Msc|∵ PRESS RELEASE The MSCi Peru Index will remain in the MSCI Emerging Markets Index. However, MSCI highlighted that it will proceed with the reclassification of peru to Frontier Markets status in the event that the msci Peru Index falls short of the minimum requirement for Emerging Markets that the index contains at least three constituents. As a reminder, the msci peru index currently includes the minimum of three constituents MSCi also announced today that it will include the MSCl argentina Index in its 2017 Annual Market Classification Review for a potential reclassification to Emerging Markets status The MSCi Korea Index, however, will not be included on the list for a potential reclassification to Developed Markets status as part of the 2017 Review because the recent changes announced by the Financial services Commission in South Korea will not take effect until 2017 and the investment frictions elated to the lack of convertibility of the Korean won and restrictions imposed by the local stock exchange on the use of exchange data for the creation of financial products remain unaddressed MSCi further announced that the msci Nigeria Index may be removed from the MSCi Frontier Markets Index and reclassified as a stand-alone market due to capital mobility issues. MSCI said it will consult with international institutional investors over the coming three months on a reclassification proposal that could be implemented with the november 2016 Semi-Annual Index review MSCi said that it welcomes the recent market accessibility enhancements announced by the saudi Arabian Capital Market authority and the saudi Stock Exchange(tadawul)and will continue to monitor the positive evolution in the opening of the saudi arabian equity market for international institutional investors. The announced changes including changes to the settlement cycle of listed securities, elimination of the cash prefunding requirement and the introduction of proper delivery versus payment as well as changes to the rules for Qualified Foreign Investors -are planned to be implemented by mid-2017 Once in effect these enhancements will bring the saudi equity market closer to Emerging Market accessibility standards Finally, MSCi released the 2016 Global Market accessibility review for the 82 markets under its Coverage.Page | 2 PRESS RELEASE The MSCI Peru Index will remain in the MSCI Emerging Markets Index. However, MSCI highlighted that it will proceed with the reclassification of Peru to Frontier Markets status in the event that the MSCI Peru Index falls short of the minimum requirement for Emerging Markets that the index contains at least three constituents. As a reminder, the MSCI Peru Index currently includes the minimum of three constituents. MSCI also announced today that it will include the MSCI Argentina Index in its 2017 Annual Market Classification Review for a potential reclassification to Emerging Markets status. The MSCI Korea Index, however, will not be included on the list for a potential reclassification to Developed Markets status as part of the 2017 Review because the recent changes announced by the Financial Services Commission in South Korea will not take effect until 2017 and the investment frictions related to the lack of convertibility of the Korean Won and restrictions imposed by the local stock exchange on the use of exchange data for the creation of financial products remain unaddressed. MSCI further announced that the MSCI Nigeria Index may be removed from the MSCI Frontier Markets Index and reclassified as a stand-alone market due to capital mobility issues. MSCI said it will consult with international institutional investors over the coming three months on a reclassification proposal that could be implemented with the November 2016 Semi-Annual Index Review. MSCI said that it welcomes the recent market accessibility enhancements announced by the Saudi Arabian Capital Market Authority and the Saudi Stock Exchange (Tadawul) and will continue to monitor the positive evolution in the opening of the Saudi Arabian equity market for international institutional investors. The announced changes, including changes to the settlement cycle of listed securities, elimination of the cash prefunding requirement and the introduction of proper delivery versus payment – as well as changes to the rules for Qualified Foreign Investors – are planned to be implemented by mid-2017. Once in effect, these enhancements will bring the Saudi equity market closer to Emerging Market accessibility standards. Finally, MSCI released the 2016 Global Market Accessibility Review for the 82 markets under its coverage