Announcement for June 13, 2019 at 09:03 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
June 28, 2019.



SUMMARY OF THE CHANGES INCLUDED IN THIS ANNOUNCEMENT.


                         Number of
                         GICS changes

CHINA                    1
PHILIPPINES              1


CHINA

KUNLUN ENERGY
CURRENT GICS SUB-INDUSTRY 10102040 Oil & Gas Storage & Transportation
NEW GICS SUB-INDUSTRY     55102010 Gas Utilities


PHILIPPINES

AYALA CORP
CURRENT GICS SUB-INDUSTRY 40201030 Multi-Sector Holdings
NEW GICS SUB-INDUSTRY     20105010 Industrial Conglomerates



* 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.