MSCI US REIT INDEX AUGUST 2005 QUARTERLY INDEX REVIEW
Princeton, August 16, 2005. MSCI Barra, a leading provider of benchmark indices and risk management
analytics products, announced today changes to the MSCI US REIT Index that will be effective as of theclose of August 31, 2005. These changes result from the August 2005 Quarterly Index Review.
There will be no additions to or deletions from the MSCI US REIT Index. A total of 98 securities will haveupdates in their number of shares, two of which will be in excess of 5% of the security’s total sharesoutstanding. The Domestic Inclusion Factor (DIF) for one security will change in order to more accuratelyreflect the availability of shares.
The MSCI US REIT Index is comprised of Equity REIT securities that belong to the MSCI US Investable
Market 2500 Index. The MSCI US Equity Indices, and consequently the MSCI US REIT Index, are partiallyreviewed at the end of February and August (Quarterly Index Review). Quarterly Index Reviews may result inchanges in DIFs or updates in number of shares. There are no additions to or deletions from the MSCI US
REIT Index during the Quarterly Index Review, given that the number of constituents of the MSCI US
Investable Market 2500 Index remain unchanged. As a reminder, a deletion or addition may arise due to acorporate event or early inclusion coinciding with the Quarterly Index Review or from corrections to theMSCI US REIT Index eligible universe.
In addition, please note that the Real Estate Industry is one of the topics included in the 2005 Global
Industry Classification Standard (GICS) Consultation paper. The consultation may or may not result in anychanges to the GICS structure. The complete consultation document can be found on MSCI’s website atwww.msci.com/consultation.
The results of the August 2005 Quarterly Index Review for the MSCI US Equity Indices, the MSCI Standard
and the Small Cap Index Series, the MSCI Global Value and Growth Index Series, the MSCI Pan-Euro andEuro Indices as well as the MSCI China A Index have also been posted on MSCI’s web site atwww.msci.com.
About MSCI Barra
MSCI (www.msci.com) develops and maintains equity, REIT, fixed income, multi-asset class and hedge fundindices that serve as the benchmark for an estimated USD 3 trillion on a worldwide basis and owns Barra,Inc. (“Barra”). Barra analytics (www.barra.com) help the world’s largest investors analyze, measure andmanage portfolio and firm-wide investment risk. MSCI Barra is headquartered in New York, with researchand 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 CapitalInternational Inc., part of the global investment management group of The Capital Group Companies, Inc., isthe 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 orcontact:
Dorsey Horowitz, MSCI, New York
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Sarah Chan, MSCI, Hong Kong
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+ 44 20 7425 6660
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an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading
strategy, and MSCI does not endorse, approve or otherwise express any opinion regarding any issuer, securities,
financial instruments or products or trading strategies that may be described or mentioned herein. Further, none of theInformation is intended to constitute investment advice or a recommendation to make (or refrain from making) any kindof investment decision and may not be relied on as such. The user of the Information assumes the entire risk of any useit may make or permit to be made of it. NEITHER MSCI, ANY OF ITS AFFILIATES OR ANY OTHER THIRDPARTY INVOLVED IN MAKING OR COMPILING ANY OF THE INFORMATION MAKES ANY EXPRESS ORIMPLIED WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE INFORMATION (OR THERESULTS TO BE OBTAINED BY THE USE THEREOF), AND MSCI, ITS AFFILIATES AND EACH SUCHOTHER THIRD PARTY HEREBY EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES (INCLUDING,WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF ORIGINALITY, ACCURACY, TIMELINESS, NONINFRINGEMENT, COMPLETENESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE)
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Morgan Stanley Capital International, MSCI®, ACWI, EAFE®, Barra®, MSCI Barra and all other service marks referredto herein are the exclusive property of MSCI or its affiliates, except as provided below. All MSCI indices are theexclusive property of MSCI and may not be used in any way without the express written permission of MSCI. The
Global Industry Classification Standard (GICS) was developed by and is the exclusive property of MSCI and Standard &Poor’s. “Global Industry Classification Standard (GICS)” is a service mark of MSCI and Standard & Poor’s.

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