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BlackRock iShares Launches Single Country ETFs

BlackRock's iShares Exchange Traded Funds (ETFs) business has launched three new single country iShares ETFs.

iShares MSCI Ireland Capped Investable Market Index Fund (EIRL), iShares MSCI Indonesia Investable Market Index Fund (EIDO) and iShares MSCI USA Index Fund (EUSA) began trading on the NYSE Arca.

EIRL provides exposure and access to Ireland. The underlying index is a free-float adjusted market capitalization weighted index designed to measure the performance of the top 99% of equity securities listed on stock exchanges in Ireland. The top three sectors of the index (as of 3/31/10) are materials (25%), consumer staples( 23%) and industrials (18%).

EIDO provides exposure and access to the Indonesia. The underlying Index is a free-float adjusted market capitalization weighted index designed to measure the performance of equity securities in the top 99% by market capitalization of equity securities listed on stock exchanges in Indonesia. The top three sectors of the index (as of 3/31/10) are financials (29%), energy (13%) and telecom (13%).

EUSA broadens the existing suite of iShares US benchmarks. The underlying index is a market capitalization weighted index designed to measure the performance of equity securities in the top 85% by market capitalization of equity securities listed on stock exchanges in the US. The top three sectors of the index (as of 3/31/10) are technology (19%), financials (16%) and healthcare (12%).

Michael Latham, head of iShares in US at BlackRock, said: “Through the addition of these three iShares MSCI single country funds financial professionals, institutions and individuals will now have expanded access to a relatively liquid global market. The use of MSCI indices provide useful building blocks within the larger iShares MSCI-based international product set.”