MSCI Announces Real-Time European Indices

NEW YORK/GENEVA, July 7, 1999. Morgan Stanley Capital International Inc. (MSCI) announces the availability of real-time index values for the 15 European developed market MSCI country indices and two major MSCI European regional indices.

The country indices for which new real time calculations are now available include the following: MSCI Austria, MSCI Belgium, MSCI Denmark, MSCI Finland, MSCI France, MSCI Germany, MSCI Ireland, MSCI Italy, MSCI Netherlands, MSCI Norway, MSCI Portugal, MSCI Spain, MSCI Sweden, MSCI Switzerland, and MSCI UK. In addition, real time calculations are now available for the MSCI regional benchmark indices, MSCI Europe and MSCI EMU.

These real-time index values are updated in 60-second intervals throughout the trading day and can be obtained through the major quote vendors: Bloomberg and Reuters. The corresponding ticker symbols and RIC codes are listed below. The returns are calculated in Euro for the country indices belonging to the EMU zone and for the regional indices and in local currency in all other instances.

The real-time calculation of the European country indices marks the beginning of a series of country and regional indices from MSCI that will be calculated and disseminated daily on a real time basis. The European region was selected first in response to a growing interest among investment professionals and investors to have MSCI index data accessible on an intra-day basis and same-day basis.

Already available from MSCI are real-time values for the MSCI Euro, MSCI Pan-Euro, MSCI HONG KONG +, MSCI Singapore and MSCI Taiwan indices, all of which support exchange listed futures and options contracts. Because these indices are derivative related, they are updated every 15-seconds.

* derivatives listed on the LIFFE

** derivatives listed on the SIMEX

Morgan Stanley Capital International Inc. (MSCI) is a leading provider of global indices and benchmark related products and services to investors worldwide. Morgan Stanley Dean Witter & Co. (MSDW), a global financial services firm and market leader in securities, asset management and credit services, is the majority shareholder of MSCI, and The Capital Group Companies, Inc. (Capital), a global investment management group, is a minority shareholder. MSCI has full responsibility for and independence in the design, maintenance, production and distribution of the Indices.

In 1999 MSCI celebrates it 30^th anniversary as the leader in the benchmark industry. MSCI employees over 100 people located in London, Geneva, New York, San Francisco, Hong Kong, Tokyo and Singapore. MSCI equity indices number over 3,000 covering 51 countries across developed and emerging markets. MSCI recently introduced two new indices for derivative trading, the MSCI Euro and MSCI Pan-Euro indices. Both have futures and options contracts traded on the London International Financial Futures and Options Exchange (LIFFE).

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