MSCI Barra Signs Agreement with FactSet Research Systems Inc.

Barra Models and Analytics to be Made Available via FactSet DIRECTIONS

New York —

MSCI Barra, a leading provider of benchmark indices and risk management analytics products, announced today that it has signed an agreement with FactSet Research Systems Inc., a leading provider of portfolio analytic services to asset managers, to distribute Barra models and analytics through the FactSet DIRECTIONS platform.

"Clients can access MSCI Barra's industry-leading risk models and analytics in a way that best fits their processes and systems," said Rabbe Ekholm, Managing Director at MSCI Barra, "be it through our traditional best-of-breed software, integration with their internal systems, or a leading third-party platform such as FactSet."

Chris Ellis, Director of Portfolio Analytics at FactSet, commented, "We are delighted to have signed this agreement with MSCI Barra to extend our outstanding relationship from MSCI indices to now also include Barra models and analytics. Barra's distinctive philosophy on predicted risk is a superb complement to FactSet's portfolio analysis capabilities."

The Barra products will become available on FactSet DIRECTIONS in phases throughout 2006.

About MSCI Barra

MSCI (www.msci.com) develops and maintains equity, fixed income, multi-asset class, REIT and hedge fund indices that serve as the benchmark for an estimated USD 3 trillion on a worldwide basis. In 2004 MSCI acquired Barra, Inc. ("Barra"). Barra analytics (www.barra.com) help the world's largest investors analyze, measure and manage portfolio and firm-wide investment risk. MSCI Barra is headquartered in New York, with research and commercial offices around the world. Morgan Stanley, a global financial services firm and a market leader in securities, asset management, and credit services, is the majority shareholder of MSCI, and Capital Group International Inc., is the minority shareholder. MSCI Barra is a service mark of Morgan Stanley Capital International Inc. ("MSCI" or "MSCI Barra").

About FactSet

FactSet Research Systems Inc. (www.factset.com) is a leading provider of global financial and economic information, including fundamental data on tens of thousands of companies worldwide. Combining more than 200 databases into its own dedicated online service, the Company also provides the tools to download, combine and manipulate the data for investment analysis. The Company, headquartered in Norwalk, Connecticut, was formed in 1978 and now conducts operations, along with its affiliates, from more than twenty-two locations worldwide, including Boston, New York, Chicago, San Mateo, London, Frankfurt, Paris, Tokyo, Hong Kong and Sydney.

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For further information on MSCI indices or MSCI data, please visit our web site at www.msci.com. For further information on Barra products, please visit our web site at www.barra.com

Or contact:

Dorsey Horowitz, MSCI Barra, New York + 1 212 762 5790
Sonal Patel, MSCI Barra, London + 44 20 7425 6660
Sarah Chan, MSCI Barra, Hong Kong + 852 2848 6740
Masao Ikeda, MSCI Barra, Tokyo + 813 5424 5470
PR:
Ben Curson/Clare Rowsell, Penrose Financial, London + 44 20 7786 4888
Ann Taylor Reed, Abernathy MacGregor, New York + 1 212 371 5999

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