MSCI Global Small Cap Indices August 2007 Quarterly Index Review.GENEVA -- MSCI Barra MSCI Barra is a leading provider of equity, fixed income, and hedge fund indices. In 2004 Morgan Stanley Capital International acquired Barra, Inc., to form MSCI Barra. The company is headquartered in New York City, with operations in Geneva, London, Mumbai, Hong Kong, Paris, , a leading global provider of benchmark indices and risk management analytics products, announced today changes to the MSCI Global Small Cap Indices that will be made as of the close of August 31, 2007. These changes result from the August 2007 Quarterly Index Review. Four securities will be added to the MSCI Global Small Cap Indices and no securities will be deleted. These changes are driven by the migrations between the MSCI Provisional Global Standard and MSCI Provisional Global Small Cap Indices following the August 2007 Quarterly Index Review conducted under the principles of the Global Investable Market Indices methodology. The quarterly review of free float Free float An exchange rate system characterized by the absence of government intervention. Also known as clean float. estimates results in changes in Foreign Inclusion Factors (FIFs) for 23 securities in the MSCI Global Small Cap Indices. FIFs adjust the market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of securities for free float available to foreign investors. These changes reflect the evolution of shareholdings, changes in Foreign Ownership Limits (FOLs), changes in Limited Investability Factors (LIFs) or the reclassification Reclassification The process of changing the class of mutual funds once certain requirements have been met. These requirements are generally placed on load mutual funds. Reclassification is not considered to be a taxable event. of certain shareholders. The results of the August 2007 Quarterly Index Review for the MSCI Global Standard Indices, the MSCI Global Value and Growth Indices, the MSCI High Dividend Yield Indices, the MSCI Pan-Euro and Euro Indices, the MSCI US Equity Indices, the MSCI US REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). Index, the MSCI Japan KOKUNAI Indices, the MSCI Global Islamic Indices, the MSCI China A Index, the MSCI China A Value and Growth Indices, as well as for the MSCI Global Investable Market Indices have also been posted on MSCI Barra's web site at www.mscibarra.com. About MSCI Barra MSCI Barra develops and maintains equity, hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" and REIT indices that serve as benchmarks for an estimated USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3 trillion on a worldwide basis. MSCI Barra's risk models and analytics products help the world's largest investors analyze, measure and manage portfolio and firm-wide investment risk. MSCI Barra is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , with research and commercial offices around the world. Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. , a global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.Please [ improve this article] or discuss the issue on the talk page. firm, is the majority shareholder of MSCI Barra, and Capital Group International, Inc. is the minority shareholder. 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