SOURCE: BlackRock, Inc.

BlackRock, Inc.

September 27, 2010 09:24 ET

iShares Announces Changes to Its Semiconductor ETF Including Changing to the PHLX Semiconductor Sector Index

SAN FRANCISCO, CA--(Marketwire - September 27, 2010) - BlackRock, Inc. (NYSE: BLK) today announced that the iShares Exchange Traded Funds (ETFs) business, the world's largest provider of ETFs, is changing the index, name, ticker and primary listing exchange of the iShares Semiconductor ETF. The changes will provide investors, for the first time, with an unlevered ETF that will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the PHLX Semiconductor Sector Index. The PHLX Semiconductor Sector Index is managed by NASDAQ OMX Group and known as the "SOX Index."

Fund shareholders are not required to take any action as a result of this announcement. The changes are effective October 15, 2010, and are generally summarized below.

  Current     New
Fund Name iShares S&P North American Technology-Semiconductors Index Fund     iShares PHLX SOX Semiconductor Sector Index Fund
Index S&P North American Technology-Semiconductors Index     PHLX Semiconductor Sector Index ("SOX")
Ticker IGW     SOXX
Index Names 52 (as of 8/31/10)     30 (as of 8/31/10)
Weighting Methodology Modified market cap     Modified market cap

"There has been increased investor interest in a SOX based ETF with the ongoing evolution of the Index, therefore we're pleased to provide investors with the iShares PHLX SOX Semiconductor Sector Index Fund that will track such a well-known sector index," said Noel Archard, Head of U.S. iShares Product at BlackRock. 

The PHLX Semiconductor Sector Index(SM) (SOX(SM)) is a modified capitalization-weighted index composed of companies primarily involved in the design, distribution, manufacture, and sale of semiconductors. PHLX is a wholly owned subsidiary of the NASDAQ OMX Group. 

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2010, BlackRock's AUM was $3.15 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 June 30, 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. In addition to the normal risks associated with investing, narrowly focused investments and securities focusing on a single country typically exhibit higher volatility. Technology companies may be subject to severe competition and product obsolescence.

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.

Nasdaq®, OMX®, NASDAQ OMX®, PHLX® and Philadelphia Exchange Semiconductor Index are registered trademarks, trade names or service marks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by BlackRock Institutional Trust Company, N.A. The iShares Funds have not been passed on by the Corporations as to their legality or suitability. The iShares Funds are not endorsed, issued sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE iSHARES FUNDS.

© 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.

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