How does currency impact returns?
All ASX-listed iShares funds are unhedged. Therefore for an Australian investor, who invests in an iShares fund, there are three distinct determinants of performance returns:
(1) the movement in prices of the underlying securities as managed by BGFA;
(2) fluctuations in the A$ rate of foreign exchange conversion with the currency (or currencies) of the underlying basket of securities; and
(3) fluctuations in the A$ / US$ rate of foreign exchange conversion on cash amounts while the fund is processing any distributions payable.

Fund Performance - Additional Information
The performance figures represents past performance of the fund. Performance figures for the fund shown are provided in US dollars by the administrator of the iShares fund after management fees and expenses, and assume reinvestment of distributions. Performance returns are in Australian dollars where stated so. Investment return and principal value of an investment will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than the original cost. An iShares fund is not actively managed. You cannot invest directly in an index. Current performance may be higher or lower than the performance shown.

Before investing in an iShares fund, you should carefully consider the appropriateness of such products to your circumstances, read the applicable Australian prospectus and consult an investment adviser.

This information has been prepared by Barclays Global Investors Australia Limited ABN 33 001 804 566, AFSL 225 398 ("BGIA"). BGIA is the local agent and intermediary for iShares (iShares, Inc. ARBN 125 632 279, iShares Trust ARBN 125 632 411).

This information relates to certain iShares funds quoted on the Australian Securities Exchange ("ASX"). ASX takes no responsibility for the content in this website or any decision to invest in the funds. The admission by ASX of iShares is not an endorsement by ASX of iShares or the quoted shares in an iShares fund. Trades on ASX in the shares of an iShares fund are settled using CHESS Depositary Interests (or "CDIs").

Barclays Global Fund Advisors (BGFA) serves as an adviser to the iShares funds that are registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940. BGFA is a subsidiary of Barclays Global Investors, N.A. ("BGINA"). BGIA and BGINA are majority-owned subsidiaries of Barclays Bank PLC.

An investment in an iShares fund involves investing in international markets. In addition to the normal risks associated with investing, international investments may involve the risk of losing all or part of any capital from unfavourable fluctuations in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. An investment in emerging markets and single countries may also involve heightened other risks such as increased volatility and the possibility of lower trading volume.

Past performance is not a reliable indicator of future performance.

Shares of an iShares fund trade on an exchange at market price (not net asset value ("NAV")). Shares may only be redeemed directly from an iShares fund by persons or entities in the United States called 'Authorised Participants' in very large creation/redemption units.

Transaction costs are incurred when buying or selling shares of an iShares fund on ASX, and brokerage commissions if such trades are done through a broker.

The performance of an iShares fund is not guaranteed by any foreign or Australian regulatory or depositary institution, or any Barclays entity.

This information is general in nature. You should seek independent professional legal, financial, taxation, and/or other professional advice before making an investment decision regarding the iShares funds.

"MSCI" and the "MSCI Index" are trademarks and servicemarks of MSCI Inc. "S&P" and "Standard & Poor's" are trademarks of Standard & Poor's. The "Russell Index" is a trademark of Frank Russell Company. "FTSE" is a trademark and servicemark of the London Stock Exchange and The Financial Times Limited; "Xinhua" is trademark and servicemark of Xinhua Financial Network Limited, both of which have been licensed for use by FTSE/Xinhua Index Limited. The iShares funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., Morningstar Inc., Standard & Poor's, FTSE, or Frank Russell Company. None of these companies make any representation regarding the advisability of investing in the iShares funds.

©2009 Barclays Global Investors Australia Limited. All rights reserved. iShares® is a registered trademark of Barclays Global Investors, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.

More information on the iShares product range can be obtained by visiting www.ishares.com.au or through an investment adviser.