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Barclays Global Investors Announces Launch of iShares S&P World Ex-U.S. Property Index Fund

Barclays Global Investors (BGI) announced today that the iShares S&P World ex-U.S. Property Index Fund (NYSE: WPS) began trading on the NYSE. The new iShares ETF, with an annual expense ratio of 0.48%, is the first international REIT iShares ETF to complement the seven U.S. real estate iShares Funds.

BGI is the largest institutional REIT manager in the U.S.(1) and is extending its expertise to individual investors and financial advisors through the iShares Funds. The iShares Funds family offers the largest number of real estate ETFs to U.S. investors, providing broad and specific sub-sector exposures.

"The iShares S&P World ex-U.S. Property Index Fund meets several important needs of investors -- accessing a market with a cost effective, tradable investment vehicle and diversification beyond what U.S. real estate can provide," said Noel Archard, Head of U.S. iShares Product Development. "Many U.S. investors have trouble investing in the non-U.S. real estate market due to high costs, lack of liquidity and ways to access it. As more REIT and REIT-like structures are created outside of the U.S., BGI expects more individual investors and financial advisors to consider international real estate as an investment."

As of June 30, 2007, iShares has introduced 17 new iShares Funds and is the leader in capturing the most net flow of U.S. listed ETFs this year, gathering $22 billion of the $32 billion in ETF net flows.(2) The iShares Funds are index funds that are 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 relative 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.

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 U.S., 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 a leader in assets and products in exchange traded funds (ETFs) through its iShares® brand with more than 190 ETFs globally. The firm managed over $2 trillion in assets as of 6/30/07, for more than 2,900 clients in 52 countries around the world. BGI is a majority-owned subsidiary of Barclays Bank PLC.

There are risks involved with investing, including possible loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Narrowly focused investments typically exhibit higher volatility. REIT investments are subject to changes in economic conditions, credit risk and interest rate fluctuations. International real estate is subject to the status of its local economy.

The iShares Funds ("Funds") are distributed 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.

© 2007 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: Pensions & Investments, May 2006.

(2) Source: BGI, FRC, Bloomberg, June 30, 2007.

(3) Source: "P&I/Watson Wyatt World 500," Pensions & Investments, September 4, 2006.

(4) Source: "Special Reports: Money Manager Directory," Pensions & Investments, May 29, 2006.

(5) Source: "P&I/Watson Wyatt World 300: Largest Pension Funds," Pensions & Investments, September 18, 2006.