Announcement for September 02, 2019 at 08:17 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

ARGENTINA INTRODUCES CAPITAL CONTROLS

Following the announced imposition of capital controls in Argentina on September
1, 2019, MSCI is closely monitoring market developments and analyzing their
potential impact on the accessibility of the Argentinian equity market and the
replicability of the MSCI Argentina Indexes.

As previously communicated in the context of the recent reclassification of the
MSCI Argentina Index to Emerging Markets status, the introduction of restrictive
measures, such as capital or foreign exchange controls, may result in material
deterioration of an equity market's accessibility. Hence, the current action by
the Argentine government could lead to the reclassification of the MSCI
Argentina Index to Standalone Market status in accordance with the MSCI Market
Classification Framework. As a reminder, any such decision by MSCI would be
preceded by a public consultation.

For now, MSCI believes that the MSCI Argentina Indexes remain replicable,
despite the introduction of capital controls, as only foreign listings and
depositary receipts are eligible for the MSCI Argentina Indexes.

MSCI welcomes feedback from market participants on the restrictions introduced
by the Argentinian authorities and their practical implications for
international institutional investors.

MSCI will continue to monitor the situation and release further communication as
more information becomes available.

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.