MSCI EQUITY INDEX REBALANCING FOR GREECE, EGYPT AND MOROCCOGeneva, April 10, 2001. MSCI announced today its scheduled May 2001 index rebalancing for the Standard
MSCI Greece, Egypt and Morocco Indices.
As previously announced, these indices are being rebalanced, effective as of the close of May 31, 2001, inaccordance with MSCI’s enhanced methodology for free float-adjustment and increased coverage. The newly
rebalanced Standard MSCI Greece Index will simultaneously enter the Standard MSCI Developed MarketIndex Series and the newly rebalanced Standard MSCI Egypt and Morocco Indices will be added to theStandard MSCI EMF (Emerging Markets Free) Index Series and the Standard MSCI All Country Free Series.
In addition, the Standard MSCI Sri Lanka Index will be removed from the aggregate indices and reclassified
as a stand-alone index.
On a pro forma basis, the reclassification of the MSCI Greece Index to the Standard MSCI Developed
Market Index Series will result in a net market capitalization increase of 0.5% and 0.4% in the MSCI Europe
Index and the MSCI EAFE Index, respectively. The MSCI EMF Index will see a net decrease of 4.7% inmarket capitalization, as the MSCI Greece and Sri Lanka Indices exit and the MSCI Egypt and Morocco
Indices join this aggregate emerging market index.
The following is a brief description of some of the more important changes by country index.
•Greece – In order to increase the representation of the Banks and Telecommunication Services industry
groups respectively, Bank of Piraeus will be added at 70% of its market capitalization, while Panafon
Hellenic Telecom will be added at 35% of its market capitalization reflecting the free float available toforeign investors for these securities.
All of the securities in the MSCI Greece Index will be adjusted for the free float available to foreign
investors. This will reduce the market capitalization of all index constituents. Twenty-three securities will
be deleted from the index due to small size or low liquidity. Some of these deletions are related to thereclassification of Greece as a Developed European Market, where constituent size is typically higher thanin Emerging Markets.

•Egypt and Morocco – In the MSCI Egypt Index, one security will be added and two deleted, while four
securities will be added to the MSCI Morocco Index. In addition, all securities in these indices will be
adjusted for the free float available to foreign investors.

See the attached for further details.
Please see the separate announcements entitled “Reclassification of MSCI Greece: No Change to Pan-Euroand Euro” and “MSCI Greece, Egypt and Morocco Value & Growth Indices”, both dated April 10, 2001 on
our web site at www.msci.com for additional information.
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An additional announcement relating to the May 2001 quarterly index rebalancing for other indices will bemade at a later date.
Note: All pro forma information uses data as of April 3, 2001.
Unless otherwise stated all comments relate only to MSCI’s Standard Indices.
For further information on MSCI indices or MSCI data, please visit our web site at www.msci.com orcontact:
Evert-Jan ten Brundel, MSCI, London+ 44 20 7425 6660

Dorsey Horowitz, MSCI, New York+ 1 212 762 5790

Bonnie Chan, Hong Kong+ 852 2848 6740

Taiki Kimura, Tokyo+ 813 5424 5470

Daniel Guthrie/Emma Leeds, Luther Pendragon+ 44 20 7618 9100

Mary Beth Kissane, Abernathy MacGregor+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 in
the writing, 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 MSCI considers reliable, neither MSCI, itsaffiliates nor any other party involved in the making or compiling of the information guarantees the accuracy and/or thecompleteness of any of this information. Neither MSCI, its affiliates nor any other party involved in the making orcompiling of the information makes any representation or warranty, express or implied, as to the results to be obtainedby any person or entity from any use of this information, and the user of this information assumes the entire risk of any
use made of this information. Neither MSCI, its affiliates nor any other party involved in the making or compiling of theinformation makes any express or implied warranties, and MSCI hereby expressly disclaims 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
have any liability 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, EMF and all other service marks referred to herein are theexclusive property of MSCI and its affiliates. All MSCI indices are the exclusive property of MSCI and may not be usedin any way without the express permission of MSCI.
MSCI is a leading provider of global indices and benchmark related products and services to investors worldwide.
Morgan Stanley Dean Witter & Co., 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.
MSCI Client Services can be reached on:
London+44 207 425 6660
New YorkFrankfurt+49 69 2166 5325
San Francisco
And at a further twelve locations around the world.

+1 212 762 5790+1 415 576 2323

TokyoHong Kong+813 5424 5470+852 2848 6740

SUMMARY OF THE CHANGES INCLUDED IN THIS ANNOUNCEMENT______________________________________________________________________________________________________--2 of 5--

MSCI Greece Index (Full Rebalanced Index)
Security Name
ALPHA BANKALUMINIUM OF GREECEATHENS WATER SUPPLY AND SEWAGE COMPANY (EYDAP)
ATTICA ENTERPRISESBANK OF PIRAEUS
COCA-COLA HBCCOMMERCIAL BANK OF GREECEEFG EUROBANK ERGASIASFOLLI-FOLLIEFOURLIS COMMONHELLENIC DUTY FREE SHOPSHELLENIC PETROLEUMHELLENIC TECHNODOMIKIHELLENIC TELECOMMUNICATIONS ORGANIZATION (OTE)
INTERAMERICAN HELLENIC INSURANCEINTRACOMLAMBRAKIS PRESS
M.J. MAILLISNATIONAL BANK OF GREECEPANAFON HELLENIC TELECOM
PAPASTRATOS CIGARETTETECHNICAL OLYMPICTITAN CEMENT COMMON
VIOHALCONew Market Cap Factor
0.75
0.40
0.30
0.55
0.70
0.40
0.80
0.45
0.45
0.80
0.45
0.35
0.60
0.50
0.25
0.50
0.35
0.45
0.80
0.35
0.65
0.60
0.75
0.45

MSCI Greece Index (Deletions from current index)
Security Name
AEGEK
ALTE
ASPIS PRONIAATHENS MEDICAL CENTERATTIKATDELTA HOLDINGS COMMON
DELTA HOLDINGS PREFERREDDELTA INFORMATICSGOODY'SHELLENIC SUGAR INDUSTRYHYATT REGENCY HOTELINFORM P. LYKOSKLONATEX COMMONKLONATEX PREFERREDMICHANIKI
MINOAN LINES
MYTILINEOSPETZETAKISSANYO HELLASSELECTED TEXTILESILVER & BARYTE ORES MININGSINGULARTHEMELIODOMIMSCI Morocco Index (Full Rebalanced Index)

Security Name

New Market Cap Factor______________________________________________________________________________________________________--3 of 5--

BANQUE COMMERCIALE DU MAROCBMCEBRASSERIES DU MAROCCIMENTS DU MAROCCIOR CIMENTS ORIENTALMANAGEMONA OMNIUM NORD AFRICAINSAMIRSOCIETE METALLURGIQUE D'IMITERSOCIETE NATIONALE D’INVESTISSMENTSONASIDWAFABANK

0.200.400.200.200.400.250.30
0.350.350.200.400.40

MSCI Egypt Index (Full Rebalanced Index)

Security Name
AL AHRAM BEVERAGES CO
AL WATANY BANK OF EGYPTCOMMERCIAL INTERNATIONAL BANKEASTERN TOBACCOEGYPTIAN INTERNATIONAL PHARMACEUTICALEGYPTIAN MEDIA PRODUCTIONHELWAN CEMENTMADINET NASR FOR HOUSINGMISR INTERNATIONAL BANKMOBINIL
ORASCOM CONSTRUCTION INDUSTRIESORASCOM TELECOM
PAINTS & CHEMICAL INDUSTRIESSUEZ CEMENTNew Market Cap Factor
0.85
0.85
0.70
0.25
0.60
0.20
0.45
0.60
0.45
0.35
0.30
0.40
0.40
0.45

MSCI Egypt Index (Deletions from current index)

Security Name
EGYPTIAN FINANCIAL & INDUSTRIAL
MIDDLE & WEST DELTA MILLS_______________________________________________________________________________________________
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 beused to verify or correct data, or any compilation of data or index or in the creation of any indices. Nor may it be used in
the writing, 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 MSCI considers reliable, neither MSCI, itsaffiliates nor any other party involved in the making or compiling of the information guarantees the accuracy and/or thecompleteness of any of this information. Neither MSCI, its affiliates nor any other party involved in the making orcompiling of the information makes any representation or warranty, express or implied, as to the results to be obtainedby any person or entity from any use of this information, and the user of this information assumes the entire risk of any
use made of this information. Neither MSCI, its affiliates nor any other party involved in the making or compiling of theinformation makes any express or implied warranties, and MSCI hereby expressly disclaims 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
have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits)even if notified of the possibility of such damages.

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Morgan Stanley Capital International, MSCI Greece Index, MSCI Morocco Index and MSCI Egypt Index and all otherservice marks referred to herein are the exclusive property of MSCI and its affiliates. All MSCI indices are the exclusive
property of MSCI and may not be used in any way without the express permission of MSCI.

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