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Phillip Grayphillip.gray@morningstar.com
Morningstar Australasia Completes Acquisition of Sydney-based Aegis Equities Research

SYDNEY, 1 April 2010—Morningstar Australasia Pty Limited, an Australian subsidiary of Morningstar, Inc. (NASDAQ: MORN), has completed its previously announced acquisition of Aegis Equities Research, a leading provider of independent equity research, from Aegis Equities Holdings Pty Ltd.

Aegis Equities Research was founded in 1999 and currently serves institutional, adviser, and retail clients. It operates a web-based research platform that includes proprietary equities research and market commentary on more than 200 Australian Securities Exchange (ASX)-listed companies for brokers, financial advisers, and other institutions. Aegis also operates ShareAnalysis.com, a subscription-based website for individual investors, and publishes the ShareAnalysis weekly e-newsletter, which includes market news, analysis, and investment ideas. The Aegis business also provides model equities portfolios that can be licensed as a sub-advisory service for managed accounts or in 'buy lists'.

The press release announcing Morningstar's plan to acquire Aegis Equities Research is available at http://global.morningstar.com/aegis.

About Morningstar Australasia and Morningstar, Inc.
Morningstar Australasia is a subsidiary of Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisers, and institutions. Morningstar provides data on approximately 350,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than four million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.

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