MSCI US Equity Indices February 2006 Quarterly Index Review

Princeton —

MSCI Barra, a leading provider of benchmark indices and risk management analytics products, announced today changes to the MSCI US Equity Indices that will be effective as of the close of February 28, 2006. These changes result from the February 2006 Quarterly Index Review. The full list of additions to and deletions from the MSCI US Equity Indices has been posted on MSCI's web site at http://www.msci.com/us.

Three securities, Advanced Micro Devices, Phelps Dodge Corp and Legg Mason Common, will be added to the MSCI US Large Cap 300 Index. These securities will also be added to the MSCI US Large Cap Growth Index. There will be no deletions from the MSCI US Large Cap 300 Index.

The additions to the MSCI US Mid Cap 450 Index are Allegheny Technologies, CB Richard Ellis Group, Intuitive Surgical and Joy Global. All four securities will also be added to the MSCI US Mid Cap Growth Index. There will be five securities deleted from the MSCI US Mid Cap 450 Index.

Two securities will be added to the MSCI US Small Cap 1750 Index. They are Lear Corp and Westwood One. Both of these securities will also be added to the MSCI US Small Cap Value Index. Four securities will be deleted from the MSCI US Small Cap 1750 Index.

There will be no additions to or deletions from the MSCI US Micro Cap Index.

In addition, there will be changes for certain constituents resulting from significant changes in free float estimates and updates in number of shares. These changes will also be effective as of the close of February 28, 2006.

The results of the February 2006 Quarterly Index Review for the MSCI US REIT Index, MSCI Standard Index Series, MSCI Small Cap Index Series, MSCI Global Value and Growth Index Series, MSCI Kokunai Indices, MSCI China A Index and MSCI Pan-Euro and Euro Indices, have also been posted on MSCI's web site at www.msci.com.

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").

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

For media enquiries please contact:
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MSCI Barra Global Client Service:
Dorsey Horowitz, MSCI Barra, New York + 1 212 762 5790
Aatish Suchak, MSCI Barra, London + 44 20 7425 6660
Sarah Sachdev, MSCI Barra, Hong Kong + 852 2848 6740
Masao Ikeda, MSCI Barra, Tokyo + 813 5424 5470

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