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China’s National Council for Social Security Fund Selects MSCI Index as Benchmark

MSCI World ex US Index Chosen for Global Equity (ex US) Investments

Shanghai - June 13, 2006 - MSCI Barra, a leading provider of benchmark indices and risk management analytics products, is pleased to announce that the National Council for Social Security Fund (SSF) in China has selected the MSCI World ex US Index as the benchmark for its global equity (ex US) investments. The SSF is responsible for the management and operation of the National Social Security Fund, a strategic reserve fund accumulated by the central government to support future social security expenditures in China, with assets of over RMB 200 billion.

“This benchmark win is an important milestone for us as we continue to expand our business in China, and further reinforces MSCI Barra’s position as the leading provider of international equity benchmarks in the region,” said Henry Fernandez, President and CEO of MSCI Barra. “As investment opportunities for Chinese investors expand beyond the domestic market, MSCI Barra is well placed to offer a wide-range of indices to respond to their international benchmark needs. At the same time we have also seen the increasing adoption of our domestic index, the MSCI China A Index, by both QFII-accredited international investors and investment institutions in mainland China who want a broader and more representative benchmark for their investments in the China A share market.”

The MSCI World ex US Index is a free-float market capitalization weighted index, which contained 1220 securities with a market capitalization of USD 11,973 billion as of May 31, 2006.