Barclays Global Investors (BGI) has launched five iShares Funds designed to track the FTSE NAREIT Indexes on the NYSE Arca. With an annual expense ratio of 0.48%, the new iShares Funds provide targeted exposure to the US Real Estate Investment Trust (REIT) market.

The new funds are:
iShares FTSE NAREIT Residential Index Fund (ticker: REZ)
iShares FTSE NAREIT Industrial/Office Index Fund (ticker: FIO)
iShares FTSE NAREIT Retail Index Fund (ticker: RTL)
iShares FTSE NAREIT Mortgage REITs Index Fund (ticker: REM)
iShares FTSE NAREIT Real Estate 50 Index Fund (ticker: FTY)

"BGI continues to demonstrate its commitment to providing investors with all the necessary tools via an exchange traded product that are useful for many investors and their financial advisors as they construct a complete asset allocation plan," said Noel Archard, Head of iShares Product Development. "REIT exposure generally offers several useful portfolio attributes, such as lower correlation to the broad equity and bond markets along with higher dividend yield. The iShares FTSE NAREIT Funds should provide investors with income and portfolio diversification benefits, in a cost-effective manner."

The FTSE NAREIT US Real Estate Indexes (FTSE NAREIT Indexes) are primarily rule-based, but are also monitored by the FTSE NAREIT Index Advisory Committee. All tax-qualified REITs that are listed on the NYSE, the American Stock Exchange ("AMEX") or the NASDAQ are eligible for inclusion in the FTSE NAREIT Indexes. Potential constituents for the FTSE NAREIT Residential Index, the FTSE NAREIT Industrial/Office Index, the FTSE NAREIT Retail Index, and the FTSE NAREIT Mortgage REITs Index are determined by sector classifications of constituents in the FTSE NAREIT Composite Index. The FTSE NAREIT Real Estate 50 Index measures the performance of the large-cap real estate sector of the US equity market and is comprised of the 50 largest REIT companies within the FTSE NAREIT Composite Index.

The iShares Funds are index funds that 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.

BGI is one of the world's largest asset managers and a leading global provider of investment management products and services. It has over 2,900 institutional clients and over USD1.8 trillion of assets under management as of 12/31/06. It transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979. BGI is the global product leader in exchange traded funds (iShares) with over 190 funds for institutions and individuals trading in fifteen markets. Globally, BGI and its affiliates have approximately USD 287 billion of iShares assets under management. BGI is a majority-owned subsidiary of Barclays Bank PLC.