SOURCE: Barclays Global Investors

Barclays Global Investors

June 19, 2009 19:36 ET

Barclays Enters Into Agreement to Sell Barclays Global Fund Advisors to BlackRock, Inc.

SAN FRANCISCO, CA--(Marketwire - June 19, 2009) - Barclays Global Fund Advisors (the "Adviser") serves as the investment adviser for each iShares fund (each, a "Fund"). On June 16, 2009, Barclays PLC ("Barclays"), the ultimate parent company of the Advisor, accepted a binding offer and entered into an agreement to sell its interests in the Adviser and certain affiliated companies to BlackRock, Inc. (the "BlackRock Transaction"). The BlackRock Transaction is subject to certain regulatory approvals, as well as other conditions to closing. The previously announced agreement, providing for the sale by Barclays of its interests in the Adviser and certain affiliated companies to a holding company of CVC Capital Partners Group SICAV-FIS S.A. was terminated in connection with the BlackRock Transaction.

Under the Investment Company Act of 1940, as amended, completion of the BlackRock Transaction will cause the automatic termination of each Fund's current investment advisory agreement with the Adviser. In order for the management of each Fund to continue uninterrupted, each Fund's Board of Directors or Trustees (the "Board") will be asked to approve a new investment advisory agreement. If approved by the Board, the new investment advisory agreement will be submitted to the shareholders of each Fund for their approval.

About Barclays Global Investors

Barclays Global Investors is one of the world's largest asset managers and a leading global provider of investment management products and services with more than 3,000 institutional clients and approximately $1.5 trillion of assets under management as of December 31, 2008. BGI transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979.

The iShares Funds ("Funds") are distributed by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors is a subsidiary of Barclays Global Investors, N.A., a majority-owned subsidiary of Barclays Bank PLC, none of which is affiliated with SEI. BlackRock, Inc. is not affiliated with SEI.

For further information about Barclays Global Investors, please visit our website © 2009 Barclays Global Investors, N.A. All rights reserved.