Recent Index Announcements
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Disclaimer & Announcement Guidelines

Announcement Policy
MSCI will announce all additions to and deletions from the MSCI Standard Index Series and the MSCI Small Cap Index Series two days, if possible, prior to their index implementation. If warranted, MSCI may make additional announcements regarding changes to the MSCI Standard Index Series and the MSCI Small Cap Index Series.

Constituent changes for the MSCI Standard Index Series will be announced on MSCI's web site at www.msci.com, on Bloomberg page MSCN, and Reuters public pages MSCIA and following.

Constituent changes for the MSCI Small Cap Index Series will be announced on MSCI's web site at www.msci.com and on Bloomberg page MSCN.

Market Closure Policy
Many changes in the indexes take place as of the close of the last trading day of a given month (including Quarterly Index Reviews and Annual Full Country Index Reviews). However, due to individual stock market holidays, the "last trading day" is not consistent for all markets. This policy is to clarify the handling and timing of events in case of a market closure.

When a given stock market is closed on the "as of the close of" date, the change will be effective on the next day using the price of the previous day close. For example: A change is announced effective as of the close of 31-May. However, if the stock market of the given country/security is closed on 31-May, the change will be reflected in the index of 1-Jun with the prices as of the close of 30-May.