Barclays Global Investors Announces the Trading of Three New International iShares Exchange Traded Funds

Barclays Global Investors (BGI) announced today the launch of three new iShares international exchange traded funds (ETFs) that provide exposure to developed small cap, the global infrastructure sector, and developed markets outside of Japan. The new funds are trading on the NYSE Arca. With this launch, the iShares fund family includes the most international ETFs with 55 international iShares funds out of the 149 total iShares funds listed in the U.S.

                                                  Total Annual
Fund Name                            Ticker      Expense Ratio
                                 --------------- --------------
iShares MSCI EAFE Small Cap
 Index Fund                                  SCZ           0.40%
                                 --------------- --------------
iShares MSCI Kokusai
 Index Fund                                  TOK           0.25%
                                 --------------- --------------
iShares S&P Global
 Infrastructure Index Fund                   IGF           0.48%
                                 --------------- --------------

"As the first manager of international ETFs and largest manager of international equity institutional assets(1), we've seen that there is greater acceptance of diversifying portfolios with international exposure and a resulting growing interest in having more choices in international investment products," said Noel Archard, Head of U.S. iShares Product Development for BGI.

"The iShares MSCI EAFE Small Cap Index Fund offers investors an attractive alternative for portfolio diversification as large-cap markets become increasingly correlated globally. We are also seeing continued focus on infrastructure improvements around the world, and the iShares S&P Global Infrastructure Index Fund provides easy access with diversification across multiple sectors of the global markets. The iShares MSCI Kokusai Index Fund offers efficient exposure to developed markets for investors who already have sufficient exposure to the Japanese equities market."

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(2) providing structured investment strategies such as risk-controlled active strategies and indexing. In the U.S., BGI is one of the largest active managers(3), set apart by its risk-controlled approach. BGI manages 65% of the world's 100 largest pension plans(4) and is a leader in assets and products in exchange traded funds (ETFs) through its iShares® brand with more than 290 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. Investments in smaller companies typically exhibit higher volatility.

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.

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc. or Standard and Poor's. Neither 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.

©2007 Barclays Global Investors, N.A. 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 2007.

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

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