Announcement for April 17, 2018 at 09:00 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
April 30, 2018.


SUMMARY OF THE CHANGES INCLUDED IN THIS ANNOUNCEMENT.


                         Number of
                         GICS changes

USA                      1


USA

CVS HEALTH
CURRENT GICS SUB-INDUSTRY 30101010 Drug Retail
NEW GICS SUB-INDUSTRY     35102015 Health Care Services



* 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.