MSCI Announces Sale of CFRA

Tue Mar 12, 2013 7:30am EDT

* Reuters is not responsible for the content in this press release.

NEW YORK--(Business Wire)--
MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools
worldwide, announced today that it has entered into a definitive agreement to
sell its CFRA business, a leading provider of forensic accounting research, to a
private investor for an undisclosed purchase price. The transaction is expected
to close within the next two months, subject to customary closing conditions. 

CFRA is included within MSCI`s Governance business segment for financial
reporting purposes. The transaction is not expected to have a material impact on
MSCI`s results of operations. 

Davis Polk & Wardwell LLP acted as legal advisers to MSCI. 

About MSCI

MSCI Inc. is a leading provider of investment decision support tools to
investors globally, including asset managers, banks, hedge funds and pension
funds. MSCI products and services include indices, portfolio risk and
performance analytics, and governance tools. 

The company`s flagship product offerings are: the MSCI indices with close to USD
7 trillion estimated to be benchmarked to them on a worldwide basis1; Barra
multi-asset class factor models, portfolio risk and performance analytics;
RiskMetrics multi-asset class market and credit risk analytics; IPD real estate
information, indices and analytics; MSCI ESG (environmental, social and
governance) Research screening, analysis and ratings; ISS governance research
and outsourced proxy voting and reporting services; and FEA valuation models and
risk management software for the energy and commodities markets. MSCI is
headquartered in New York, with research and commercial offices around the
world. MSCI#IR 

1As of March 31, 2012, as published by eVestment, Lipper and Bloomberg in
September, 2012.

For further information on MSCI, please visit

About CFRA 

Founded as the Center for Financial Research and Analysis ("CFRA") in 1994, CFRA
is a global independent research business that provides forensic accounting,
earnings quality, and legal research and solutions to institutional investors,
underwriters, and other financial institutions. CFRA is a recognized leader in
Forensic Accounting Research and develops unique exception-based research
products that help clients sift through the noise and assess the quality of
inputs into their models and processes. The business will continue to operate
under the "CFRA" brand. 

For more information please visit

This document and all of the information contained in it, including without
limitation all text, data, graphs, charts (collectively, the "Information") is
the property of MSCI Inc. or its subsidiaries (collectively, "MSCI"), or MSCI`s
licensors, direct or indirect suppliers or any third party involved in making or
compiling any Information (collectively, with MSCI, the "Information Providers")
and is provided for informational purposes only. The Information may not be
reproduced or redisseminated in whole or in part without prior written
permission from MSCI. 

The Information may not be used to create derivative works or to verify or
correct other data or information. For example (but without limitation), the
Information may not be used to create indices, databases, risk models,
analytics, software, or in connection with the issuing, offering, sponsoring,
managing or marketing of any securities, portfolios, financial products or other
investment vehicles utilizing or based on, linked to, tracking or otherwise
derived from the Information or any other MSCI data, information, products or

The user of the Information assumes the entire risk of any use it may make or
permit to be made of the Information. NONE OF THE INFORMATION PROVIDERS MAKES

Without limiting any of the foregoing and to the maximum extent permitted by
applicable law, in no event shall any Information Provider have any liability
regarding any of the Information for any direct, indirect, special, punitive,
consequential (including lost profits) or any other damages even if notified of
the possibility of such damages. The foregoing shall not exclude or limit any
liability that may not by applicable law be excluded or limited, including
without limitation (as applicable), any liability for death or personal injury
to the extent that such injury results from the negligence or wilful default of
itself, its servants, agents or sub-contractors. 

Information containing any historical information, data or analysis should not
be taken as an indication or guarantee of any future performance, analysis,
forecast or prediction. Past performance does not guarantee future results. 

None of the Information constitutes an offer to sell (or a solicitation of an
offer to buy), any security, financial product or other investment vehicle or
any trading strategy. You cannot invest in an index. 

MSCI`s indirect wholly-owned subsidiary Institutional Shareholder Services, Inc.
("ISS") is a Registered Investment Adviser under the Investment Advisers Act of
1940. Except with respect to any applicable products or services from ISS
(including applicable products or services from MSCI ESG Research Information,
which are provided by ISS), neither MSCI nor any of its products or services
recommends, endorses, approves or otherwise expresses any opinion regarding any
issuer, securities, financial products or instruments or trading strategies and
neither MSCI nor any of its products or services is intended to constitute
investment advice or a recommendation to make (or refrain from making) any kind
of investment decision and may not be relied on as such. 

The MSCI ESG Indices use ratings and other data, analysis and information from
MSCI ESG Research. MSCI ESG Research is produced by ISS or its subsidiaries.
Issuers mentioned or included in any MSCI ESG Research materials may be a client
of MSCI, ISS, or another MSCI subsidiary, or the parent of, or affiliated with,
a client of MSCI, ISS, or another MSCI subsidiary, including ISS Corporate
Services, Inc., which provides tools and services to issuers. MSCI ESG Research
materials, including materials utilized in any MSCI ESG Indices or other
products, have not been submitted to, nor received approval from, the United
States Securities and Exchange Commission or any other regulatory body. 

Any use of or access to products, services or information of MSCI requires a
license from MSCI. MSCI, Barra, RiskMetrics, ISS, CFRA, FEA, and other MSCI
brands and product names are the trademarks, service marks, or registered
trademarks of MSCI or its subsidiaries in the United States and other
jurisdictions. The Global Industry Classification Standard (GICS) was developed
by and is the exclusive property of MSCI and Standard & Poor`s. "Global Industry
Classification Standard (GICS)" is a service mark of MSCI and Standard & Poor`s.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements relate to
future events or to future financial performance and involve known and unknown
risks, uncertainties and other factors that may cause MSCI`s actual results,
levels of activity, performance, or achievements to be materially different from
any future results, levels of activity, performance, or achievements expressed
or implied by these forward-looking statements. In some cases, you can identify
forward-looking statements by the use of words such as "may," "could," "expect,"
"intend," "plan," "seek," "anticipate," "believe," "estimate," "predict,"
"potential," or "continue", or the negative of these terms or other comparable
terminology. You should not place undue reliance on forward-looking statements
because they involve known and unknown risks, uncertainties and other factors
that are, in some cases, beyond MSCI`s control and that could materially affect
actual results, levels of activity, performance, or achievements. Other factors
that could materially affect MSCI`s actual results, levels of activity,
performance or achievements can be found in MSCI's Annual Report on Form 10-K
for the fiscal year ended December 31, 2012 and filed with the Securities and
Exchange Commission (SEC) on March 1, 2013, and in MSCI`s quarterly reports on
Form 10-Q and current reports on Form 8-K filed with the SEC. If any of these
risks or uncertainties materialize, or if MSCI`s and underlying assumptions
prove to be incorrect, actual results may vary significantly from what we
projected. Any forward-looking statement in this release reflects MSCI`s current
views with respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to MSCI`s and otherwise. We assume no
obligation to publicly update or revise these forward looking statements for any
reason, whether as a result of new information, future events or otherwise.

New York
Edings Thibault, + 1-212-804-5273
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