MSCI SMALL CAP INDEX SERIES FEBRUARY 2005 QUARTERLY INDEX REVIEWGeneva, February 14, 2005. MSCI, a leading provider of international equity, US equity, fixed income andhedge fund indices, announced today changes to the MSCI Small Cap Index Series that will be effective as ofthe close of February 28, 2005. These changes result from the February 2005 Quarterly Index Review.
There will be no additions to or deletions from the MSCI Small Cap Index Series as a result of the February2005 Quarterly Index Review. The quarterly review of free float estimates results in changes in Foreign
Inclusion Factors (FIFs) for 19 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 ofshareholdings, changes in Foreign Ownership Limits (FOLs), changes in Limited Investability Factors (LIFs)
or the reclassification of certain shareholders. Overall, the impact of these changes in the indices is minimal.
The results of the February 2005 Quarterly Index Review for the MSCI Standard Index Series, the MSCI
Global Value and Growth Index Series, the MSCI US Equity Indices, the MSCI Pan-Euro and Euro Indicesas well as the Morgan Stanley REIT Index (RMS) have also been posted on MSCI’s web site atwww.msci.com.
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.
###For further information on MSCI indices or MSCI data, please visit our web site at www.msci.com orcontact:
Dorsey Horowitz, MSCI, New YorkGuillermo 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______________________________________________________________________________________________________--1 of 2--

PR:
Carla A. Schlemminger, MSCI, Berkeley, California
Ben Curson/Clare Rowsell, Penrose Financial, London
Ed Rowley/Patrick Linehan, Abernathy MacGregor, New York+ 1 510 649 4615
+ 44 20 7786 4888
+ 1 212 371 5999______________________________________________________________________________________________________The information contained in this document, including all text, data, graphs, charts and all other information(collectively, the “Information”) is the property of Morgan Stanley Capital International Inc. (MSCI) and is provided for
informational purposes only. Any use of MSCI indices, data or other information requires a license from MSCI. TheInformation may not be used to verify or correct other data, to create indices, or in connection with offering, sponsoring,
managing or marketing any securities, portfolios, financial instruments or products. None of the Information 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 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 use
it 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)
WITH RESPECT TO ANY OF THE INFORMATION. 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 any of the Information have any liability
regarding any of the Information for any direct, indirect, special, punitive, consequential or any other damages(including lost profits) even if notified of the possibility of such damages.
Morgan Stanley Capital International, MSCI®, ACWI, EAFE® and all other service marks referred to herein are theexclusive property of MSCI or its affiliates. All MSCI indices are the exclusive property of MSCI and may not be used inany way without the express written permission of MSCI.

______________________________________________________________________________________________________--2 of 2--