Barclays Global Investors has hired Morgan Stanley alum Deborah Fuhr for the new post of head of global ETF research and implementation strategy. A noted ETF analyst, Fuhr, who will also be a managing director at BGI, will join the firm on September 15 and report to Rory Tobin, CEO of iShares Europe.

Fuhr spent the past 11 years at Morgan Stanley focusing on the ETF market. She left the company in May. A Morgan Stanley spokesman said Paul Mazilli covers ETF research for the firm.

Fuhr will be based in London, heading up BGI's newly created ETF research and implementation strategy team that will produce analysis on the global ETF industry.

Company Press Release

London and San Francisco, 8 September 2008 -- Barclays Global Investors, one of the world�s largest asset managers and the leading global provider of Exchange Traded Fund products, has announced the appointment of Deborah Fuhr as Global Head of ETF Research and Implementation Strategy.

Ms Fuhr, who will also be a Managing Director, is widely recognised as the leading research analyst covering the ETF market worldwide. She joins BGI from Morgan Stanley, where she spent the past 11 years focused on the ETF market.

Under Ms Fuhr�s guidance, BGI�s newly created ETF Research and Implementation Strategy team will be responsible for producing industry-leading analysis on the global ETF industry. In addition, the team will provide comprehensive research reports to BGI�s wide range of institutional and intermediary-based clients concerning developing asset allocation strategies using ETFs.

Ms Fuhr�s appointment is effective from 15th September 2008, and she will be based in BGI�s London offices. However, she will spend a significant portion of her time working with BGI�s extensive client base in Europe and North America, as well as in BGI�s rapidly developing markets such as Australasia, Latin America and the Middle East.

Commenting on the appointment, Blake Grossman, Chief Executive Officer of BGI said: "We are thrilled Deborah will be joining BGI to become a senior member of our ETF leadership team. She has been an industry pioneer in ETF research, and her innovative approach to market and portfolio analysis will help further extend the industry-leading position we have established through BGI's iShares platform."

Lee Kranefuss, Global CEO of iShares at BGI added: "Deborah joins at a very exciting time for the ETF industry, as it expands into rapidly growing new markets around the world. She has built up a stellar reputation worldwide as the leading ETF analyst, with more than a decade of experience providing clients with highly regarded analysis and advice. Her depth of knowledge will add an extremely useful new dimension to our client offerings."

Deborah Fuhr added: "I am delighted to be joining one of the world's leading asset managers and the strongest company in the ETF industry today. BGI has a market leading position based on its reputation for innovation and high quality products that meet the rapidly changing investment needs of institutional and intermediary-based clients around the world. That reputation makes BGI a natural home for the analysis and research that I intend to produce."

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 2,900 institutional clients and in excess of $2.0 trillion of assets under management as of December 31, 2007. BGI 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� exchange traded funds) with over 320 funds for institutions and individuals globally.

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