Barclays Global Investors Announces Strategic Move to List iShares(R) Products on the New York Stock Exchange and the Archipelago Exchange.

SAN FRANCISCO -- Barclays Global Investors (BGI), a worldwide leader in exchange traded funds (ETFs), announced today that the primary listings of 81 iShares products will transfer from the American Stock Exchange (AMEX) to the New York Stock Exchange (NYSE) and the Archipelago Exchange (ArcaEx(R)). Subject to legal contingencies such as regulatory approval, 61 iShares Funds will move to the NYSE and 19 iShares Funds and one grantor trust will move to ArcaEx. For an orderly transition, the products are expected to move in several phases starting later this year and concluding in 2007. No action is needed by current shareholders.

"The decision to move the funds follows a year-long, comprehensive review of the exchanges, during which BGI concluded that the NYSE and ArcaEx have unique attributes and a demonstrated commitment to building the technology and infrastructure that will facilitate trading of iShares products in the future and support the growing iShares business," said Lee Kranefuss, CEO of BGI's Intermediary Business.

Kranefuss further stated: "We're pleased to strengthen our partnership with the NYSE, which already successfully lists 16 iShares Funds, and to forge a new partnership with ArcaEx, which currently trades approximately 30% of ETF shares traded(1). Both exchanges will dedicate the new resources required to support this new business."

The allocation of the iShares products between the NYSE and ArcaEx is designed to take best advantage of each exchange's unique attributes, be it pure electronic execution with a dedicated liquidity provider or a floor-based specialist system. For list of iShares products impacted, see Addendum.

BGI's U.S. ETF business has grown from $2 billion in assets with 17 funds when it launched the iShares brand in 2000 to $140 billion with 99 iShares products today. The iShares family of funds is the third fastest growing open-end fund complex(2). Sixteen iShares ETF primary listings are on the NYSE and one is on the Chicago Board Options Exchange (CBOE).

"We are delighted that BGI has chosen the New York Stock Exchange as the largest market for listing iShares Funds, and we are extremely proud of our growing partnership with BGI," said NYSE CEO John A. Thain. "The New York Stock Exchange is committed to offering investors the highest level of market quality as well as the broadest array of investment offerings, and BGI's decision is an affirmation of that commitment."

"We are pleased to have 20 iShares products join the growing ranks of ArcaEx exclusive listings and look forward to partnering with BGI, a recognized innovator in ETFs," said Jerry Putnam, CEO of the Archipelago Exchange. "The benefits of ArcaEx's investor focused marketplace, including fast, efficient and transparent order processing are well suited to the trading of iShares products as is evidenced by our leading market share in these products today."

There will be a conference call exclusively for media with Lee Kranefuss, CEO of BGI's Intermediary Business, today, July 20, at 11:00 a.m. ET - 12:00 n. E.T. To participate, dial (United States) 800-288-9626 or (International) 612-332-0342.

The iShares(R) Funds are index funds whose shares may be bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relatively low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. To determine if the fund(s) are an appropriate investment for you, carefully consider the 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 or by visiting www.ishares.com. Read the prospectus carefully before investing.

Barclays Global Investors (BGI) is one of the world's largest asset managers(3) providing structured investment strategies such as risk-controlled active strategies and indexing. In the US, BGI is one of the largest active managers(4), set apart by its risk-controlled approach. BGI manages 65% of the world's 100 largest pension plans(5) and is the global leader in assets and products in the exchange traded funds through its iShares(R) brand with more than 120 ETFs. The firm managed over $1.3 trillion in assets as of 12/31/04, for more than 2,600 clients in 48 countries around the world. BGI is an innovator in investment management, applying science and technology to the investment process. BGI is owned by Barclays PLC, one of the world's leading global financial services providers.

The iShares Funds registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 as iShares, Inc. and iShares Trust (the "iShares Funds") are distributed by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA) serves as an advisor to the iShares Funds. Barclays Global Investors Services (BGIS) assists in the marketing of the iShares Funds. BGFA and BGIS are subsidiaries of Barclays Global Investors, N.A., a wholly owned subsidiary of Barclays Bank PLC, none of which is affiliated with SEI.

Investing involves risk, including possible loss of principal. Transactions in shares of the iShares Funds will result in brokerage commissions.

(C) 2005 Barclays Global Investors. All rights reserved. iShares is a registered trademark of Barclays Global Investors, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.

(1)Source: ArcaVision market data for Q2 2005.

(2)Source: FRC, May 2005.

(3)Source: "P&I/Watson Wyatt World 500," Pensions & Investments, September 6, 2004.

(4)Source: "Special Reports: Money Manager Directory," Pensions & Investments, May 31, 2004.

(5)Source: "P&I/Watson Wyatt World's 250 Largest Retirement Plans," Pensions & Investments, December 27, 2004.

ADDENDUM

iShares Funds moving to the NYSE                         Expected Time
                                                          of Move
======================================================================
                                                         2005
----------------------------------------------------------------------
iShares Dow Jones U.S. Basic Materials Sector Index Fund
 (IYM)
iShares Dow Jones U.S. Consumer Services Sector Index
 Fund (IYC)
iShares Dow Jones U.S. Consumer Goods Sector Index Fund
 (IYK)
iShares Dow Jones U.S. Energy Sector Index Fund (IYE)
iShares Dow Jones U.S. Financial Sector Index Fund (IYF)
iShares Dow Jones U.S. Financial Services Index Fund
 (IYG)
iShares Dow Jones U.S. Healthcare Sector Index Fund
 (IYH)
iShares Dow Jones U.S. Industrial Sector Index Fund
 (IYJ)
iShares Dow Jones U.S. Real Estate Index Fund (IYR)
iShares Dow Jones U.S. Technology Sector Index Fund
 (IYW)
iShares Dow Jones U.S. Telecommunications Sector Index
 Fund (IYZ)
iShares Dow Jones U.S. Total Market Index Fund (IYY)
iShares Dow Jones U.S. Utilities Sector Index Fund (IDU)
iShares Dow Jones Transportation Average Index Fund
 (IYT)
iShares MSCI Belgium Index Fund (EWK)
iShares MSCI Brazil Index Fund (EWZ)
iShares MSCI France Index Fund (EWQ)
iShares MSCI Hong Kong Index Fund (EWH)
iShares MSCI Italy Index Fund (EWI)
iShares MSCI Japan Index Fund (EWJ)
iShares MSCI Malaysia Index Fund (EWM)
iShares MSCI Netherlands Index Fund (EWN)
iShares MSCI Singapore Index Fund (EWS)
iShares MSCI South Korea Index Fund (EWY)
iShares MSCI Spain Index Fund (EWP)
iShares MSCI Sweden Index Fund (EWD)
iShares MSCI Switzerland Index Fund (EWL)
iShares MSCI Taiwan Index Fund (EWT)
iShares MSCI United Kingdom Index Fund (EWU)
iShares S&P 500 Index Fund (IVV)
iShares S&P 500/BARRA Growth Index Fund (IVW)
iShares S&P 500/BARRA Value Index Fund (IVE)
iShares S&P MidCap 400 Index Fund (IJH)
iShares S&P MidCap 400/BARRA Growth Index Fund (IJK)
iShares S&P MidCap 400/BARRA Value Index Fund (IJJ)
iShares S&P SmallCap 600 Index Fund (IJR)
iShares S&P SmallCap 600/BARRA Growth Index Fund (IJT)
iShares S&P SmallCap 600/BARRA Value Index Fund (IJS)
iShares S&P 1500 Index Fund (ISI)
iShares S&P Europe 350 Index Fund (IEV)
                                                         2006
----------------------------------------------------------------------
iShares MSCI EAFE Index Fund (EFA)
iShares MSCI Emerging Markets Index Fund (EEM)
iShares MSCI South Africa Index Fund (EZA)
iShares MSCI Pacific ex-Japan Index Fund (EPP)
iShares S&P Global Energy Sector Index Fund (IXC)
iShares S&P Global Financials Sector Index Fund (IXG)
iShares S&P Global Healthcare Sector Index Fund (IXJ)
iShares S&P Global Technology Sector Index Fund (IXN)
iShares S&P Global Telecommunications Sector Index Fund
 (IXP)
iShares S&P TOPIX 150 Index Fund (ITF)
iShares S&P Latin America 40 Index Fund (ILF)
iShares Goldman Sachs Natural Resources Index Fund (IGE)
iShares Goldman Sachs Networking Index Fund (IGN)
iShares Goldman Sachs Semiconductor Index Fund (IGW)
iShares Goldman Sachs Software Index Fund (IGV)
iShares Goldman Sachs Technology Index Fund (IGM)
                                                         2007
----------------------------------------------------------------------
iShares Lehman Aggregate Bond Fund (AGG)
iShares Lehman 1-3 Year Treasury Bond Fund (SHY)
iShares Lehman 7-10 Year Treasury Bond Fund (IEF)
iShares Lehman 20+ Year Treasury Bond Fund (TLT)
iShares GS $ InvesTop(TM) Corporate Bond Fund (LQD)

iShares Moving to ArcaEx
======================================================================
                                                         2005
----------------------------------------------------------------------
iShares Russell 1000 Index Fund (IWB)
iShares Russell 1000 Growth Index Fund (IWF)
iShares Russell 1000 Value Index Fund (IWD)
iShares Russell 2000 Index Fund (IWM)
iShares Russell 2000 Growth Index Fund (IWO)
iShares Russell 2000 Value Index Fund (IWN)
iShares Russell 3000 Index Fund (IWV)
iShares Russell 3000 Growth Index Fund (IWZ)
iShares Russell 3000 Value Index Fund (IWW)
iShares MSCI Australia Index Fund (EWA)
iShares MSCI Austria Index Fund (EWO)
iShares MSCI Canada Index Fund (EWC)
iShares MSCI EMU Index Fund (EZU)
iShares MSCI Germany Index Fund (EWG)
iShares MSCI Mexico Index Fund (EWW)
                                                         2006
----------------------------------------------------------------------
iShares Russell Midcap Index Fund (IWR)
iShares Russell Midcap Growth Index Fund (IWP)
iShares Russell Midcap Value Index Fund (IWS)
iShares Cohen & Steers Realty Majors Index Fund (ICF)
                                                         2007
----------------------------------------------------------------------
iShares COMEX Gold Trust (IAU)(a)

(a) An investor should consider investment objectives, risks,
charges and expenses of the iShares (R) COMEX Gold Trust carefully
before investing. To obtain a prospectus, which contains this and
other information, go to http://www.ishares.com/misc/prospectus.jhtml
or call 1-800-iShares. Please read the prospectus carefully before
investing. The iShares COMEX Gold Trust is not an investment company
registered under the Investment Company Act of 1940 or a commodity
pool for purposes of the Commodity Exchange Act

The sponsor of the iShares (R) COMEX Gold Trust ("Gold Trust") is
Barclays Global Investors, N.A., a national banking association
chartered in the United States and a wholly-owned subsidiary of
Barclays Bank PLC. Barclays Global Investors Services (member
NASD/SIPC), a subsidiary of Barclays Global Investors, N.A., assists
in the marketing of the Gold Trust.

There are risks involved with investing, including possible loss
of principal. Because shares of the iShares COMEX Gold Trust
("iShares") are expected to reflect the price of the gold held by the
Trust, the market price of the shares will be as unpredictable as the
price of gold has historically been.

The iShares Funds are not sponsored, endorsed, or issued by Goldman Sachs & Co. or Lehman Brothers, nor are they sponsored, endorsed, issued, sold or promoted by Cohen & Steers Capital Management, Inc., Dow Jones & Company, Inc., Morgan Stanley Capital International, Frank Russell Company, or Standard and Poor's. None of these companies make any representation regarding the advisability of investing in the Funds. Neither SEI nor BGI, nor any of their affiliates, are affiliated with the companies listed above. "GS $ InvesTop(TM)" and "Goldman Sachs(R)" are trademarks of Goldman, Sachs & Co. "Commodity Exchange, Inc." and "COMEX" are trademarks of Commodity Exchange, Inc. and have been licensed for use for certain purposes by Barclays Global Investors and the Trust. The iShares(R) COMEX Gold Trust is not sponsored, endorsed, sold or promoted by Commodity Exchange, Inc., nor does Commodity Exchange, Inc. make any representation regarding the advisability of investing in the Trust.