Announcement for December 09, 2019 at 09:41 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

Following the completion of its Initial Public Offering (IPO), Saudi Aramco
announced on December 6, 2019 that its shares will start trading on the Saudi
Stock Exchange (Tadawul) on December 11, 2019.

MSCI intends to include Saudi Aramco in the MSCI Equity Indexes, subject to
meeting the early inclusion requirements, in one step as of the close of
December 17, 2019 (effective December 18, 2019). Based on the offering price and
size, Saudi Aramco is expected to meet the minimum market capitalization
requirement for early inclusion.

As the inclusion date of Saudi Aramco would fall close to international market
holidays were MSCI to follow its standard policy of inclusion of sizeable IPOs
as of the close of a security's tenth trading day, MSCI has decided to deviate
from that policy and provide for inclusion as of the close of December 17th. In
addition, if trading of Saudi Aramco is suspended on December 17, 2019 by 12 PM
local time due to breaching the 10% daily price limits set by the Tadawul, MSCI
would postpone the inclusion until after January 5, 2020.

Given its potentially significant market capitalization, MSCI may include Saudi
Aramco at a Foreign Inclusion Factor (FIF) and Domestic Inclusion Factor (DIF)
rounded to three decimal places, as an exception to the usual two-decimal
precision.

In the calculation of Saudi Aramco's FIF/ DIF, MSCI will consider the retail
investor allocation as non-free float until the expiration of the 180-day bonus
holding period. MSCI is currently assessing the institutional investor
allocation. MSCI will confirm Saudi Aramco's FIF/ DIF and its pro forma
inclusion weight no later than December 11, 2019.

For further information on MSCI indexes or MSCI data, please visit our web site
at www.msci.com, or contact:

MSCI Global Client Service:
Americas Client Service: 1.888.588.4567 (toll free)/+ 1.212.804.3901
EMEA Client Service: + 44.20.7618.2222
Asia Pacific Client Service: + 852.2844.9333

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.