SOURCE: BlackRock, Inc.

BlackRock, Inc.

May 03, 2010 14:30 ET

BlackRock Announces Changes to Membership of U.S. iShares Exchange Traded Funds Boards

SAN FRANCISCO, CA--(Marketwire - May 3, 2010) -  BlackRock, Inc. (NYSE: BLK) today announced the election of George Parker, Ph.D., Dean Witter Distinguished Professor of Finance, Emeritus, at Stanford University: Graduate School of Business, to replace Lee Kranefuss as the Chairman of the Board of Trustees of iShares Trust and the Board of Directors of iShares, Inc. effective April 30th. Dr. Parker has served as Lead Independent Trustee/Director of iShares Trust and iShares, Inc. since 2006 and as a Trustee/Director on each Board since 2000. Mr. Kranefuss has served as an interested Trustee/Director and Chairman of each Board since 2003.

In addition, the Boards elected Robert Kapito, President of BlackRock, and Michael Latham, Managing Director at BlackRock and Head of U.S. iShares, to join each Board. Mr. Latham has served as President of iShares Trust and iShares, Inc. since 2007.

"We are delighted to have George as Chairman and welcome Rob as a member of the Board as we look forward to their substantial contributions in guiding the iShares business in the years ahead," said Mr. Latham. "We also sincerely thank Lee for his remarkable contributions and dedication in helping advance the iShares business to its leading industry position with over $500 billion in global assets under management1 in ten short years. Lee recognized early the prospects of ETFs and was instrumental in the growth of a business that has changed, and continues to change, the way individuals invest."

"It has been a wonderful experience helping build iShares and serving our investors," said Mr. Kranefuss. "I have enjoyed working with the new leadership to help them to continue to be well-positioned advocates for iShares ETFs as a mainstream investment for many investors. I look forward to seeing new iShares successes in the next ten years and beyond."

1 Source: BlackRock, ETF Landscape, March 31, 2010.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2010, BlackRock's AUM was $3.364 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® exchange traded funds, and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of March 31, 2010, the firm has approximately 8,500 employees in 24 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at

About iShares

iShares is the global product leader in exchange traded funds with over 430 funds globally across equities, fixed income and commodities, which trade on 16 exchanges worldwide. The iShares Funds 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. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals.

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 (1-800-474-2737) or by visiting Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. Transactions in shares of the iShares Funds will result in brokerage commissions and will generate tax consequences. iShares Funds are obliged to distribute portfolio gains to shareholders. Shares of the iShares Funds may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units.

The iShares Funds ("Funds") are distributed by SEI Investments Distribution Co. ("SEI"). BlackRock Fund Advisors ("BFA") serves as the investment advisor to the Funds. BlackRock Fund Distribution Company ("BFDC") assists in the marketing of the Funds. BFA and BFDC are affiliates of BlackRock, Inc., none of which is affiliated with SEI.

©2010 BlackRock Institutional Trust Company, N.A. iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.

* Not FDIC Insured * No Bank Guarantee * May Lose Value