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MSCI Indices 2012 Performance Results

  MSCI Indices 2012 Performance Results

         Global Equity Markets Rebound in 2012—Overcoming 2011 Losses

  *Global markets posted significant positive returns, largely in the double
    digits
  *Emerging Markets and the EMU showed strong relative performance
  *Small caps outpaced large and mid caps across most regions and countries

Business Wire

LONDON -- December 28, 2012

MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support
tools worldwide, today published the year-to-date (YTD) 2012 performance of
its MSCI Indices, revealing a vigorous rebound in global equity markets,
following the global slowdown experienced in 2011.

Major financial markets worldwide showed healthy double digit returns across
all size segments for 2012. The MSCI ACWI Investable Market Index (IMI),
comprised of close to 9,000 large, mid and small cap securities across 24
Developed and 21 Emerging Markets countries, for example, delivered a 2012 YTD
return of 13.45% versus a loss of -9.87% in 2011.

The MSCI ACWI Small Cap Index bested all other MSCI ACWI index capitalization
segments for 2012 YTD, with a return of 15.17% versus returns of 14.21% and
12.99% over the period for the MSCI ACWI Mid Cap and Large Cap Indices,
respectively.

MSCI ACWI IMI/Financials outperformed all other global sectors, returning
24.13% for 2012 YTD. Laggard sectors included the MSCI ACWI
IMI/Telecommunications Services and MSCI ACWI IMI/Utilities which returned
4.29% and -0.71% for the period.

Developed Markets

Nearly the entire range of country and regional MSCI Developed Markets (DM)
Indices delivered strong positive returns for 2012 YTD. The two main MSCI DM
flagship indices—the MSCI World Index and MSCI EAFE—returned 13.00% and
13.96%, respectively, while even higher returns prevailed in many European
countries and regions. The MSCI EMU and Europe Indices, for example, delivered
2012 YTD returns of 18.34% and 15.87%. The highest DM country performers were
all European: the MSCI Belgium Index was at the top, returning 37.58% for 2012
YTD, followed by the MSCI Denmark and Germany Indices, with returns of 30.32%
and 28.12%, respectively. The only three DM countries with negative returns
for 2012 YTD were the MSCI Spain, Greece and Israel Indices which produced
losses of -1.90%, -2.53% and -6.95%, respectively.

The MSCI DM Small Cap Indices outperformed their mid and large cap
counterparts across the majority of countries and regions for 2012 YTD. The
MSCI Europe Small Cap Index returned 25.76% (nearly 10% more than the MSCI
Europe Index), for example, while the MSCI World Small Cap Index produced a
return of 14.75% over the period.

Emerging Markets

The MSCI Emerging Markets (EM) Indices posted a slightly wider range of
positive results relative to the Developed Markets. The MSCI Emerging Markets
Index returned 14.52% for 2012 YTD, which was somewhat below average in
comparison to its constituent regions and countries. The top performing region
was the MSCI EM Eastern Europe ex Russia Index which provided a 25.62% return
for 2012 YTD,  followed by the MSCI EM Europe Index with a 20.46% return for
the period. The three stand-out performers among the Emerging Markets
countries were the MSCI Turkey, Egypt and Philippines Indices, with  2012 YTD
returns of 60.59%, 46.90% and 43.17%, respectively. The MSCI Czech Republic,
Brazil and Morocco Indices were the only Emerging Markets countries to deliver
negative 2012 YTD results, with returns of -3.49%, -4.37% and -16.15%.

Reinforcing the global small cap dominance trend, the MSCI EM Small Cap Index
outperformed its large- and mid-cap sibling (the MSCI EM Index), returning
18.56% for 2012 YTD.

Frontier Markets

The MSCI Frontier Markets Indices produced the most widely dispersed results
for 2012 YTD. The MSCI Frontier Markets Index returned 4.60% over the period.
The MSCI Frontier Markets Africa Index was the top-performing regional
Frontier Markets index, delivering a 2012 YTD return of 44.88%. The top three
single country Frontier Markets index performers for 2012 YTD included the
MSCI Kenya, Nigeria and Estonia Indices which posted returns of 54.16%,
52.82%, and 44.98%, respectively. More than half of the FM countries delivered
negative 2012 YTD returns. The bottom performers were the MSCI Bulgaria,
Argentina, and Ukraine Indices with 2012 YTD returns of -32.78%, -37.49% and
-49.33%, respectively.

Historical index levels for the full range of MSCI Indices are available at
www.msci.com.

^1 All year-to-date (YTD) 2012 index performance data is based on price index
levels in USD for the periods 1 January 2012 – 27December 2012.

MSCI Indices Performance Table—YTD 2012


                                       YTD 2012
Index                                 1 Jan 2012 – 27 Dec     2011     
                                       2012
MSCI All Country (AC) Indices                                               
MSCI ACWI IMI/Financials              24.13%                  -20.61%  
MSCI Zhong Hua Index^2                20.07%                  -19.72%  
MSCI AC Asia ex Japan Index           18.72%                  -19.16%  
MSCI AC Far East ex Japan Index       18.34%                  -16.78%  
MSCI AC Europe Index                  16.09%                  -14.45%  
MSCI ACWI Small Cap Index             15.17%                  -12.75%  
MSCI ACWI Mid Cap Index               14.21%                  -11.25%  
MSCI ACWI Investable Market Index     13.45%                  -9.87%   
(IMI)
MSCI ACWI Index                       13.19%                  -9.41%   
MSCI ACWI Large Cap Index             12.99%                  -9.05%   
MSCI ACWI IMI/Telecom Services        4.29%                   - 5.02%  
MSCI ACWI IMI/Utilities               -0.71%                  -6.79%   
MSCI Developed Markets (DM) Indices                                         
MSCI Belgium Index                    37.58%                  -12.55%  
MSCI Denmark Index                    30.32%                  -16.83%  
MSCI Germany Index                    28.12%                  -20.05%  

^2 The MSCI Zhong Hua Index captures large and mid cap representation across
China securities available to non-domestic investors and includes: China H
shares, B shares, Red chips and P chips, together with China securities listed
on the Hong Kong exchange.


MSCI Developed Markets (DM) Indices, cont.                              
MSCI Europe Small Cap            25.76%        -21.94%      
Index
MSCI Nordic Countries            19.27%        -19.80%      
Index
MSCI Pacific ex Japan            19.22%        -16.25%      
Index
MSCI Europe ex UK Index          18.61%        -17.63%      
MSCI EMU Index                   18.34%        -20.15%      
MSCI Europe Index                15.87%        -13.82%      
MSCI USA Small Cap Index         14.94%        -4.35%       
MSCI World Small Cap Index       14.75%        -10.49%      
MSCI EAFE Index                  13.96%        -14.82%      
MSCI World Index                 13.00%        -7.61%       
MSCI USA Index                   12.86%        -0.11%       
MSCI Spain Index                 -1.90%        -16.90%      
MSCI Greece Index                -2.53%        -63.59%      
MSCI Israel Index                -6.95%        -29.79%      
MSCI Emerging Markets (EM) Indices                                      
MSCI Turkey Index                60.59%        -36.78%      
MSCI Egypt Index                 46.90%        -48.78%      
MSCI Philippines Index           43.17%        -3.17%       
MSCI EM Eastern Europe ex        25.62%        -29.98%      
Russia Index
MSCI EM Europe & Middle          21.22%        -26.46%      
East IMI
MSCI EM Europe Index             20.46%        -25.33%      
MSCI Emerging Markets            18.56%        -28.78%      
Small Cap Index
MSCI Emerging Markets (EM)       14.52%        -20.41%      
Index
MSCI Brazil Index                -4.37%        -24.85%      
MSCI Czech Republic Index        -3.49%        -11.29%      
MSCI Morocco Index               -16.15%       -18.75%      
MSCI Frontier Markets (FM) Indices                                      
MSCI Kenya Index                 54.16%        -30.61%      
MSCI Nigeria Index               52.82%        -18.73%      
MSCI Estonia Index               44.98%        -28.79%      
MSCI FM Africa Index             44.88%        -19.76%      
MSCI Frontier Markets (FM)       4.60%         -22.14%      
Index
MSCI Bulgaria Index              -32.78%       -29.80%      
MSCI Argentina Index             -37.49%       -42.64%      
MSCI Ukraine Index               -49.33%       -45.81%      

About MSCI

MSCI Inc. is a leading provider of investment decision support tools to
investors globally, including asset managers, banks, hedge funds and pension
funds. MSCI products and services include indices, portfolio risk and
performance analytics, and governance tools.

The company’s flagship product offerings are: the MSCI indices with close to
USD 7 trillion estimated to be benchmarked to them on a worldwide basis^1;
Barra multi-asset class factor models, portfolio risk and performance
analytics; RiskMetrics multi-asset class market and credit risk analytics; IPD
real estate information, indices and analytics; MSCI ESG (environmental,
social and governance) Research screening, analysis and ratings; ISS
governance research and outsourced proxy voting and reporting services; FEA
valuation models and risk management software for the energy and commodities
markets; and CFRA forensic accounting risk research, legal/regulatory risk
assessment, and due‐diligence. MSCI is headquartered in New York, with
research and commercial offices around the world.

^1 As of March 31, 2012, as published by eVestment, Lipper and Bloomberg in
September, 2012.

For further information on MSCI, please visit our web site at www.msci.com

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The Information may not be used to create derivative works or to verify or
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Information containing any historical information, data or analysis should not
be taken as an indication or guarantee of any future performance, analysis,
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None of the Information constitutes an offer to sell (or a solicitation of an
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MSCI’s indirect wholly-owned subsidiary Institutional Shareholder Services,
Inc. (“ISS”) is a Registered Investment Adviser under the Investment Advisers
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The MSCI ESG Indices use ratings and other data, analysis and information from
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Issuers mentioned or included in any MSCI ESG Research materials may be a
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MSCI ESG Research materials, including materials utilized in any MSCI ESG
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Any use of or access to products, services or information of MSCI requires a
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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.

Contact:

Media Enquiries:
Jo Morgan, MSCI, London, + 44.20.7618.2224
Kristin Meza, MSCI, New York, + 1.212.804.5330
Sally Todd | Christian Pickel, MHP Communications, London, + 44.20.3128.8515
or
MSCI Global Client Service:
EMEA Client Service, + 44.20.7618.2222
Americas Client Service, 1.888.588.4567 (toll free)/+ 1.212.804.3901
Asia Pacific Client Service, + 852.2844.9333
 
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