Source: * US$ figure was derived using the US$/£ exchange rate at 12.31.07 of US$2.00/£1

Issued by Barclays Bank PLC, authorized and regulated by the Financial Services Authority and a member of the London Stock Exchange. Barclays Capital is the investment banking division of Barclays Bank PLC, which undertakes US securities business in the name of its wholly - owned subsidiary Barclays Capital Inc., a FINRA and SIPC member. © 2008 Barclays Bank PLC. All rights reserved. Barclays Capital is a registered trademark of Barclays Bank PLC.

Source: *BGI Forbes, Sept 1979; Journal of Portfolio Management, 1980.
Source: **BGI 12/31/07.

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: *Morgan Stanley Global Review, as of YE 2007.

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. BGFA is a subsidiary 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.