Announcement for January 04, 2021 at 10:02 PM GMT

Global Industry Classification Standard (GICS) Changes*

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

The following Industry changes will take place as of the close of
January 29, 2021.

SUMMARY OF THE CHANGES INCLUDED IN THIS ANNOUNCEMENT.


                         Number of
                         GICS changes

UNITED KINGDOM           1


UNITED KINGDOM

MELROSE INDUSTRIES
CURRENT GICS SUB-INDUSTRY 20104020 Heavy Electrical Equipment
NEW GICS SUB-INDUSTRY     20105010 Industrial Conglomerates

* Twice a month, MSCI announces changes
in the Global Industry Classification Standard (GICS) at Industry level. For
every change, the whole Sub-Industry code is provided. Changes at Sub-Industry
level only are not announced.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.