Announcement for August 28, 2020 at 04:25 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

TREATMENT OF THE MSCI NEW ZEALAND INDEXES IN THE EVENT OF UNFORESEEN MARKET
CLOSURES AS PART OF THE AUGUST 2020 QUARTERLY INDEX REVIEWS

Following the disruptions on the New Zealand Stock Exchange over the past few
days, MSCI clarifies the treatment of the MSCI New Zealand Indexes in the event
of an unforeseen market closure of the New Zealand Stock Exchange on the
effective implementation date of the August 2020 Quarterly Index Review (QIR).

The MSCI August 2020 QIR is currently scheduled to be implemented as of the
close of August 31, 2020. In the event that an unforeseen market closure of less
than one full trading day on the New Zealand Stock Exchange occurs on the
effective implementation date of the August 2020 QIR, the August 2020 QIR for
the MSCI New Zealand Indexes will be implemented as scheduled.

However, in the event that the New Zealand Stock Exchange remains closed for the
entire trading day on the effective implementation date of the August 2020 QIR,
MSCI will postpone all index review changes related to the MSCI New Zealand
Indexes. In this occurrence, MSCI will implement the August 2020 QIR changes for
the MSCI New Zealand Indexes two full business days after the day that the
market reopens for trading.

In addition, MSCI will not implement any changes (additions, deletions,
constraint factor changes) in the MSCI Factor, ESG, Thematic and Capped Indexes
for any security classified in New Zealand. Please note that if as a result of
not implementing a constraint factor change on a security in New Zealand in an
MSCI 10/40 Index, MSCI 25/50 Index or MSCI 35/65 Index, the Index were not to be
compliant with the concentration constraints described in these index
methodologies the constraint factor change will be implemented regardless of the
treatment mentioned above.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.