Cboe Options on iShares MSCI EAFE® ETF (EFA) www.cboe.com/EFA

On September 25, 2002, the Cboe Options Exchange® (Cboe®) initiated trading of EFA options.

EFA Options are options on the iShares MSCI EAFE exchange traded fund, ticker, "EFA". The MSCI EAFE® Index (Europe, Australasia and the Far East) is recognized as the pre-eminent benchmark in the United States to measure international equity performance.

With EFA Options, you now have a highly versatile tool for trading this premier index. Bullish, bearish, and neutral investors all can use EFA options to reflect their opinions on the global market. Investors can trade these options for potential profit or protection, with opportunities to adjust for up, down or unchanging markets.

For more information on the MSCI EAFE Index, please see www.msci.com.

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MSCI, EAFE, iShares, BGI and the MSCI index names are service marks of Morgan Stanley Capital International Inc. ("MSCI"), its licensors or their affiliates (the "MSCI Parties") and have been licensed for use by the Cboe Options Exchange. Option contracts on any exchange-traded fund based on an MSCI index are not sponsored, guaranteed or endorsed by MSCI, the issuer of such fund or their affiliates. None of the MSCI Parties makes any representations regarding the advisability of investing in such option contracts. None of the MSCI Parties makes any warranty, express or implied, or bears any liability as to the results to be obtained by any person or any entity from any option contract. No purchaser, seller or holder of this security, or any other person or entity, should use or refer to any trade name, trademark or service mark relating thereto to sponsor, endorse, market or promote any other security without first contacting MSCI to determine whether MSCI's permission is required. For complete information about iShares, request a prospectus by calling 1-800-iSHARES (1-800-474-2737). iShares are distributed by SEI Investments Distribution Co. Barclays Global Fund Advisors serves as an advisor to iShares and is a subsidiary of Barclays Global Investors, N.A., (BGI) neither of which is affiliated with SEI. iShares� is a registered trademark of Barclays Global Investors, N.A. iShares are not FDIC insured, have no bank guarantee, and may lose value.