MSCI Risk Weighted Index Total Returns as of 12/31/2003

  Index Levels Returns Compound Annual Returns
MSCI Index Last Day MTD QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr
MSCI ACWI RISK WEIGHTED INDEX 488.883 0.37% 6.88% 15.79% 48.16% 48.16% 9.83% 8.72% N/A
ACWI IMI RISK WEIGHTED N/A N/A N/A N/A N/A N/A N/A N/A N/A
MSCI AC ASIA ex JP RISK WEIGHTED INDEX 338.398 0.37% 6.70% 15.48% 53.22% 53.22% 17.99% 10.52% N/A
MSCI AC ASIA PAC ex JP RW INDEX 357.825 0.52% 7.08% 16.63% 54.74% 54.74% 20.71% 13.54% N/A
MSCI EAFE RISK WEIGHTED INDEX 549.423 0.47% 7.17% 15.06% 46.41% 46.41% 7.60% 6.64% 7.27%
MSCI EUROPE RISK WEIGHTED INDEX 569.632 0.73% 7.35% 19.13% 45.49% 45.49% 6.14% 4.64% 10.45%
MSCI KOKUSAI RISK WEIGHTED INDEX 555.400 0.56% 6.33% 16.58% 42.95% 42.95% 8.46% 7.52% 10.77%
MSCI NORTH AMERICA RISK WEIGHTED INDEX 634.648 0.33% 5.30% 14.44% 35.10% 35.10% 6.11% 7.65% 12.07%
MSCI PACIFIC ex JP RISK WEIGHTED INDEX 394.809 0.67% 6.36% 15.58% 53.04% 53.04% 20.21% 14.96% 4.37%
MSCI PACIFIC RISK WEIGHTED 534.668 0.19% 6.97% 11.45% 47.18% 47.18% 9.43% 9.25% 1.96%
MSCI WORLD RISK WEIGHTED INDEX 573.102 0.42% 6.53% 14.80% 42.72% 42.72% 7.15% 7.01% 9.02%
MSCI WORLD ex AUSTRALIA RISK WEIGHTED index 584.521 0.37% 6.39% 14.36% 41.05% 41.05% 5.48% 5.98% 8.59%
WORLD IMI RISK WEIGHTED N/A N/A N/A N/A N/A N/A N/A N/A N/A
MSCI WORLD ex UK RISK WEIGHTED INDEX 570.283 0.40% 6.46% 14.50% 43.16% 43.16% 7.39% 7.21% 8.91%
MSCI WORLD ex USA RISK WEIGHTED INDEX 1,990.807 0.55% 7.19% 15.39% 47.30% 47.30% 8.28% 7.41% N/A
MSCI AUSTRALIA RISK WEIGHTED INDEX 463.950 0.89% 8.02% 19.10% 56.46% 56.46% 23.64% 16.32% 11.11%
MSCI CANADA RISK WEIGHTED INDEX 446.065 1.50% 7.39% 19.29% 57.96% 57.96% 16.45% 16.50% 13.02%
MSCI JAPAN RISK WEIGHTED INDEX 687.216 -0.22% 7.50% 8.47% 41.76% 41.76% 1.73% 4.43% 0.35%
MSCI UK RISK WEIGHTED INDEX 626.512 0.62% 7.31% 18.02% 38.02% 38.02% 4.56% 5.02% 9.73%
MSCI USA RISK WEIGHTED INDEX 680.536 0.05% 4.81% 13.32% 29.81% 29.81% 3.56% 5.57% 11.62%
MSCI EM RISK WEIGHTED INDEX 298.812 0.20% 7.94% 18.71% 64.71% 64.71% 17.72% 13.96% N/A
EM IMI RISK WEIGHTED N/A N/A N/A N/A N/A N/A N/A N/A N/A
MSCI EM EMEA RISK WEIGHTED 289.082 -0.10% 7.55% 19.24% 65.34% 65.34% 14.14% 17.11% N/A
MSCI EM LATIN AMERICA RISK WEIGHTED 223.405 0.07% 9.26% 21.27% 84.79% 84.79% 15.18% 13.43% N/A
EM ASIA RISK WEIGHTED 349.081 0.40% 7.70% 17.53% 55.92% 55.92% 20.96% 11.08% N/A

This information is the property of MSCI Inc. and/or its subsidiaries (collectively, "MSCI"). It is provided for informational purposes only, and is not a recommendation to participate in any particular trading strategy. The information may not be used to verify or correct data, or any compilation of data or index or in the creation of any indices. Nor may it be used in the creating, writing, offering, trading, marketing or promotion of any financial instruments or products. This information is provided on an "as is" basis. Although MSCI shall obtain information from sources which MSCI considers reliable, none of the MSCI, its subsidiaries or its or their direct or indirect information provider or any other third party involved in, or related to, compiling, computing or creating the information (collectively, the "MSCI Parties") guarantees the accuracy and/or the completeness of any of this information. None of the MSCI Parties makes any representation or warranty, express or implied, as to the results to be obtained by any person or entity from any use of this information, and the user of this information assumes the entire risk of any use made of this information. None of the MSCI Parties makes any express or implied warranties, and the MSCI Parties hereby expressly disclaim all warranties of merchantability or fitness for a particular purpose with respect to any of this information. Without limiting any of the foregoing, in no event shall any of the MSCI Parties have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. MSCI, Barra, RiskMetrics, ISS, CFRA, and FEA and all other service marks referred to herein are the exclusive property of MSCI and/or its subsidiaries. All MSCI indices and data are the exclusive property of MSCI and may not be used in any way without the express written permission of MSCI.