Announcement for January 22, 2020 at 09:20 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

IMPLEMENTATION OF BREXIT IN THE MSCI EQUITY INDEXES

As previously announced, the Brexit date is set for January 31, 2020. Resultant
changes to the MSCI indexes will be implemented as of close of January 31, 2020,
coinciding with the Brexit date. This implementation date is subject to
ratification of the Withdrawal Agreement Bill by both the UK and EU Parliament.
Upon receiving additional information pertaining to the pending ratifications,
MSCI will confirm the implementation in the MSCI Indexes.

As a reminder, UK securities would be excluded from certain MSCI Equity Indexes
using the EU region as a reference such as:

- MSCI EU Index (MSCI Code: 990600)
- MSCI EU Large Cap Index (MSCI Code: 650081)
- MSCI EU Mid Cap Index (MSCI Code: 652598)
- MSCI EU IMI (MSCI Code: 664228)
- MSCI EU Small Cap Index (MSCI Code: 655069)

There would be no impact on the MSCI Regional Indexes using other regions as a
reference, such as the MSCI Europe Index or the MSCI EAFE Index.

For more details on the potential impact of Brexit on the MSCI Equity Indexes,
please refer to the General Q&A that has been posted in the MSCI web page:
https://www.msci.com/brexit

FOR ANY INQUIRY, PLEASE DO NOT REPLY TO THIS EMAIL BUT EMAIL
clientservice@msci.com OR CONTACT:

MSCI Global Client Service:
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THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.