MSCI SMALL CAP INDEX SERIES AUGUST 2003 QUARTERLY INDEX REVIEWGeneva, August 13, 2003. MSCI announced today changes to the MSCI Small Cap Index Series that will beeffective as of the close of August 29, 2003. These changes result from the August 2003 Quarterly Index
Review. The list of additions to and deletions from the MSCI Small Cap Index Series has been posted on
MSCI’s web site at http://www.msci.com/smallcap.
Effective as of the close of August 29, 2003, no securities will be added to the MSCI Small Cap Index Series
and one security will be deleted. The quarterly review of free float estimates resulted in changes in Foreign
Inclusion Factors (FIFs) for 27 securities in the MSCI Small Cap Index Series.
FIFs adjust the market capitalization of securities for free float available to foreign investors. These changes
reflect the evolution of shareholdings, changes in Foreign Ownership Limit (FOL) or the reclassification ofcertain shareholders. Overall, the impact of these changes in the indices is minimal.
The results of the August 2003 Quarterly Index Review for the MSCI Standard Index Series, the MSCI
Global Value and Growth Index Series and the MSCI Pan-Euro and Euro Indices have also been posted on
MSCI's web site at www.msci.com.
For further information on MSCI indices or MSCI data, please visit our web site at www.msci.com orcontact:
Dorsey Horowitz, MSCI, New YorkStephen Dunning, MSCI, London
Jammy Chan, MSCI, Hong Kong
Olivia Vong, MSCI, Tokyo+ 1 212 762 5790
+ 44 20 7425 6660
+ 852 2848 6740
+ 813 5424 5470

Daniel Guthrie/Emma Leeds, Luther Pendragon, London
Ed Rowley/Steve Bruce, Abernathy MacGregor, New York+ 44 20 7618 9100
+ 1 212 371 5999______________________________________________________________________________________________________This information is the property of Morgan Stanley Capital International Inc. (MSCI). It is provided for informational
purposes only, and is not a recommendation to participate in any particular trading strategy. The information may not be
used to verify or correct data, or any compilation of data or index or in the creation of any indices. Nor may it be used inthe creating, writing, offering, trading, marketing or promotion of any financial instruments or products. This
information is provided on an “as is” basis. Although MSCI shall obtain information from sources which MSCIconsiders reliable, neither MSCI, its affiliates nor any other party involved in the making or compiling of the information
guarantees the accuracy and/or the completeness of any of this information. Neither MSCI, its affiliates nor any otherparty involved in the making or compiling of the information makes any representation or warranty, express or implied,
as to the results to be obtained by any person or entity from any use of this information, and the user of this information
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the making or compiling of the information makes any express or implied warranties, and MSCI, its affiliates and anyother party involved in the making or compiling of the information hereby expressly disclaim all warranties ofmerchantability or fitness for a particular purpose with respect to any of this information. Without limiting any of theforegoing, in no event shall MSCI, its affiliates or any other party involved in the making or compiling of the information______________________________________________________________________________________________________--1 of 2--

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MSCI Client Services can be reached on:
London+44 20 7425 6660
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And at a further thirteen locations around the world.

+1 212 762 5790
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TokyoHong Kong+813 5424 5470
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