Announcement for January 19, 2018 at 09:15 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

CAPITAL GAINS TAX CHANGES POTENTIALLY IMPACTING THE KOREAN EQUITY MARKET

MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and
analytics, is closely monitoring developments related to the potential capital
gains tax changes in Korea and its potential impact on the Korean equity market.

In August 2017, the Ministry of Strategy and Finance (MOSF) in South Korea
announced a series of tax reform proposals. One of these proposals would reduce
the shareholding ownership threshold at which capital gains tax would be
triggered for foreign investors on listed securities transactions, from 25% to
5%.

More specifically, the capital gains tax would be triggered if a foreign
investor and its related parties collectively hold 5% or more of the listed
company's outstanding shares at the time of the sale or at any point in time
over the past five years prior to the sale.

MSCI is of the view that this proposal, if implemented as presented, could
potentially have negative impacts on Korean equity market accessibility and
hence, the replicability of the MSCI Korea Indexes and the MSCI Emerging Markets
Index. Based on initial feedback from market participants, the introduction of
the new rule may result, among other things, in delays related to potential tax
reclaims which could affect the timing of fund redemptions as well as
uncertainties related to practical implementation of the new rules. These
developments may specifically impact the Efficiency of the Operational
Framework, which MSCI categorizes as a key component within its assessment of
overall market accessibility.

The tax reform proposal is open to public consultation by the MOSF until January
29, 2018 and is expected to be effective on July 1, 2018. MSCI will continue to
monitor any related policy decisions or updates and issue further communication
as more information becomes available.

MSCI welcomes feedback from market participants on the potential impact of the
tax reform on the Korean equity market and investment process.

For further information on MSCI indexes or MSCI data, please visit our web site
at www.msci.com, or contact:

MSCI Global Client Service:
Americas Client Service: 1.888.588.4567 (toll free)/+ 1.212.804.3901
EMEA Client Service: + 44.20.7618.2222
Asia Pacific Client Service: + 852.2844.9333

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.