Announcement for January 29, 2020 at 09:16 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

IMPLEMENTATION OF BREXIT IN THE MSCI EQUITY INDEXES

Further to what was announced on January 23, 2020, MSCI confirms the
implementation of Brexit in the MSCI Indexes, following the ratification of the
Withdrawal Agreement Bill by both the UK and EU Parliament. Changes to the MSCI
indexes will be implemented as of close of January 31, 2020, coinciding with the
Brexit date.

As a reminder, UK securities will 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 will 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 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.