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MSCI GLOBAL VALUE AND GROWTH INDEX SERIES NOVEMBER 2006 SEMIANNUAL INDEX REVIEWGeneva, November 14, 2006. MSCI Barra, a leading provider of benchmark indices and risk management
analytics products, announced today changes to the MSCI Global Value and Growth Index Series that will beeffective as of the close of November 30, 2006. These changes result from the November 2006 Semi-Annual Index
Review of the MSCI Global Value and Growth Index Series.
For the MSCI ACWI Value Index, there will be 312 additions or upward changes in Value Inclusion Factors (VIFs),
and 296 deletions or downward changes in VIFs. For the MSCI ACWI Growth Index, there will be 298 additions orupward changes in Growth Inclusion Factors (GIFs), and 310 deletions or downward changes in GIFs. The VIFs
and the GIFs represent the proportion of a security’s free float-adjusted market capitalization that is allocated to thevalue and/or growth indices.
The largest additions or style changes from growth to value will be BP (United Kingdom), American Int’l Group(USA), Sanofi-Aventis (France), Sprint Nextel Series 1 (USA), and BBVA (Spain). The largest additions or stylechanges from value to growth will be Merrill Lynch & Co (USA), Canon Inc (Japan), Hewlett-Packard Co (USA),Suez (France) and BT Group (United Kingdom).
As a reminder, the style review of the MSCI Global Value and Growth Index Series is conducted twice a year,
coinciding with the May Annual Full Country Index Review and the November Quarterly Index Review of theunderlying MSCI Standard Country Indices. During the style review, new value and growth z-scores are calculatedfor the pro forma MSCI Standard Country Index constituents. After applying the buffer rules, securities are thenallocated to the value and growth indices, each targeting 50% of the free float-adjusted market capitalization withineach MSCI Standard Country Index.
The results of the November 2006 Quarterly Index Review for the MSCI Standard Index Series, the Semi-AnnualIndex Review for the MSCI Small Cap Index Series, the MSCI US Equity Indices, the MSCI US REIT Index, theMSCI Japan KOKUNAI Indices, the MSCI High Dividend Yield Indices, MSCI China A Value and Growth IndexSeries as well as the Quarterly Index Review for the MSCI Pan-Euro and Euro Indices and the MSCI China A Index
have also been posted on MSCI Barra’s web site at www.mscibarra.com.
###About MSCI Barra
MSCI Barra develops and maintains equity, fixed income, multi-asset class, REIT and hedge fund indices thatserve as benchmarks for an estimated USD 3 trillion on a worldwide basis. MSCI Barra’s risk models and analytics
products help the world’s largest investors analyze, measure and manage portfolio and firm-wide investment risk.
MSCI Barra is headquartered in New York, with research and commercial offices around the world. MorganStanley, a global financial services firm and a market leader in securities, asset management, and credit services,
is the majority shareholder of MSCI Barra, and Capital Group International, Inc. is the minority shareholder.
For further information on MSCI Barra, please visit our web site at www.mscibarra.com
For media enquiries please contact:
Ben Curson | Clare Rowsell, Penrose Financial, London
Ann Taylor Reed | Mary Beth Grover, Abernathy MacGregor, New York

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MSCI Barra Global Client Service:
Aatish Suchak, MSCI Barra, London
Cecile Distel, MSCI Barra, New York
Jackson Wang, MSCI Barra, San Francisco
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Masao Ikeda, MSCI Barra, Tokyo+ 44.20.7618.2222+ 1.212.762.5790+ 1.415.576.2323+ 852.2848.6740+ 61.2.9220.9333+ 813.5424.5470

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