fund Indices - March 2004 - Early Reporting Funds     MSCI Convertible Arbitrage Index - March 2004 - Early Reporting Funds     Barra to be Acquired and Combined with MSCI     MSCIŽ HEDGE INVEST INDEX QUARTERLY REVIEW:NUMBER OF CONSTITUENT FUNDS INCREASES TO 88     MSCI Announces the List of Constituents Impacted by the New GICS Sub-Industry Defintions   March GICS Announcements Scheduled for April 1, 2004     MSCI Hedge Fund Indices Performance - February 2004     MSCI Hedge Fund Indices - February 2004 - Early Reporting Funds     Assets Linked to MSCI Hedge Invest Index Pass USD $1 Billion Milestone     MSCI Convertible Arbitrage Index - February 2004 - Early Reporting Funds   February MSCI Hedge Fund Indices - January 2004     MSCI Hedge Fund Indices - January 2004 - Early Reporting Funds     MSCI US Equity Indices February 2004 Quarterly Index Review     MSCI Global Value and Growth Index Series February 2004 Quarterly Index Review     MSCI Pan-Euro and Euro Indices February 2004 Quarterly Index Review     MSCI Small Cap Index Series February 2004 Quarterly Index Review     MSCI Standard Index Series February 2004 Quarterly Index Review     MSCI Announcements Scheduled for February 12, 2004   January MSCI Hedge Fund Indices - December 2003     MSCI Hedge Fund Indices - December 2003 - Early Reporting Funds     MSCI® Hedge Invest Index - Quarterly Review Number Of Constituent Funds Increases To 82

2003   December MSCI Hedge Fund Indices Performance - November 2003     MSCI Hedge Fund Indices - November 2003 - Early Reporting Funds     MSCI and Standard & Poor's Announce Revisions to the Global Industry Classification Standard (GICS)   November MSCI to use WM/Reuters Notional Exchange Rate for Calculation of Venezuela Index     MSCI Hedge Fund Indices Performance - October 2003     MSCI to adjust Venezuela Exchange Rate     Currency Conversion Methodology Change for the MSCI Hedge Fund Indices     MSCI US Equity Indices November 2003 Semi-Annual Index Review     MSCI Global Value And Growth Index Series November 2003 Semi- Annual Index Review     MSCI Pan-Euro And Euro Indices November 2003 Quarterly Index Review     MSCI Small Cap Index Series November 2003 Semi-Annual Index Review     MSCI Standard Index Series November 2003 Quarterly Index Review     MSCI Hedge Fund Indices - October 2003 - Early Reporting Funds     MSCI Announcements Scheduled for November 13, 2003     Currency Conversion Methodology Change for the MSCI Hedge Fund Indices   October MSCI Proposes Adjustment to Venezuela Exchange Rate     MSCI Hedge Fund Indices Performance - September 2003     MSCI Hedge Fund Indices - September 2003 - Early Reporting Funds     MSCI Continues Review on Relaxation of Restrictions on Foreign Portfolio Investors in Taiwan     MSCI Hedge Invest Quarterly Review number of constituent funds increases to 74   September MSCI Expands Family of Hedge Fund Indices     MSCI Hedge Fund Indices Performance - August 2003     MSCI Hedge Fund Indices - August 2003 - Early Reporting Funds   August MSCI Hedge Fund Indices Performance - July 2003     AMERICAS POWER FAILURE     MSCI Standard Index Series August 2003 Quarterly Index Review     MSCI Small Cap Index Series August 2003 Quarterly Index Review     MSCI Pan-Euro and Euro Indices August 2003 Quarterly Index Review     MSCI Global Value and Growth Index Series August 2003 Quarterly Index Review     MSCI Hedge Fund Indices - July 2003 - Early Reporting Funds     MSCI Announcements Scheduled for August 13, 2003   July MSCI Hedge Invest Index Goes Live     MSCI Hedge Fund Indices Performance - June 2003     MSCI Opens Formal Review on Relaxation of Restrictions on Foreign Portfolio Investors in Taiwan     MSCI Hedge Fund Indices - June 2003 - Early Reporting Funds   June MSCI to Launch the MSCI Hedge Invest Index; MSCI and Lyxor Announce Signing of Agreement     MSCI Hedge Fund Indices Performance - May 2003     MSCI Hedge Fund Indices - May 2003 - Early Reporting Funds   May MSCI Hedge Fund Indices Performance - April 2003     MSCI Small Cap Index Series May 2003 Semi-Annual Index Review     MSCI Hedge Fund Indices - April 2003 - Early Reporting Funds     MSCI Announcements Scheduled for May 15, 2003 (Reminder)   April MSCI Standard Index Series May 2003 Annual Full Country Index Review     MSCI Pan-Euro and Euro Indices May 2003 Annual Index Review     MSCI Global Value and Growth Index Series May 2003 Semi-Annual Index Review     MSCI Hedge Fund Indices Performance - March 2003     MSCI Announcements Scheduled for April 29, 2003 (Reminder)     MSCI Announces the List of Constituents Impacted by the New GICS Structure     MSCI Hedge Fund Indices - March 2003 - Early Reporting Funds     Announcement Dates for May 2003 Index Reviews and GICS Structural Changes   March MSCI Hedge Fund Indices Performance - February 2003     MSCI Hedge Fund Indices - February 2003 - Early Reporting Funds   February MSCI Hedge Fund Indices - January 2003     MSCI Japan Index Futures Gain Approval for US Investors to Trade on Singapore Exchange(SGX)     MSCI Hedge Fund Indices - January 2003 - Early Reporting Funds     MSCI Japan Index Futures Gain Approval for US Investors to Trade on Osaka Securities Exchange     MSCI Global Value and Growth Index Series February 2003 Quarterly Index Review     MSCI Pan-Euro and Euro Indices February 2003 Quarterly Index Review     MSCI Small Cap Index Series February 2003 Quarterly Index Review     MSCI Standard Index Series Feburuary 2003 Quarterly Index Review     MSCI Announcements Scheduled for February 13, 2003   January MSCI Hedge Fund Indices Performance - 2002     MSCI Hedge Fund Indices - December 2002 - Early Reporting Funds

2002   December MSCI Hedge Fund Indices Performance - November 2002     MSCI Hedge Fund Indices - November 2002 - Early Reporting Funds     Amendments to MSCI's announcement policy on corporate events     MSCI and Standard & Poor's Announce Revisions to the Global Industry Classification Standard (GICS)   November MSCI Hedge Fund Indices Performance - October 2002     MSCI Hedge Fund Indices Estimated Performance Figures - October 2002     MSCI Standard Index Series November 2002 Quarterly Index Review     MSCI Small Cap Index Series November 2002 Semi-Annual Index Review     MSCI Pan-Euro and Euro Indices November 2002 Quarterly Index Review     MSCI Announcements Scheduled for November 14, 2002     MSCI ACWI Free and MSCI EMF Now Available in Real Time   October More than 1,500 Hedge Funds have agreed to participate in the MSCI Hedge Fund Indices and database     MSCI Euro Index Basis for New XMTCH Exchange Traded Fund     MSCI Equity Index Constituent Data Now In Real Time On Bloomberg   September MSCI Develops Enhanced Methodology for its Global Value and Growth Indices     MSCI Emerging Markets Free Index - Basis for New iSHARES Exchange Traded Fund     MSCI EAFE Index forms basis of EFA Options     MSCI Launches 10/40 Equity Index Methodology   August MSCI Small Cap Index Series August 2002 Quarterly Index Review     MSCI Pan-Euro and Euro Indices August 2002 Quarterly Index Review     MSCI Standard Index Series August 2002 Quarterly Index Review     Clarification on changes to MSCI Pan-Euro and Euro Indices     MSCI Announcements scheduled for August 13, 2002     MSCI Developing New US Equity Indices for Domestic Investors   July MSCI International Equity Indices--Basis for New VIPERs Exchange Traded Shares     MSCI Appoints New Head of Japan     New MSCI Japan Futures Contract Launches on OSE     MSCI Launches Family of Hedge Fund Indices     MSCI Equity Indices Maintain Leading Position   June MSCI Consultation on Tradable Indices   May Amendments to MSCI Equity Index Rebalancing Policy (May 2002)     MSCI Consultation on a Revised Methodology for Global Value and Growth Benchmark Indices     SGX MSCI Japan Index Futures Contract -- Now Trading on the Singapore Exchange Limited (SGX)     MSCI Small Cap Index Rebalancing for May 2002   April MSCI Small Cap announcement scheduled for May 7, 2002     MSCI Pan-Euro and Euro Indices Rebalancing for May 2002     MSCI Pan-Euro and Euro announcement scheduled for April 22, 2002     MSCI Equity Index Rebalancing for May 2002     MSCI Announcement scheduled for April 11, 2002   March Launch of the MSCI-Red Herring Index     MSCI Japan Futures Contract - License Agreement signed with the Singapore Exchange Limited (SGX)     German ETF On The MSCI World Index is Global First   February Consultation on Proposed Amendments to MSCI Index Rebalancing Policy     Update on Argentina and Additional Composite Indices using Argentine ADR Prices     MSCI Argentina Under Review   January Upcoming MSCI Index Changes     Standard & Poor's and MSCI Announce Revisions to the Global Industry Classification Standard (GICS)

2001   November MSCI Announces Constituents for the MSCI Standard Pan-Euro and Euro Indices   October Launch of MSCI Europe Sector ETFs Completed By SSgA Europe     November 2001 Rebalancing - Pro Forma Constituents of the MSCI Standard Index Series     MSCI Index Rebalancing for November 2001     MSCI Releases date for Index Rebalancing Announcement     MSCI Announcement Scheduled for October 2, 2001   September MSCI Announces Constituents for the Provisional Pan-Euro and Euro Indices     MSCI Europe Sector ETFs Launched By SSgA Europe     MSCI Small Cap Index Rebalancing   August MSCI Announces date for Small Cap Index Rebalancing     MSCI Provisional EAFE Index - Basis for new iShares Exchange Traded Fund     MSCI Quarterly Index Rebalancing   July MSCI United Kingdom Index is basis for State Street's latest ETF in Europe   June GICS Direct to be launched by MSCI and Standard & Poor's as the Global Industry Classification Standard (GICS) is Expanded to 19,000 Companies     MSCI Pan-Euro Index is Underlying the first of a series of MSCI Index-Based ETFs to be launched by State Street in Europe     MSCI Tops Thomson Extel Pan-European survey for second year   May MSCI Announces Provisional Index Constituents   April MSCI Announces date for Provisional Index Constituents     MSCI Equity Index Rebalancing for Greece, Egypt and Morocco     RIXML.ORG Adopts Global Industry Classification Standard (GICS)SM   February MSCI Launches Global Real Time Equity Indices     MSCI Launches Global Sector Indices     Enhancements to the MSCI Small Cap Indices     MSCI Quarterly Index Rebalancing     State Street to Launch ETFs Based on MSCI indices on Euronext   January Michel Serieyssol to Head MSCI's Hedge Fund Index Business     Client Communication - Email Branding

2000   December MSCI Announces opening of three new offices     MSCI China free index futures and options to be developed     Inclusion weight of MSCI Taiwan     MSCI to adjust for free float and to increase coverage to 85%     New Fixed Income Index     MSCI FLOAT AND COVERAGE ANNOUNCEMENT ON DECEMBER 10, 2000   November NOREX Alliance Adopts New Global Industry Classification Standard (GICS)     MSCI Quarterly Index Rebalancing     MSCI Confirms Increase in Inclusion Weight of Taiwan Index   October SSGA and MSCI Announce Agreement to Launch MSCI-Based ETF's in Europe   August MSCI Quarterly Index Rebalancing     MSCI Australia Index Futures Contract To List on ADX   July Status Of MSCI Greece, Egypt and Morocco Indices To Change   June "MSCI Indices - the Clear Leader as a European Benchmark"     SGX MSCI Singapore Futures Gain Approval for US Investors To Trade on Singapore Exchange     MSCI Offers Two New Regional Asian Indices: MSCI Zhong Hua and MSCI Golden Dragon   May US Exchange-Traded Funds Based on MSCI Indices Launched by Barclays Global Investors     MSCI Quarterly Index Rebalancing     MSCI Latest Country Rebalancing Dates as of May 2000     MSCI Fixed Income Credit Indices: Constituents To Be Reclassified Based On Global Industry Classification Standard (GICS)   January MSCI Announces Intent To Launch MSCI Hedge Fund Indices

1999   November MSCI Launches Euro Credit Index and Sovereign Debt Indices   August MSCI and S&P Jointly Establish New Global Industry Classification Standard   July MSCI Announces Real-Time European Indices   May MSCI-Based European Derivatives Begin Trading

1998   September Malaysia to Be Removed From MSCI EAFEĢ