Announcement for December 03, 2019 at 10:00 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
December 31, 2019.

SUMMARY OF THE CHANGES INCLUDED IN THIS ANNOUNCEMENT.


                         Number of
                         GICS changes

FRANCE                   1
JAPAN                    1
TAIWAN                   1


FRANCE

BOLLORE
CURRENT GICS SUB-INDUSTRY 20301010 Air Freight & Logistics
NEW GICS SUB-INDUSTRY     50202010 Movies & Entertainment


JAPAN

YASKAWA ELECTRIC CORP
CURRENT GICS SUB-INDUSTRY 45203015 Electronic Components
NEW GICS SUB-INDUSTRY     20106020 Industrial Machinery


TAIWAN

YUANTA FINANCIAL HOLDING
CURRENT GICS SUB-INDUSTRY 40203020 Investment Banking & Brokerage
NEW GICS SUB-INDUSTRY     40201020 Other Diversified Financial 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.