SOURCE: Barclays Global Investors

Barclays Global Investors

June 19, 2009 19:43 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 Master Portfolio, and Barclays Global Investors, N.A. ("BGI") serves as the administrator for each series of Barclays Global Investors Funds (each, a "Fund") and each Master Portfolio in which the Funds invest. On June 16, 2009, Barclays PLC, the ultimate parent company of BGI and the Adviser, accepted a binding offer and entered into an agreement to sell its interests in the Adviser, BGI 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.

Under the Investment Company Act of 1940, as amended, completion of the BlackRock Transaction will cause the automatic termination of each Master Portfolio's current investment advisory agreement with the Adviser. In order for the investment management of each Master Portfolio and Fund to continue uninterrupted, the Board of Trustees of the Master Portfolios (the "Master Portfolios' Board") will be asked to approve a new investment advisory agreement for each Master Portfolio. If approved by the Master Portfolios' Board, the new investment advisory agreements will be submitted for approval by the investors in the Master Portfolios, including the Funds. Each Fund will in turn call a meeting of its shareholders at which shareholders will vote to instruct the Fund how to vote on the applicable Master Portfolio's new investment advisory agreement.

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 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 www.barclaysglobal.com.

© 2009 Barclays Global Investors, N.A. All rights reserved.