| GEO Business|
| MSCI Pakistan Index reclassified as MSCI Frontier Markets Index|
| Updated at: 1425 PST, Tuesday, March 24, 2009|
GENEVA: MSCI Inc, a leading provider of investment decision support tools worldwide including indices and portfolio risk and performance analytics, announced today, following a consultation with the investment community, the reclassification of the MSCI Pakistan Index as MSCI Frontier Markets Index.
Some participants to the consultation have positively highlighted the return to normal trading conditions on the Karachi Stock Exchange and the resulting increased liquidity. However, a majority of market participants stressed the need for the Pakistani equity market to function without any trading disruptions for some time as a condition to any potential consideration of the MSCI Pakistan Index for re-inclusion in the MSCI
Emerging Markets Index.
In addition, the MSCI Pakistan Index no longer meets the size requirements set for the MSCI Emerging Markets Index. Consequently, the MSCI Pakistan Index will be included in the MSCI Frontier Markets Index as of the close of May 29, 2009 to coincide with the May 2009 Semi-Annual Index Review.