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MSCI August Quarterly Index Review Announcement Scheduled for August 13, 2018

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MSCI Inc. (NYSE:MSCI), a leading provider of research-based indexes and
analytics, will announce the results of the August 2018 Quarterly Index
Review for the MSCI Equity Indexes - including the MSCI Global Standard,
MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value
and Growth Indexes, the MSCI Frontier Markets and MSCI Frontier Markets
Small Cap Indexes, the MSCI Frontier Emerging Markets Index, the MSCI
Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI
Pan-Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US
REIT Index, the MSCI China A Onshore Indexes and the MSCI China All
Shares Indexes. All changes will be made as of the close of August 31,
2018.

MSCI will post the list of additions to and deletions from the indexes
for the August 2018 Quarterly Index Review on its web site, www.msci.com,
shortly after 11:00 p.m. Central European Summer Time (CEST) on August
13, 2018.

A summary of the announcement will be made available shortly thereafter
on Bloomberg page MSCN, and Reuters public page MSCIA.

Additionally, MSCI will make detailed rebalancing information available
to clients beginning immediately after the summary announcement appears
on Bloomberg and/or Reuters. Clients can access the subscriber section
of each index at: www.msci.com/index-review-subscribers

For the MSCI US Equity Indexes and the MSCI US REIT Index, a summary of
the announcement will be made available at www.msci.com.

About MSCI

For more than 40 years, MSCI's research-based indexes and analytics have
helped the world's leading investors build and manage better portfolios.
Clients rely on our offerings for deeper insights into the drivers of
performance and risk in their portfolios, broad asset class coverage and
innovative research.

Our line of products and services includes indexes, analytical models,
data, real estate benchmarks and ESG research.

MSCI serves 99 of the top 100 largest money managers, according to the
most recent P&I ranking.

For more information, visit us at www.msci.com.

This document and all of the information contained in it, including
without limitation all text, data, graphs, charts (collectively, the
"Information") is the property of MSCI Inc. or its subsidiaries
(collectively, "MSCI"), or MSCI's licensors, direct or indirect
suppliers or any third party involved in making or compiling any
Information (collectively, with MSCI, the "Information Providers") and
is provided for informational purposes only. The Information may not be
modified, reverse-engineered, reproduced or redisseminated in whole or
in part without prior written permission from MSCI.

The Information may not be used to create derivative works or to verify
or correct other data or information. For example (but without
limitation), the Information may not be used to create indexes,
databases, risk models, analytics, software, or in connection with the
issuing, offering, sponsoring, managing or marketing of any securities,
portfolios, financial products or other investment vehicles utilizing or
based on, linked to, tracking or otherwise derived from the Information
or any other MSCI data, information, products or services.

The user of the Information assumes the entire risk of any use it may
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Information containing any historical information, data or analysis
should not be taken as an indication or guarantee of any future
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The Information should not be relied on and is not a substitute for the
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of any person, entity or group of persons.

None of the Information constitutes an offer to sell (or a solicitation
of an offer to buy), any security, financial product or other investment
vehicle or any trading strategy.

It is not possible to invest directly in an index. Exposure to an asset
class or trading strategy or other category represented by an index is
only available through third party investable instruments (if any) based
on that index. MSCI does not issue, sponsor, endorse, market, offer,
review or otherwise express any opinion regarding any fund, ETF,
derivative or other security, investment, financial product or trading
strategy that is based on, linked to or seeks to provide an investment
return related to the performance of any MSCI index (collectively,
"Index Linked Investments"). MSCI makes no assurance that any Index
Linked Investments will accurately track index performance or provide
positive investment returns. MSCI Inc. is not an investment adviser or
fiduciary and MSCI makes no representation regarding the advisability of
investing in any Index Linked Investments.

Index returns do not represent the results of actual trading of
investible assets/securities. MSCI maintains and calculates indexes, but
does not manage actual assets. Index returns do not reflect payment of
any sales charges or fees an investor may pay to purchase the securities
underlying the index or Index Linked Investments. The imposition of
these fees and charges would cause the performance of an Index Linked
Investment to be different than the MSCI index performance.

The Information may contain back tested data. Back-tested performance is
not actual performance, but is hypothetical. There are frequently
material differences between back tested performance results and actual
results subsequently achieved by any investment strategy.

Constituents of MSCI equity indexes are listed companies, which are
included in or excluded from the indexes according to the application of
the relevant index methodologies. Accordingly, constituents in MSCI
equity indexes may include MSCI Inc., clients of MSCI or suppliers to
MSCI. Inclusion of a security within an MSCI index is not a
recommendation by MSCI to buy, sell, or hold such security, nor is it
considered to be investment advice.

Data and information produced by various affiliates of MSCI Inc.,
including MSCI ESG Research LLC and Barra LLC, may be used in
calculating certain MSCI indexes. More information can be found in the
relevant index methodologies on www.msci.com.

MSCI receives compensation in connection with licensing its indexes to
third parties. MSCI Inc.'s revenue includes fees based on assets in
Index Linked Investments. Information can be found in MSCI Inc.'s
company filings on the Investor Relations section of www.msci.com.

MSCI ESG Research LLC is a Registered Investment Adviser under the
Investment Advisers Act of 1940 and a subsidiary of MSCI Inc. Except
with respect to any applicable products or services from MSCI ESG
Research, neither MSCI nor any of its products or services recommends,
endorses, approves or otherwise expresses any opinion regarding any
issuer, securities, financial products or instruments or trading
strategies and MSCI's products or services are not intended to
constitute investment advice or a recommendation to make (or refrain
from making) any kind of investment decision and may not be relied on as
such. Issuers mentioned or included in any MSCI ESG Research materials
may include MSCI Inc., clients of MSCI or suppliers to MSCI, and may
also purchase research or other products or services from MSCI ESG
Research. MSCI ESG Research materials, including materials utilized in
any MSCI ESG Indexes or other products, have not been submitted to, nor
received approval from, the United States Securities and Exchange
Commission or any other regulatory body.

Any use of or access to products, services or information of MSCI
requires a license from MSCI. MSCI, Barra, RiskMetrics, IPD,
InvestorForce, and other MSCI brands and product names are the
trademarks, service marks, or registered trademarks of MSCI or its
subsidiaries in the United States and other jurisdictions. The Global
Industry Classification Standard (GICS) was developed by and is the
exclusive property of MSCI and Standard & Poor's. "Global Industry
Classification Standard (GICS)" is a service mark of MSCI and Standard &
Poor's.

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