MSCI Small Cap Index Series Nov 2003 Semi-Annual Index Review.Business Editors GENEVA--(BUSINESS WIRE)--Nov. 13, 2003 MSCI announced today changes to the MSCI Small Cap Index Series that will be effective as of the close of November 28, 2003. These changes result from the November 2003 Semi-Annual Index Review. The full list of additions to and deletions from the MSCI Small Cap Index Series, as well as a press release that includes a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma analysis of changes for some of the more frequently used regional indices, has been posted on MSCI's web site at www.msci.com/smallcap. Effective as of the close of November 28, 2003, 115 securities will be added to the MSCI Small Cap Index Series and 91 securities will be deleted. In addition, MSCI's 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 (FIF (Fractal Image Format) A graphics file format from content management company Interwoven, Inc. San Jose, CA (www.interwoven.com) that stores fractal images with compression ratios as high as 2,500:1. FIF was originally from MediaBin, Inc. ) for 29 securities. 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. The MSCI Small Cap Index Series attempts to represent the market performance of small capitalization companies across developed markets. Companies with a full market capitalization between 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. 200 and 1,500 million are eligible for inclusion. MSCI then selects the most liquid securities relative to their market capitalization, and targets for index inclusion 40% of the full universe within each industry group, within each country. Finally, the market capitalization of index constituents is free float-adjusted. Below is a brief pro forma analysis of the changes that will occur in the MSCI Small Cap Index Series for some of the more frequently used global and regional composite indices, using data as of October 24, 2003. World Index - The MSCI World The MSCI World is a stock market index of 'world' stocks. It is maintained by Morgan Stanley Capital International. The index includes a selection of stocks of all the developed markets in the world, as defined by MSCI. Small Cap Index(SM) represents the small cap segment in 23 of the world's developed equity markets. On a pro forma basis, the market capitalization of the index will be USD 1,094 billion, and the index will include 1,730 securities. EAFE EAFE Europe, Australia, and the Far East (markets) EAFE European Association of Fisheries Economists EAFE European Association of Forensic Entomologists EAFE Edge-Average Finite Element EAFE Extended Arm Fume Extractor (Europe, Australasia, Far East) Index - The MSCI EAFE The MSCI EAFE (NYSE: EFA) is a stock market index of foreign stocks, from the perspective of a North American investor. The index is market capitalization weighted (meaning that the weight of securities is determined based on their respective market capitalizations. (R) Small Cap Index represents the small cap segment in 21 developed equity markets outside of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . On a pro forma basis, the market capitalization of the index will be USD 522 billion, and the index will include 962 securities. Europe Index - The MSCI Europe Small Cap Index(SM) represents the small cap segment in 16 developed equity markets in Europe. On a pro forma basis, the market capitalization of the index will be USD 278 billion, and the index will include 475 securities. The results of the November 2003 Quarterly Index Review for the MSCI Standard Index Series and the MSCI MSCI Pan-Euro and Euro Indices as well as the Semi-Annual Index Review for the MSCI Global Value and Growth Index Series and the MSCI US Equity Indices have also been posted on MSCI's web site at www.msci.com. For further information on MSCI indices or MSCI data, please visit our web site at www.msci.com. NOTICE AND DISCLAIMER This information is the property of Morgan Stanley Capital International Morgan Stanley Capital International (MSCI) This firm publishes a number of well known benchmarks, such as the MSCI World Index. Inc. (MSCI). The information may not be used to verify or correct data, or any compilation of data or index or in the creation of any indices. Nor may it be used in the creating, offering, trading or promotion of any financial instruments or products. This information is provided on an "as is" basis, and the user of this information assumes the entire risk of any use made of this information. It is not a recommendation to participate in any particular trading strategy In finance, a trading strategy (see also trading system) is a predefined set of rules to apply. Usually, this refers to a means used to replicate an option in order to give it an arbitrage free value in the sense that the cost of buying some financial assets to give the same . Neither MSCI, its affiliates nor any other party involved in the making or compiling of the information (the "MSCI Parties") guarantees the accuracy and/or the completeness of any of this information. None of the MSCI Parties makes any express or implied representations or warranties, and each MSCI Party hereby expressly disclaims all warranties of merchantability mer·chant·a·ble adj. Suitable for buying and selling; marketable. mer  chant·a·bil or fitness for a particular purpose with respect to any of this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any damages of any kind even if notified of the possibility of such damages. Morgan Stanley Capital International, MSCI and all other service marks referred to herein are the exclusive property of MSCI and its affiliates. All MSCI indices are the exclusive property of MSCI and may not be used in any way without the express written permission of MSCI. Morgan Stanley, a global financial services firm and a market leader in securities, asset management, and credit services, is the majority shareholder of MSCI, and The Capital Group Companies, Inc., a global investment management group, is the minority shareholder. |
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