Announcement for November 20, 2018 at 10:01 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

CONCLUSIONS FROM THE CONSULTATION ON PROPOSED ENHANCEMENTS TO THE MSCI CORPORATE
EVENTS METHODOLOGY

Following feedback from market participants received during the consultation,
MSCI will implement the four proposed changes below:

1. Introduction of a new framework when the daily price limit is breached on a
corporate events implementation day.
Key changes:
- Systematically postpone addition/migration to/from the MSCI Standard indexes
if a security is not trading at 12PM local time on the implementation day due to
price limit breach.
- The changes will be implemented giving 2 full business days advance
notification after the security resumes to normal trading without breaching the
daily price limit.

This change is expected to be implemented in the first half of 2019 with
sufficient advance notification.

2. Right issues with incomplete information on the ex-date.
Key changes:
- "In the money" rights issues: MSCI will apply a Price Adjustment Factor and
increase number of shares during the subscription period with two full business
days advance notification from the announcement of the subscription price.
- "Out of the money" rights issues: MSCI will apply a PAF of 1 with two full
business days advance notification from the announcement of the subscription
price and will increase the number of shares after the results are announced if
the change is greater than 5%/10%/25% for Standard, Small Caps and Micro Caps.

Corporate Events announced by MSCI on December 10, 2018 onwards will be subject
to this methodological enhancement.

3. US optional dividends.
Key changes:
- Event will be treated as a combination of cash dividend and stock dividend on
the ex-date.
- Apply a PAF on the ex-date reflecting the cash and the shares component
assuming that the cash component will reach its cap and increase the NOS as of
the close of ex-date.

Corporate Events announced by MSCI on December 10, 2018 onwards will be subject
to this methodological enhancement.

4. Introduction of a new framework for three connected topics related to
the deletion of targets of acquisitions:
Key changes:
- Provide systematically two full business days advance notification to delete
target securities of acquisitions across all markets.
- Canadian acquisitions: Delete Canadian target securities as of the close of
the expected completion date when publicly available.
- To maintain already delisted index constituents at the offer consideration.

Corporate Events announced by MSCI on December 10, 2018 onwards will be subject
to this methodological enhancement.

MSCI would like to additionally thank the investment community for the valuable
feedback received on the other selective topics included in the consultation
pertaining to long term capital Gains in India, direct route listing and
cross-border corporate events. MSCI will assess whether or not any of these
topics will be included in future consultations.

An updated MSCI Corporate Events Methodology book to account for enhancements 2,
3 and 4 noted above will be available on December 10, 2018 on the MSCI's web
site at https://www.msci.com/index-methodology.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.