MSCI PAN-EURO AND EURO INDICES MAY 2005 ANNUAL INDEX REVIEW
Geneva, May 12, 2005. MSCI, a leading provider of international equity, US equity, fixed income and hedge
fund indices, announced today changes to the MSCI Pan-Euro and Euro Indices that will be effective as ofthe close of May 31, 2005. These changes result from the May 2005 Annual Index Review. The full list of pro
forma constituents of the MSCI Pan-Euro and Euro Indices has been posted on MSCI’s web site at
http://www.msci.com/euro.
On a pro forma basis, the MSCI Pan-Euro Index will contain 287 securities with a free float-adjusted market
capitalization of € 4,348 billion, selected from 16 developed market European countries. The MSCI EuroIndex will contain 150 securities with a free float-adjusted market capitalization of € 2,091 billion on a pro
forma basis, selected from the EMU zone.
The results of the May 2005 Annual Index Review for the MSCI Standard Index Series and the MSCI China
A Index as well as the Semi-Annual Index Review for the MSCI Small Cap Index Series, the MSCI Global
Value and Growth Index Series, the MSCI US Equity Indices and the Morgan Stanley REIT Index have also
been posted on MSCI’s web site at www.msci.com.
The MSCI Pan-Euro and Euro Indices are subsets of the broader MSCI Europe and EMU Indices,
respectively, and aim to capture 90% of the market capitalization of the broader benchmarks. They are
specifically designed to include the largest and most liquid securities from the broader indices, as they aim toserve as the basis for derivative contracts, exchange traded funds and other index-based investment products.
The MSCI Pan-Euro and Euro Indices have been licensed for futures and options contracts and various
exchange traded funds (ETF).
Note: All pro forma information uses data as of April 20, 2005.

About MSCIMSCI (www.msci.com) is a leading provider of equity, fixed income and hedge fund indices, and related
products and services. MSCI estimates that over USD 3 trillion is benchmarked to its indices on a worldwide
basis. MSCI is headquartered in New York, with research and commercial offices around the world. In 2004,MSCI acquired Barra, Inc. (www.barra.com), a global leader in delivering risk analytics, performancemeasurement and attribution systems and services to managers of portfolio and firm-wide investment risk.
Morgan Stanley, a global financial services firm and a market leader in securities, asset management, andcredit services, is the majority shareholder of MSCI, and Capital International Inc., part of the global
investment management group of The Capital Group Companies, Inc., is the minority shareholder.

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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
Guillermo Benedit, MSCI, London
Sarah Chan, MSCI, Hong Kong
Olivia Vong, MSCI, Tokyo+ 1 212 762 5790
+ 44 20 7425 6660
+ 852 2848 6740
+ 813 5424 5470

PR:Ben Curson/Clare Rowsell, Penrose Financial, London
Ed Rowley/Patrick Linehan, Abernathy MacGregor, New York+ 44 20 7786 4888
+ 1 212 371 5999

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