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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 1, 2013


MSCI Inc.
(Exact name of registrant as specified in its charter)

(212) 804-3900
(Registrant’s telephone number, including area code)

NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 2.02 Results of Operations and Financial Condition.

On August 1, 2013, MSCI Inc. (the “Registrant”) released financial information with respect to its second quarter ended June 30, 2013.  A copy of the press release containing this information is furnished as Exhibit 99.1 and the related investor presentation, which will be presented by the Registrant’s management during its conference call on Thursday, August 1, 2013 at 11:00 a.m. Eastern Time, is furnished as Exhibit 99.2 to this Current Report on Form 8-K (the “Report”).

The Registrant’s press release and the related investor presentation contain certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures are also contained in Exhibits 99.1 and 99.2.

The information furnished under Item 2.02 of this Report, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

SIGNATURE

Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit Index

Exhibit 99.1

MSCI Inc. Reports Second Quarter 2013 Financial Results and Announces Additional $100 Million Accelerated Share Repurchase

NEW YORK--(BUSINESS WIRE)--August 1, 2013--MSCI Inc. (NYSE: MSCI), a leading global provider of investment decision support tools, including indices, portfolio risk and performance analytics and corporate governance services, today announced results for the second quarter and six months ended June 30, 2013.

(Note: Percentage changes are referenced to the comparable period in 2012, unless otherwise noted.)

• Operating revenues increased 8.1% to $257.9 million in second quarter 2013 and 9.0% to $509.8 million for six months 2013.
• Net income increased 62.6% to $61.1 million in second quarter 2013 and net income grew 47.2% to $120.0 million for six months 2013.
• Diluted EPS for second quarter 2013 rose 66.7% to $0.50 and six months 2013 Diluted EPS increased 48.5% to $0.98.
• Adjusted EBITDA¹ grew by 8.0% to $116.6 million in second quarter 2013. For six months 2013, Adjusted EBITDA¹ grew by 8.0% to $226.7 million. Second quarter 2013 Adjusted EBITDA margin was flat at 45.2% and six months 2013 Adjusted EBITDA margin fell slightly to 44.5% from 44.9%.
• Second quarter 2013 Adjusted EPS² rose 16.0% to $0.58. Six months 2013 Adjusted EPS² rose 21.3% to $1.14.
• MSCI’s Run Rate grew by 7.9% to $992.6 million in second quarter 2013, driven by organic³ subscription growth of 3.7%, organic asset-based fee growth of 2.1% and the acquisitions of IPD and InvestorForce.
• MSCI announced that it will enter into a $100.0 million accelerated share repurchase (“ASR”) agreement as of the market-close today. The prior agreement, which was announced in December 2012 and concluded in July 2013, resulted in the repurchase of 3.0 million shares.

“MSCI’s revenues and run rate continued to grow in the second quarter of 2013, aided by the acquisitions of IPD and InvestorForce, continued strength in our retention rates and a modest increase in new sales. We are working hard to bring the full value of MSCI’s unique products and services to our clients and I am excited by the opportunities we see to add value to our clients’ investment processes. We will continue to make investments in our business over the second half of 2013 and beyond in order to realize that potential,” Henry A. Fernandez, Chairman and CEO, said.

“The new $100 million ASR agreement that we are announcing today confirms our commitment to return capital to our shareholders. MSCI’s strong cash flow has enabled us to return capital and make strategic acquisitions like IPD and InvestorForce while continuing to invest in our organic growth,” added Mr. Fernandez.

Summary of Results for Second Quarter 2013 Compared to Second Quarter 2012

Operating Revenues – See Table 4

Operating revenues for the three months ended June 30, 2013 (“second quarter 2013”) increased $19.3 million, or 8.1%, to $257.9 million compared to $238.6 million for the three months ended June 30, 2012 (“second quarter 2012”). For the purposes of analyzing revenue trends, organic growth comparisons exclude the impact of the acquisitions of IPD Group Limited (“IPD”) and Investor Force Holdings, Inc. (“InvestorForce”), acquired on November 30, 2012 and January 29, 2013, respectively, as well as the sale of the CFRA product line on March 31, 2013. On an organic basis, operating revenues grew by 1.0%.

Second quarter 2013 recurring subscription revenues rose $15.4 million, or 7.8%, to $213.5 million and 0.4% on an organic basis. Asset-based fees increased $2.9 million, or 8.4%, to $37.0 million and non-recurring revenues rose $1.1 million to $7.4 million.

Performance and Risk segment revenues rose $20.8 million to $228.4 million, an increase of 10.0% and 0.8% on an organic basis. The increase was primarily driven by increases in equity index and environmental, social and governance (“ESG”) products.

Governance segment revenues fell $1.5 million, or 4.9%, to $29.5 million in second quarter 2013, as the loss of revenues resulting from the sale of the CFRA product line more than offset organic growth. On an organic basis, Governance revenues rose 3.0%, driven by higher revenues from advisory compensation data and analytics products.

Operating Expenses – See Table 6

Total operating expenses rose $9.3 million, or 6.1%, to $160.7 million, substantially driven by higher costs from recent acquisitions.

Other Expense (Income), Net

Other expense (income), net for second quarter 2013 was $5.9 million, a decline of $23.9 million from second quarter 2012. Interest expense fell by $23.1 million to $6.5 million. Second quarter 2012 interest expense included an expense of $20.6 million resulting from MSCI refinancing its indebtedness. Excluding the impact of the $20.6 million charge in the prior period, other expense (income), net declined $3.3 million as a result of lower indebtedness and lower interest rates.

Provision for Income Taxes

Income tax expense was $30.2 million in second quarter 2013, up 53.2% from second quarter 2012. The effective tax rate in second quarter 2013 fell to 33.1% from 34.4% a year ago.

Net Income and Earnings per Share – See Table 14

Net income rose $23.5 million, or 62.6%, to $61.1 million for second quarter 2013. The net income margin increased to 23.7% from 15.7% as a result of the higher operating profit margin and lower interest costs. Diluted EPS rose by $0.20, or 66.7%, to $0.50, driven by higher net income and a 1.0% decline in the weighted average of diluted shares outstanding in second quarter 2013. Adjusted net income, which excludes the after-tax impact of amortization of intangibles, non-recurring stock-based compensation expense, debt repayment and refinancing expenses, the lease exit charge and restructuring costs, rose $8.9 million, or 14.5%, to $70.5 million. Adjusted EPS, which excludes the after-tax, per share impact of amortization of intangibles, non-recurring stock-based compensation expense, debt repayment and refinancing expenses, the lease exit charge and restructuring costs totaling $0.08, rose $0.08, or 16.0%, to $0.58.

See Table 14 titled “Reconciliation of Adjusted Net Income and Adjusted EPS to Net Income and EPS (unaudited)” and “Notes Regarding the Use of Non-GAAP Financial Measures” below.

Adjusted EBITDA – See Table 13

Adjusted EBITDA, which excludes income taxes, other net expense and income, depreciation, amortization, non-recurring stock-based compensation, the lease exit charge and restructuring costs, was $116.6 million, up $8.7 million, or 8.0%, from second quarter 2012. The Adjusted EBITDA margin remained 45.2%. Second quarter 2013 Adjusted EBITDA and Adjusted EBITDA margin benefited from the seasonal strength in IPD revenues.

By segment, Adjusted EBITDA for the Performance and Risk segment increased $6.2 million, or 6.1%, to $108.8 million in second quarter 2013. The Adjusted EBITDA margin for this segment fell to 47.6% from 49.4%. Adjusted EBITDA for the Governance segment increased $2.4 million, or 45.7%, to $7.7 million and the Adjusted EBITDA margin rose to 26.3% from 17.2%. The increase in Governance segment Adjusted EBITDA was driven by a reduction in severance, occupancy and information technology costs compared to second quarter 2012.

See Table 13 titled “Reconciliation of Adjusted EBITDA to Net Income (unaudited)” and “Notes Regarding the Use of Non-GAAP Financial Measures” below.

Summary of Results for Six Months Ended June 30, 2013 compared to Six Months Ended June 30, 2012

Operating Revenues – See Table 5

Total operating revenues for the six months ended June 30, 2013 (“six months 2013”) increased $42.2 million, or 9.0%, to $509.8 million compared to $467.6 million for the six months ended June 30, 2012 (“six months 2012”). Total subscription revenues rose $37.4 million, or 9.7%, to $422.1 million, while asset-based fees rose $4.8 million, or 7.0%, to $73.5 million. Total non-recurring revenues were unchanged at $14.2 million. On an organic basis, total operating revenues grew by 3.4%.

Performance and Risk segment revenues rose $42.2 million, or 10.4%, to $447.9 million for six months 2013, and 3.3% on an organic basis. Index and ESG products and risk management analytics revenues grew 17.3% and 4.5%, respectively, in six months 2013, or organically by 5.7% and 1.5%, respectively. Portfolio management analytics revenues fell 8.0%. Energy and other commodity analytics revenues increased $3.7 million, or 150.3%, primarily as a result of a $5.2 million non-cash cumulative revenue reduction to correct an error that was recorded in first quarter 2012. Excluding the impact of that error, energy and commodity analytics revenues declined 19.2%.

Governance revenues were $61.9 million, essentially flat versus six months 2012. On an organic basis, revenue grew by 4.0%.

Operating Expenses – See Table 7

Total operating expenses increased $22.6 million, or 7.5%, to $322.1 million in six months 2013 compared to six months 2012 driven primarily by the acquisitions of IPD and InvestorForce. The increase largely reflects increases of $22.1 million, or 11.9%, in total compensation expenses and $2.4 million, or 3.4%, in non-compensation expenses offset by a decline of $1.7 million, or 4.1%, in total depreciation and amortization expenses.

Other Expense (Income), Net

Other expense (income), net for six months 2013 was $12.9 million, a decline of $29.7 million from six months 2012. Other expense (income), net includes debt repayment and refinancing expenses of $20.6 million in six months 2012. Excluding the change in debt repayment and refinancing expenses, other expense (income), net declined by $9.1 million in six months 2013 primarily as a result of a combination of lower levels of indebtedness and a lower cost of debt.

Provision for Income Taxes

The provision for income tax expense was $54.8 million in six months 2013, up $10.8 million from six months 2012. Year to date 2013 income tax expense benefited from discrete items of $3.9 million primarily related to a reduction in state taxes and the 2012 reinstatement of the research and development tax credit. The effective tax rate was 31.4% in six months 2013, versus 35.1% a year ago.

Net Income and Earnings per Share – See Table 14

Net income increased $38.5 million, or 47.2%, to $120.0 million and the net income margin increased to 23.5% from 17.4%. Diluted EPS rose 48.5% to $0.98 from $0.66.

Adjusted net income, which excludes the after-tax impact of amortization of intangibles, non-recurring stock-based compensation expense, debt repayment and refinancing expenses, the lease exit charge and restructuring costs totaling $19.7 million, rose $23.5 million, or 20.2%, to $139.6 million. Adjusted EPS, which excludes the after-tax, per share impact of amortization of intangibles, non-recurring stock-based compensation expense, debt repayment and refinancing expenses, the lease exit charge and restructuring costs totaling $0.16, rose 21.3% to $1.14 in six months 2013.

See Table 14 titled “Reconciliation of Adjusted Net Income and Adjusted EPS to Net Income and EPS (unaudited)” and “Notes Regarding the Use of Non-GAAP Financial Measures” below.

Adjusted EBITDA – See Table 13

Adjusted EBITDA was $226.7 million, an increase of $16.8 million, or 8.0%, from six months 2012. Adjusted EBITDA margin fell slightly to 44.5% from 44.9%.

By segment, Adjusted EBITDA for the Performance and Risk segment increased $14.0 million, or 7.1%, to $210.8 million from six months 2012. Adjusted EBITDA margin declined to 47.1% in six months 2013 from 48.5% in six months 2012. Adjusted EBITDA for the Governance segment rose $2.8 million, or 21.8%, to $15.9 million in six months 2013. The Adjusted EBITDA Margin for the Governance segment was 25.7%, up from 21.0% in six months 2012.

See Table 13 titled “Reconciliation of Adjusted EBITDA to Net Income (unaudited)” and “Notes Regarding the Use of Non-GAAP Financial Measures” below.

Key Operating Metrics – See Tables 10, 11, 12

Total Run Rate grew by $73.0 million, or 7.9%, to $992.6 million as of June 30, 2013 compared to June 30, 2012. For the purposes of analyzing changes in Run Rate, organic growth comparisons exclude the impact of the acquisitions of IPD and InvestorForce, as well as the sale of the CFRA product line, which was sold on March 31, 2013. On an organic basis, total subscription Run Rate grew by 3.7%. Changes in foreign currency rates over the past twelve months negatively impacted Run Rate by $6.0 million, including $1.3 million relative to first quarter 2013.

Performance and Risk segment Run Rate grew by $75.3 million, or 9.3%, to $880.9 million. On an organic basis, Performance and Risk Run Rate grew by 3.1%.

Governance Run Rate declined by $2.3 million, or 2.0%, to $111.7 million. On an organic basis, Run Rate grew by 6.0%, reflecting strong growth in the Run Rate of corporate compensation data and analytics products and services and modest growth in the Run Rate of proxy research and voting services.

Accelerated Share Repurchase Agreements

On July 31, 2013, MSCI settled the $100.0 million ASR agreement entered into with Morgan Stanley & Co. LLC (“Morgan Stanley”) on December 14, 2012 in accordance with its terms. Pursuant to the ASR agreement, MSCI repurchased a total of 2,988,117 shares of its common stock, which included an initial delivery of 2,226,028 shares in December 2012 and 762,089 shares delivered at settlement. The average purchase price for the shares was $33.47 per share. The repurchased shares will be held in treasury.

MSCI intends to enter into another $100.0 million ASR agreement with Morgan Stanley, following the close of today’s market, which will begin immediately. Under this new ASR agreement, MSCI will pay Morgan Stanley $100.0 million in cash and receive from Morgan Stanley an initial delivery of shares of its common stock on August 2, 2013 and may receive from Morgan Stanley additional shares at or prior to maturity of the ASR agreement, which MSCI anticipates will be no later than December 2013.

Both of the ASR agreements were authorized pursuant to a $300.0 million share repurchase program approved by MSCI’s Board of Directors in 2012. The remaining $100.0 million balance of the authorization will be available for utilization from time to time through 2014 at management’s discretion.

Conference Call Information

Investors will have the opportunity to listen to MSCI Inc.'s senior management review second quarter 2013 results on Thursday, August 1, 2013 at 11:00 am Eastern Time. To listen to the live event, visit the investor relations section of MSCI's website, http://ir.msci.com/events.cfm, or dial 1-877-312-9206 within the United States. International callers dial 1-408-774-4001.

An audio recording of the conference call will be available on our website approximately two hours after the conclusion of the live event and will be accessible through August 3, 2013. To listen to the recording, visit http://ir.msci.com/events.cfm, or dial 1-855-859-2056 (passcode: 17528956) within the United States. International callers dial 1-404-537-3406 (passcode: 17528956).

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 approximately 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 September 30, 2012, as reported by eVestment, Lipper and Bloomberg on January 31, 2013

For further information on MSCI, please visit our website at www.msci.com

Forward-Looking Statements

This earnings release may contain 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 our 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 our control and that could materially affect actual results, levels of activity, performance, or achievements.

Other factors that could materially affect 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 filed with the Securities and Exchange Commission ("SEC") on March 1, 2013, and in 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 our underlying assumptions prove to be incorrect, actual results may vary significantly from what MSCI 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 operations, results of operations, growth strategy and liquidity. MSCI assumes 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, except as required by law.

Website and Social Media Disclosure

MSCI uses its website and corporate Twitter account (@MSCI_Inc) as channels of distribution of company information. The information we post through these channels may be deemed material. Accordingly, investors should monitor these channels, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about MSCI when you enroll your email address by visiting the “Email Alert Subscription” section at http://ir.msci.com/alerts.cfm?. The contents of MSCI's website and social media channels are not, however, incorporated by reference into this earnings release.

Notes Regarding the Use of Non-GAAP Financial Measures

MSCI has presented supplemental non-GAAP financial measures as part of this earnings release. A reconciliation is provided that reconciles each non-GAAP financial measure with the most comparable GAAP measure. The presentation of non-GAAP financial measures should not be considered as alternative measures for the most directly comparable GAAP financial measures. These measures are used by management to monitor the financial performance of the business, inform business decision making and forecast future results.

Adjusted EBITDA is defined as net income before provision for income taxes, other net expense and income, depreciation and amortization, non-recurring stock-based compensation expense, the lease exit charge and restructuring costs.

Adjusted net income and Adjusted EPS are defined as net income and EPS, respectively, before provision for non-recurring stock-based compensation expenses, amortization of intangible assets, restructuring costs, the lease exit charge and the accelerated amortization or write-off of deferred financing and debt discount costs as a result of debt repayment (debt repayment and refinancing expenses), as well as for any related tax effects.

We believe that adjustments related to the lease exit charge, restructuring costs and debt repayment and refinancing expenses are useful to management and investors because it allows for an evaluation of MSCI’s underlying operating performance. Additionally, we believe that adjusting for non-recurring stock-based compensation expenses, debt repayment and refinancing expenses and depreciation and amortization may help investors compare our performance to that of other companies in our industry as we do not believe that other companies in our industry have as significant a portion of their operating expenses represented by these items. We believe that the non-GAAP financial measures presented in this earnings release facilitate meaningful period-to-period comparisons and provide a baseline for the evaluation of future results.

Adjusted EBITDA, Adjusted net income and Adjusted EPS are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies.

CONTACT:
MSCI Inc. Contact:
W. Edings Thibault, MSCI, New York + 1.212.804.5273
Media Inquiries:
Jo Morgan, MSCI, London + 44.20.7618.2224
Kristin Meza, MSCI, New York + 1.212.804.5330
Sally Todd | Christian Pickel, MHP Communications, London + 44.20.3128.8100

Exhibit 99.2

msci.com ©2013. All rights reserved. msci.com Second Quarter 2013 Earnings Presentation August 1, 2013

msci.com ©2013. All rights reserved. 2 msci.com Forward-Looking Statements and Other Information Forward-Looking Statements – Safe Harbor Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 our control and that could materially affect actual results, levels of activity, performance or achievements. For a discussion of risk and uncertainties that could materially affect actual results, levels of activity, performance or achievements, please see the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and its other reports filed with the SEC. Any forward-looking statements included in this presentation reflect the Company’s view as of the date of the presentation. The Company assumes 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, except as required by law. Other Information Percentage changes and totals in this presentation may not sum due to rounding. Percentage changes are referenced to the comparable period in 2012, unless otherwise noted. Total sales include recurring subscription sales and non-recurring sales. Definitions of Run Rate and Retention Rate provided on page

msci.com ©2013. All rights reserved. Second Quarter 2013 Highlights 3 Strong Financial Results Operating revenues increased 8% to $258 million, or by 1% organically1 Net income increased 63% to $61 million Diluted EPS rose 67% to $0.50 Adjusted EBITDA2 grew by 8% to $117 million, aided in part by seasonal revenues from IPD Adjusted EPS3 rose 16% to $0.58 Total Run Rate Growth of 8% - Organic Subscription Growth Of 4% Index and ESG subscription Run Rate up 23% to $351 million – 9% organic1 growth RMA Run Rate growth of 9% - organic growth of 5% Retention remains a strength Fulfilling Our Commitment To Return Capital To Shareholders Announced second $100 million accelerated share repurchase (“ASR”) program December 2012 ASR concluded in July – repurchased 3.0 million shares $100 million remaining of original $300 million share repurchase authorized in December 2012 (1) For the purposes of analyzing revenue and Run Rate trends, organic growth comparisons exclude the impact of the acquisitions of IPD Group Limited (“IPD”) and Investor Force Holdings, Inc. (“InvestorForce”), as well as the sale of the CFRA product line. (2) Net income before provision for income taxes, depreciation and amortization, other net expense and income, non-recurring stock-based compensation, the lease exit charge and restructuring costs. Please see pages 14-17 for reconciliation. (3) For the purposes of calculating Adjusted EPS, the after-tax impact of non-recurring stock-based compensation, amortization of intangible assets, debt repayment and refinancing expenses, the lease exit charge and restructuring costs are excluded from the calculation of EPS. Please see pages 14-17 for reconciliation.

msci.com ©2013. All rights reserved. Breakdown of Q2’12 vs Q2’13 Revenue Growth 4 By Revenue Type By Product Line (Dollars in millions) $238.6 $257.9 $15.4 $220$230$240$250$260Q2'12 revenueSubscription revenueAsset-based feesNon-recurringrevenueQ2'13 revenue$1.0$2.9$238.6 $257.9 $22.2 $2.5 ($3.2) ($0.7) ($1.5)$220$230$240$250$260$270Q2'12 revenueQ2'13 revenueIndex Risk mgmt. Portfolio Energy & Governance & ESG analytics mgmt. anal. comm. anal.

msci.com ©2013. All rights reserved. Summary of Second Quarter 2013 Operating Results 5 MSCI Total Run Rate Total Sales and Retention Run Rate (“RR”) grew YoY by 8% to $993 million Subscription Run Rate grew by 9%, or 4% organically Asset-based fee (“ABF”) Run Rate growth of 2% impacted by loss of Vanguard Currency changes remained a headwind versus Q1’13 ($1.3 million) and versus Q2’12 ($6.0 million) Total sales of $38 million, up 13% Recurring subscription sales of $31 million up 9% from Q2’12 and flat versus Q1’13 Continued benefit from strong retention rates (Dollars in millions) $791 $861 $129 $132 $550$650$750$850$950$1,050Q2'12Q2'13SubscriptionABFSubscription RR Growth: +9 %ABF RR Growth: +2 %$993 $920 Q2'12Q2'13Diff.H1'12H1'13Diff.Recurring Sub. Sales28$ 31$ 9%62$ 62$ 0%Non-Recurring Sales5$ 7$ 31%14$ 16$ 8%Total Sales33$ 38$ 13%76$ 78$ 2%Agg. Retention91%92%1%92%92%0%

msci.com ©2013. All rights reserved. Index and ESG Products 6 Index and ESG Run Rate and Revenue Second Quarter 2013 Highlights: Revenues grew 20% to $132 million, or 5% organically Seasonally strong quarter for IPD as forecasted Run Rate grew by 16% YoY to $483 million Subscription Run Rate grew by 23%, or 9% organically Asset-based fee Run Rate rose 2% ESG growth remains strong YoY changes in F/X rates lowered Run Rate by $2.4 million - $0.6 million sequentially Total sales of $18 million in Q2’13 up as a result of IPD acquisition Aggregate Retention Rate strong at 94% in Q2’13, 95% YTD Index and ESG Sales and Retention (Dollars in millions) $286 $351 $129 $132 $- $100 $200 $300 $400 $500 $600Q2'12Q2'13Run Rate$415$483$76 $95 $34 $37 $- $20 $40 $60 $80 $100 $120 $140Q2'12Q2'13Revenue$110$132Q2'12Q2'13Diff.H1'12H1'13Diff.Total Sales13$ 18$ 42%29$ 35$ 19%Agg. Retention95%94%-1%95%95%0%

msci.com ©2013. All rights reserved. Asset-Based Fees ETF AUM versus ABF Run Rate 7 MSCI-Linked ETF AUM by Market Exposure Second Quarter 2013 Highlights: Revenues grew 8% to $37 million Strong inflows into other ETFs and increases in non-ETF passive funds more than offset the loss of Vanguard Asset-based fee Run Rate rose 2% to $132 million, but declined 2% from Q1’13 2% growth despite Vanguard loss driven by improved mix, higher markets and strong flows Excluding Vanguard ETFs: Run Rate grew by 23% 3.6 average basis point fee at quarter-end Total ETF AUM fell by 18% to $270 billion at the end of Q2’13 Excluding Vanguard, AUM was up 28% YoY Balanced ETF exposure – EM outflows offset by strong flows into ETFs linked to Japan indices and others Emerging Markets, 31.4%Developed Markets Ex-U.S., 47.5%U.S., 16.4%Other, 4.7%AUM of $270 billion as of June 30, 2013 Source: Bloomberg $129$132 $110 $115 $120 $125 $130 $135 $140ABF Run RateQ2'12Q2'13$270 $50 $100 $150 $200 $250 $300 $350AUMMM$327BNBN(in millions)(in billions)

msci.com ©2013. All rights reserved. Risk Management Analytics Risk Management Analytics Run Rate and Revenue Second Quarter 2013 Highlights: Revenues grew by 4% to $67 million, or 1% organically Run Rate grew by 9% YoY to $281 million, or 5% organically Hedge funds contributed to run rate growth in 2Q Total sales of $12 million in Q2’13 Sales of RiskManager and BarraOne systems driving organic sales growth Strong start for InvestorForce products Aggregate Retention Rate increased to 93% for Q2’13 and H1’13 8 Risk Management Analytics Sales and Retention (Dollars in millions) $259$65$281$67 $- $50 $100 $150 $200 $250 $300Run RateRevenuesQ2'12Q2'13Q2'12Q2'13Diff.H1'12H1'13Diff.Total Sales10$ 12$ 15%21$ 23$ 8%Agg. Retention90%93%3%92%93%1%

msci.com ©2013. All rights reserved. Portfolio Management Analytics Portfolio Management Analytics Run Rate and Revenue Second Quarter 2013 Highlights: Revenues declined 11% to $26 million Run Rate declined by 11% YoY to $105 million F/X remained a drag: $3.3 million YoY, including $0.7 million in Q2’13 Total sales of $3 million down from prior year New products driving majority of sales Aggregate Retention Rate improved to 87% in Q2’13, at 84% for the first half New Japanese market model product incorporates innovative new factors 9 Portfolio Management Analytics Sales and Retention (Dollars in millions) $117$29$105$26 $- $20 $40 $60 $80 $100 $120 $140Run RateRevenuesQ2'12Q2'13Q2'12Q2'13Diff.H1'12H1'13Diff.Total Sales4$ 3$ -30%7$ 6$ -18%Agg. Retention84%87%3%88%84%-4%Core Retention87%88%1%90%85%-5%

msci.com ©2013. All rights reserved. Governance Governance Run Rate and Revenue Second Quarter 2013 Highlights: Revenues rose 3% organically to $29 million - down 5% due to sale of CFRA Run Rate increased 6% organically to $112 million - declined by 2% as reported Organic growth driven by sales of advisory compensation data and analytics Total sales for Q2’13 were $5 million Nominal sales decline a result of CFRA sale – sales grew organically ex-CFRA Aggregate Retention Rate strong at 93% in Q2’13 and 92% for H1’13, driven by strength in proxy research and voting services 10 Governance Sales and Retention (Dollars in millions) $114$31$112$29 $- $20 $40 $60 $80 $100 $120 $140Run RateRevenuesQ2'12Q2'13Q2'12Q2'13Diff.H1'12H1'13Diff.Total Sales6$ 5$ -21%18$ 14$ -24%Agg. Retention92%93%1%90%92%2%

msci.com ©2013. All rights reserved. $0$25$50$75$100Q2'12Q2'13$94 $102 $37 $39 Compensation(1)Non-Compensation(2)Compensation and Non-Compensation EBITDA Expense Comp and Non-Comp Expenses1,2 (Dollars in millions) (1) Compensation expense excludes non-recurring stock-based compensation. Please see page 17 for reconciliation to operating expenses. (2) Non-compensation excludes depreciation, amortization, the lease exit charge and restructuring costs. Please see page 17 for reconciliation to operating expenses. 11 Comp1 and Non-comp expenses2 increased 8% to $141 million Compensation expense rose 9% Increase driven by the impact of the acquisitions of IPD and InvestorForce Total headcount growth of 24% YoY to 2,957, up 4% from Q1’13 44% of employee base in low cost centers, up from 42% at end of Q2’12 and 41% at end of Q1’13 Non-compensation costs up 7% Higher non-compensation costs driven by acquisitions of IPD and InvestorForce +9% +7%

msci.com ©2013. All rights reserved. $20$40$60$80$100$120Q2'12Q2'13$38 $61 $108 $117 Net IncomeAdj. EBITDA$0.20$0.40$0.60Q2'12Q2'13$0.30 $0.50 $0.50 $0.58 Diluted EPSAdjusted EPSSummary of Profitability Metrics: Net Income, EPS and Adjusted EBITDA1 12 $ per share +67% +16% Diluted and Adjusted EPS2 Net Income increased 63% Interest expense fell due to $20.6 million of refinancing expense in 2012 and lower debt level Diluted EPS increased 20 cents to $0.50 Adjusted EBITDA1 was $117 million, up 8% Seasonally higher IPD revenues enhanced Q2’13 profitability Adjusted EPS2 increased 8 cents to $0.58 1% decrease in diluted weighted average shares outstanding Net Income and Adj. EBITDA1 +8% (1) Net income before provision for income taxes, depreciation and amortization, other net expense and income, non-recurring stock-based compensation, the lease exit charge and restructuring costs. Please see pages 14-17 for reconciliation. (2) For the purpose of calculating Adjusted EPS, the after-tax impact of non-recurring stock-based compensation, amortization of intangible assets, debt repayment expenses , the lease exit charge and restructuring costs are excluded from the calculation of EPS. Please see pages 14-17 for reconciliation. $ in millions +63%

msci.com ©2013. All rights reserved. 13 Select Balance Sheet, Cash Flow and Other Items $818M $335M June 30,December 31,In thousands20132012Cash and cash equivalents334,701$ 183,309$ Short-term investments- 70,898 Accounts receivable, net of allowances160,101 153,557 Deferred revenue347,470$ 308,022$ Current maturities of long-term debt43,118 43,093 Long-term debt, net of current maturities775,072 811,623 As of Total Cash & Investments Total Debt June 2013 Net Cash from Operations $86 million $157 million June 2013 Significant Non-Operating Cash Out-Flows Capital Expenditures $4 million $8 million Debt Repayments $11 million $37 million August 2013 Accelerated Share Repurchase $100 million Remaining Share Repurchase Authorization $100 million QTD YTD

msci.com ©2013. All rights reserved. Use of Non-GAAP Financial Measures and Operating Metrics MSCI has presented supplemental non-GAAP financial measures as part of this presentation. A reconciliation is provided that reconciles each non-GAAP financial measure with the most comparable GAAP measure. The presentation of non-GAAP financial measures should not be considered as alternative measures for the most directly comparable GAAP financial measures. These measures are used by management to monitor the financial performance of the business, inform business decision making and forecast future results. Adjusted EBITDA is defined as net income before provision for income taxes, other net expense and income, depreciation and amortization, non-recurring stock-based compensation expense, the lease exit charge and restructuring costs. Adjusted Net Income and Adjusted EPS are defined as net income and EPS, respectively, before provision for non-recurring stock-based compensation expenses, amortization of intangible assets, restructuring costs, the lease exit charge and the accelerated amortization or write off of deferred financing and debt discount costs as a result of debt repayment (debt repayment and refinancing expenses), as well as for any related tax effects. We believe that adjustments related to the lease exit charge, restructuring costs and debt repayment and refinancing expenses are useful to management and investors because it allows for an evaluation of MSCI’s underlying operating performance. Additionally, we believe that adjusting for non-recurring stock-based compensation expenses, debt repayment and refinancing expenses and depreciation and amortization may help investors compare our performance to that of other companies in our industry as we do not believe that other companies in our industry have as significant a portion of their operating expenses represented by these items. We believe that the non-GAAP financial measures presented in this presentation facilitate meaningful period-to-period comparisons and provide a baseline for the evaluation of future results. Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. The Run Rate at a particular point in time represents the forward-looking revenues for the next 12 months from all subscriptions and investment product licenses we currently provide to our clients under renewable contracts or agreements assuming all contracts or agreements that come up for renewal are renewed and assuming then-current currency exchange rates. For any license where fees are linked to an investment product’s assets or trading volume, the Run Rate calculation reflects an annualization of the most recent periodic fee earned under such license or subscription. The Run Rate for IPD products was approximated using the trailing 12 months of revenues primarily adjusted for estimates for non-recurring sales, new sales and cancellations. The Run Rate does not include fees associated with “one-time” and other non-recurring transactions. In addition, we remove from the Run Rate the fees associated with any subscription or investment product license agreement with respect to which we have received a notice of termination or non-renewal during the period and determined that such notice evidences the client’s final decision to terminate or not renew the applicable subscription or agreement, even though such notice is not effective until a later date. The Aggregate Retention Rates are calculated by annualizing the cancellations for which we have received a notice of termination or non-renewal during the applicable period and have determined that such notice evidences the client’s final decision to terminate or not renew the applicable subscription or agreement, even though such notice is not effective until a later date. This annualized cancellation figure is then divided by the subscription Run Rate at the beginning of the year to calculate a cancellation rate. This cancellation rate is then subtracted from 100% to derive the annualized Aggregate Retention Rate for the applicable period. The Aggregate Retention Rate is computed on a product-by-product basis. Therefore, if a client reduces the number of products to which it subscribes or switches between our products, we treat it as a cancellation. In addition, we treat any reduction in fees resulting from renegotiated contracts as a cancellation in the calculation to the extent of the reduction. For the calculation of the Core Retention Rate, the same methodology is used except the cancellations in the applicable period are reduced by the amount of product swaps.

msci.com ©2013. All rights reserved. 15 Reconciliation of Adjusted Net Income and Adjusted EPS June 30,June 30,March 31,June 30,June 30,In thousands, except per share data20132012201320132012Net Income61,053$ 37,546$ 58,937$ 119,990$ 81,512$ Plus:Non-recurring stock-based compensation- 192 - - 774 Plus:Amortization of intangible assets14,509 15,959 14,486 28,995 31,918 Plus:Debt repayment and refinancing expenses- 20,639 - - 20,639 Plus:Lease exit charge(365) - - (365) - Plus:Restructuring costs- (22) - - (51) Less:Income tax effect(4,711) (12,775) (4,268) (8,979) (18,648) Adjusted net income70,486$ 61,539$ 69,155$ 139,641$ 116,144$ Diluted EPS0.50$ 0.30$ 0.48$ 0.98$ 0.66$ Plus:Non-recurring stock-based compensation- - - - 0.01 Plus:Amortization of intangible assets0.12 0.13 0.12 0.24 0.26 Plus:Debt repayment and refinancing expenses- 0.17 - - 0.17 Plus:Lease exit charge- - - - - Plus:Restructuring costs- - - - (0.01) Less:Income tax effect(0.04) (0.10) (0.03) (0.08) (0.15) Adjusted EPS0.58$ 0.50$ 0.57$ 1.14$ 0.94$ Three Months EndedSix Months Ended

msci.com ©2013. All rights reserved. Reconciliation of Adjusted EBITDA to Net Income 16 In thousandsPerformance and RiskGovernanceTotalPerformance and RiskGovernanceTotalNet Income61,053$ 37,546$ Plus:Provision for income taxes30,206 19,715 Plus:Other expense (income), net5,913 29,860 Operating income93,574$ 3,598$ 97,172$ 85,980$ 1,141$ 87,121$ Plus:Non-recurring stock-based compensation- - - 172 20 192 Plus:Depreciation and amortization of property,equipment and leasehold improvements4,329 917 5,246 3,817 845 4,662 Plus:Amortization of intangible assets11,221 3,288 14,509 12,639 3,320 15,959 Plus:Lease exit charge(308) (57) (365) - - - Plus:Restructuring costs- - - (13) (9) (22) Adjusted EBITDA108,816$ 7,746$ 116,562$ 102,595$ 5,317$ 107,912$ In thousandsPerformance and RiskGovernanceTotalPerformance and RiskGovernanceTotalNet Income119,990$ 81,512$ Plus:Provision for income taxes54,820 43,988 Plus:Other expense (income), net12,889 42,600 Operating income180,273$ 7,426$ 187,699$ 163,455$ 4,645$ 168,100$ Plus:Non-recurring stock-based compensation- - - 696 78 774 Plus:Depreciation and amortization of property,equipment and leasehold improvements8,418 1,908 10,326 7,382 1,696 9,078 Plus:Amortization of intangible assets22,387 6,608 28,995 25,278 6,640 31,918 Plus:Lease exit charge(308) (57) (365) - - - Plus:Restructuring costs- - - (32) (19) (51) Adjusted EBITDA210,770$ 15,885$ 226,655$ 196,779$ 13,040$ 209,819$ Three Months Ended June 30, 2013Three Months Ended June 30, 2012Six Months Ended June 30, 2013Six Months Ended June 30, 2012

msci.com ©2013. All rights reserved. Reconciliation of Operating Expenses 17 June 30,June 30,March 31,June 30,March 31,In thousands20132012201320122013Cost of servicesCompensation61,768$ 55,492$ 61,149$ 11.3%1.0%Non-recurring stock based compensation- 94 - (100.0%)n/mTotal compensation61,768$ 55,586$ 61,149$ 11.1%1.0%Non-compensation21,734 17,657 19,036 23.1%14.2%Lease exit charge1(143) - - n/mn/mTotal non-compensation21,591 17,657 19,036 22.3%13.4%Total cost of services83,359$ 73,243$ 80,185$ 13.8%4.0%Selling, general and administrative Compensation39,890$ 38,025$ 45,656$ 4.9%(12.6%)Non-recurring stock based compensation- 98 - (100.0%)n/mTotal compensation39,890$ 38,123$ 45,656$ 4.6%(12.6%)Non-compensation17,944 19,479 15,975 (7.9%)12.3%Lease exit charge1(222) - - n/mn/mTotal non-compensation17,722 19,479 15,975 (9.0%)10.9%Total selling, general and administrative57,612$ 57,602$ 61,631$ 0.0%(6.5%)Restructuring costs- (22) - (100.0%)n/mAmortization of intangible assets14,509 15,959 14,486 (9.1%)0.2%Depreciation and amortization of property,equipment and leasehold improvements5,246 4,662 5,080 12.5%3.3%Total operating expenses160,726$ 151,444$ 161,382$ 6.1%(0.4%)Compensation 101,658$ 93,517$ 106,805$ 8.7%(4.8%)Non-recurring stock-based compensation- 192 - (100.0%)n/mNon-compensation expenses39,678 37,136 35,011 6.8%13.3%Lease exit charge1(365) - - n/mn/mRestructuring costs- (22) - (100.0%)n/mAmortization of intangible assets14,509 15,959 14,486 (9.1%)0.2%Depreciation and amortization of property,equipment and leasehold improvements5,246 4,662 5,080 12.5%3.3% Total operation expensesTotal operating expenses160,726$ 151,444$ 161,382$ 6.1%(0.4%)Three Months Ended% Change from1Second quarter 2013 included a benefit of $0.4 million associated with an occupancy lease exit charge resulting from the consolidation of our New York offices.n/m = not meaningful