MSCI ANNOUNCEMENTS SCHEDULED FOR MAY 11, 2004
Geneva, May 05, 2004. On May 11, 2004, MSCI will announce the results of the May 2004 Annual FullCountry Index Review for the MSCI Standard Index Series, the Semi-Annual Index Review for the MSCI
Small Cap Index Series, the Semi-Annual Index Review for the MSCI Global Value and Growth Index Series
as well as the Semi-Annual Index Review for the MSCI US Equity Indices. MSCI will also announce theresults of the Annual Index Review for the MSCI Pan-Euro and Euro Indices and for the MSCI GDP IndexSeries.
All changes will be effective as of the close of May 28, 2004.
As a reminder, MSCI will exceptionally implement the changes resulting from the May 2004 Index Reviews asof the close of May 28, 2004, instead of May 31, 2004 due to market holidays.
MSCI will post the list of additions to and deletions from the indices on its website, www.msci.com, at 10:15
p.m. Central European Time (CET).
A summary of the announcement will be made available shortly thereafter on Bloomberg page MSCN, andReuters public pages MSCIA and following.
For further information on MSCI indices or MSCI data, please visit our web site at www.msci.com orcontact:
Amy Davidson, MSCI, New York
Sara Corsaro, 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/Kayt Makosy, 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 in
the 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 MSCI
considers 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
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 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 the______________________________________________________________________________________________________--1 of 2--

foregoing, 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 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 written permission of MSCI.
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.

______________________________________________________________________________________________________--2 of 2--