MSCI PAN-EURO AND EURO INDICES NOVEMBER 2004 QUARTERLY INDEXREVIEWGeneva, November 16, 2004. MSCI announced today changes to the MSCI Pan-Euro and Euro Indicesthat will be effective as of the close of November 30, 2004. These changes result from the November 2004
Quarterly Index Review of the MSCI Standard Index Series. A comparison of the current constituents of theMSCI Pan-Euro and Euro indices with the pro forma constituents is available on MSCI’s web site at
http://www.msci.com/euro.
Effective as of the close of November 30, 2004, one security, Anglo American (United Kingdom), will beadded to the MSCI Pan-Euro Index and there will be no deletions. As announced on May 11, 2004, Anglo
American will be re-classified from South Africa to the United Kingdom and added to the MSCI United
Kingdom Index as of the close of November 30, 2004.
There will be changes for certain constituents resulting from the quarterly review of free float estimates andthe quarterly review of number of shares.
The results of the November 2004 Quarterly Index Review for the MSCI Standard Index Series as well as theSemi-Annual Index Review for the MSCI US Equity Indices, the MSCI Small Cap Index Series and the MSCI
Global Value and Growth Index Series 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.
Amy Davidson, MSCI, New York
Guillermo Benedit, 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/Beany McLean, Luther Pendragon, London
Ed Rowley/Patrick Linehan, Abernathy MacGregor, New York+ 44 20 7618 9100
+ 1 212 371 5999______________________________________________________________________________________________________
This information is the property of Morgan Stanley Capital International Inc. (MSCI) and is provided for informational
purposes only. The information may not be used to verify or correct other data, to create indices, or in connection withoffering, sponsoring, managing or marketing any securities, portfolios, financial instruments or products. None of theinformation constitutes 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 anyissuer, securities, financial instruments or products or trading strategies that may be described or mentioned herein.
Further, none of the information contained herein is intended to constitute investment advice or a recommendation tomake (or refrain from making) any kind of investment decision and may not be relied on as such. The user of thisinformation assumes the entire risk of any use it may make or permit to be made of the information provided herein.
NEITHER MSCI, ANY OF ITS AFFILIATES OR ANY OTHER THIRD PARTY INVOLVED IN MAKING OR______________________________________________________________________________________________________--1 of 2--COMPILING THIS INFORMATION MAKES ANY EXPRESS OR IMPLIED WARRANTIES ORREPRESENTATIONS WITH RESPECT TO THIS INFORMATION (OR THE RESULTS TO BE OBTAINED BYTHE USE THEREOF), AND MSCI, ITS AFFILIATES AND EACH SUCH OTHER THIRD PARTY HEREBYEXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY IMPLIEDWARRANTIES OF ORIGINALITY, ACCURACY, TIMELINESS, NON-INFRINGEMENT, COMPLETENESS,MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) WITH RESPECT TO ANY OF THISINFORMATION. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any other third
party involved in making or compiling this information have any liability regarding this information for any direct,
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MSCI is a leading provider of global indices and benchmark related products and services to investors worldwide.
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 The Capital Group Companies, Inc., a global investment management group,is the minority shareholder. In June 2004, Morgan Stanley acquired Barra, a global leader in risk management
technology for investment professionals. Barra's operations will be combined with MSCI to form MSCI Barra.

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