Source: Global Investor Magazine, Top 100 Largest Asset Managers, Dec/Jan 2006.

Asset Management services provided by Barclays Global Investors, N.A. and other global affiliates of Barclays Bank PLC. Barclays Global Investors, N.A. is a national banking association whose primary regulator is the Office of Comptroller of the Currency, the agency of the U.S. Treasury department that regulates U.S. national banks. Investment products are: NOT FDIC INSURED, NOT BANK GUARANTEED, MAY LOSE VALUE.

Source: *BGI. Forbes, Sept 1979; Journal of Portfolio Management, 1980.
Source: **BGI 12/31/06.
Source: ***Global Investor Magazine, (1/07).


¹ BGI 12/31/06.
² BGI, Pensions & Investments (9/06).
³ BGI 12/31/05, BGI 12/31/06.
⁴ BGI, Forbes (3/06).
⁵ BGI, Pensions & Investments (1/07).
⁶ Global Investor (1/07), Pensions & Investments (9/06).


Asset Management services provided by Barclays Global Investors, N.A. and other global affiliates of Barclays Bank PLC. Barclays Global Investors, N.A. is a national banking association whose primary regulator is the Office of Comptroller of the Currency, the agency of the U.S. Treasury department that regulates U.S. national banks. Investment products are: NOT FDIC INSURED, NOT BANK GUARANTEED, MAY LOSE VALUE.

Source: In terms of assets under management, market share and number of funds, according to the Morgan Stanley Institutional Equity Report, 2/22/07.

Carefully consider the iShares funds' investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the funds' prospectuses, which may be obtained by calling 1 800 iShares (1 800 474 2737) or by visiting iShares.com. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. The iShares Funds ("Funds") that are registered with the US Securities and Exchange Commission under the Investment Company Act of 1940 are distributed in the US by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA) serves as an advisor to the Funds. Barclays Global Investors Services (BGIS) assists in the marketing of the Funds. BGFA and BGIS are subsidiaries of Barclays Global Investors, N.A., which is a majority-owned subsidiary of Barclays Bank PLC, none of which is affiliated with SEI. This material does not constitute an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. Investment products are: NOT FDIC INSURED, NOT BANK GUARANTEED, MAY LOSE VALUE.

iShares® is a registered trademark of Barclays Global Investors, N.A. Barclays is a trademark of Barclays Bank PLC. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.

Source: *Strategic Insights as of 12/31/2006. Includes iShares grantor trust products. Excludes Money Market Funds and Funds of Funds.

¹ Morgan Stanley Global Review as of YE'06.


Carefully consider the iShares funds' investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the funds' prospectuses, which may be obtained by calling 1 800 iShares (1 800 474 2737) or by visiting iShares.com. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. The iShares Funds ("Funds") that are registered with the US Securities and Exchange Commission under the Investment Company Act of 1940 are distributed in the US by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA) serves as an advisor to the Funds. Barclays Global Investors Services (BGIS) assists in the marketing of the Funds. BGFA and BGIS are subsidiaries of Barclays Global Investors, N.A., which is a majority-owned subsidiary of Barclays Bank PLC, none of which is affiliated with SEI. This material does not constitute an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction.

iShares® is a registered trademark of Barclays Global Investors, N.A. Barclays is a trademark of Barclays Bank PLC. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.

Investment banking services provided by Barclays Capital. Barclays Capital is the investment banking division of Barclays Bank PLC, which is authorized and regulated by the Financial Services Authority and undertakes US securities business in the name of its wholly-owned subsidiary Barclays Capital Inc., a SIPC and NASD member. Investment products are: NOT FDIC INSURED, NOT BANK GUARANTEED, MAY LOSE VALUE.

¹ Increase is from December 31, 2005. $ figures are converted using the year end US$/£ exchange rate for the year ended December 31, 2006 of $1.84/£1.
² EuroWeek, December 2006.
³ Derivatives Week, November 2006.
⁴ Risk, January 2007.
⁵ Thomson Financial, December 2006 excluding self-issuance.
⁶ Thomson Financial, December 2006.
⁷ Loan Pricing Corporation, 2006.
⁸ Dealogic, full year December 2006.


Investment banking services provided by Barclays Capital. Barclays Capital is the investment banking division of Barclays Bank PLC, which is authorized and regulated by the Financial Services Authority and undertakes US securities business in the name of its wholly-owned subsidiary Barclays Capital Inc., a SIPC and NASD member. Investment products are: NOT FDIC INSURED, NOT BANK GUARANTEED, MAY LOSE VALUE.

Barclays is a trademark of Barclays Bank PLC.