iShares Privacy Statement

iShares Privacy Policy

Effective date: February 28, 2006

Introduction

This Privacy Policy applies to information that visitors transmit to iShares through this iShares website (the "Site").

iShares is committed to your privacy. This Privacy Policy is designed to inform you of what information we collect from you on this Site and how we and our affiliates handle that information.

To put it simply: We will not sell non-public, personal information we collect about you on this Site to anyone. We will store the information using generally accepted encryption and data-storage technology. And we will give you the ability to opt out of our using the information to send you separate online marketing and advertising.

Please direct any questions to isharesetfs@blackrock.com or call 1-800-iShares.

U.S. Only

This Privacy Policy explains the Site's processing and storage practices in the United States for personal information transmitted through the Site. Visitors subject to the jurisdiction of other countries must not submit information through this Site, and by doing so waive any and all liability iShares or BlackRock Institutional Trust Company, N.A. and its affiliates ("BlackRock") may have to them in connection with such information. By browsing the Site and communicating electronically with us, Site visitors acknowledge that we are processing and storing their personal information in the United States under U.S. privacy standards.

What We Collect and When

Personally Identifiable Information
When you register with the Site we collect your name, company address, email address, telephone number, and additional contact information. We also ask whether you are an individual or a financial professional and for related information. We collect a web site username and password.

When you send email through the site, we collect your screen name and email address, as well as any additional information you include in the message.

When you're navigating the Site we record your IP address.

We consider each of the above pieces of information to be "Personally Identifiable Information" because it is individually identifiable information about you.

Other Information Associable with You
When you answer our online surveys we collect your responses.

When you're navigating the Site we log various information to help manage and improve our Site, services, and marketing, in general and for you in particular. For example, we identify items such as domains and browser types to understand how our Site is used and to report these statistics in the aggregate to the vendors that manage the technology of our website. We also record any information you enter, such as search terms and input to the tools such as hypothetical portfolio information.

Cookies, etc.
Like many websites, we use cookies, 1x1-pixel images (Action Tags), JavaScript code, and other standard web technology to collect information for our own use.

A cookie is a small data file that we transfer to your computer's hard disk for record-keeping purposes. You can instruct your browser, by editing its options, to stop accepting cookies or to prompt you before accepting a cookie and to permit you to refuse it. In most cases you can refuse a cookie and still navigate our site, though it may disable some features. Check with the maker of your browser for more information about how to control cookies.

Cookies make it easier for you to register on and use the site. They also allow us to offer opt-in and opt-out opportunities, follow your navigation through the site and customize it to your interests, and remember your investor category and preferences so we can display content appropriate for you and your interests.

These technologies also help manage our online marketing. Third party publishers, who host websites where we advertise, use (and are contractually obligated to disclose their use of) 1x1-pixel transparent GIF files (Action Tags) on their own and other third party websites. These GIF files are provided by our ad management partner. These files enable our ad management partner to recognize a unique cookie on your web browser, which in turn enables us to learn which advertisements bring users to our website. The cookie was placed by us or by our ad serving partner. Our ad management partner uses the first three octets of your IP address in conjunction with these technologies but does not collect personally identifying information (PII), including your name, address, telephone number, or email address. Please contact us at the email or phone number below for more information about our ad management partner, including information about how to opt out of these technologies.

Although we contract with third parties to manage the use of these technologies, the information is only used to help manage our own marketing materials and our own websites. The third parties are obligated by contract to keep the information confidential and are prohibited from using it for any other purpose.

How We Use Your Personally Identifiable Information

We use your personally identifiable information (and at times other information we collect) to authenticate your visits; to send you our newsletter and product fact sheets; so you can participate in conferences or events; so we can respond to email inquiries and questions to our call center; and to help us better market and provide our and our affiliates' products and services. We also use the information to manage and improve our Site content and notify you about changes or improvements to our Site.

Unless you have opted out of receiving marketing information, we use your personal information to customize and deliver that information to you.

We also enhance or merge personal information with data from third parties in order to better market our products and services and serve your needs.

We use the search terms you enter to help us refine our search functionality and to improve how we appear on external search engines such as Google and Yahoo!.

Limited Disclosure of Your Personal Information to Third Parties

We do share non-public, personally identifiable information with our affiliates. We only disclose non-public, personally identifiable information to unaffiliated third parties as follows.

To advertising and marketing agencies to help sell and market our own products and services. To technology and other service providers (such as those that provide portfolio tools) to provide technology and services to us. To vendors that help us fulfill requests to deliver product information, publications, or reference materials or that facilitate use of third party tools provided by or through our Site.

The above unaffiliated third parties are all contractually obligated to keep the information confidential and to not use the information for any purpose other than providing services to us and to you under our direction.

We also disclose such information as permitted or required by law or as required by subpoena, search warrant or other legal process.

As our business evolves, we may sell, transfer, or otherwise share some or all of our assets, including information provided by you, in connection with a merger, reorganization, or sale of some or all of our assets, or in the event of bankruptcy. In any such event, personally identifiable and other information may be one of the assets transferred.

Choice

Choosing NOT to disclose personal information
You are not required to register to gain access to many areas of the Site. In order to use all of the site's services, however, we require registration for a username and password for authentication and for secure access to personalized Site information or services.

Opting out
You can opt out of our using non-public, personally identifiable information we collect on the Site to send you separate online marketing and advertising materials by updating your Profile (see below), contacting us at the below phone number or email, or clicking on an "unsubscribe" link in our marketing emails.

Reviewing your information and requesting changes to your Profile
You should identify and correct any inaccuracies in the information you submit. To update information previously submitted, please sign in and click on the "My Profile" link located at the top of every web page. Please direct inquiries about the accuracy of information previously submitted through the Site, or requests to update information, to: isharesetfs@blackrock.com or call 1-800-iShares. iShares will not be responsible for outdated information or for verifying personal information.

More on Privacy

Children's online privacy protection
iShares understands the importance of protecting children's privacy, especially in an online environment. The Site is not designed for or directed at children. It is our policy not to knowingly collect or maintain information about anyone under the age of 13.

Links to third party sites
The Site contains links to third party websites. We assume no responsibility for the information practices of those websites. We encourage visitors to review each site's privacy policy before disclosing any personal information on that site.

Phishing
We do not and will not, at any time, request personal information in a non-secure or unsolicited email or telephone communication. Identity theft and the practice currently known as "phishing" are of great concern to us. Safeguarding information to help protect you from identity theft is our priority. For more information about phishing, visit the Federal Trade Commission at http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt127.htm.

Security
The Site uses generally accepted standards of technology and operational security to protect personal information. Personal information received through the Site is encrypted.

Changes to this Policy
This Privacy Policy may be updated from time to time as our services change and grow. We will indicate any such changes at the privacy link at the bottom of our home page, and your continued use of the Site will signify your acknowledgement of any new terms. The most current version of the Privacy Policy can be found by visiting the privacy link at http://www.iShares.com.

Contact

We welcome inquiries or comments about our Privacy Policy and any queries or concerns about iShares at isharesetfs@blackrock.com or 1-800-iShares.