THE AMERICAN STOCK EXCHANGE LAUNCHES TRADING IN THREE NEW ETFs
New iShares based on Goldman Sachs Technology Industry (GSTI) Indexes

Friday, July 13, 2001

New York -- The American Stock Exchange® (Amex®), the leader and pioneer in exchange-traded funds (ETFs), in conjunction with Barclays Global Investors, N.A., the largest manager of indexed products in the world, announced trading today of three new iShares based on three Goldman Sachs Technology Industry (GSTI) indexes. Trading will be launched in the following funds:

  • iShares Goldman Sachs Networking Index Fund (Symbol: IGN)
  • iShares Goldman Sachs Software Index Fund (Symbol: IGV)
  • iShares Goldman Sachs Semiconductor Index Fund (Symbol: IGW)

A critical mass of ETF products are listed and trade at the Amex—among them 62 iShares—bringing the total number of products to 103.

iShares are the exchange traded funds managed by Barclays Global Fund Advisors, a subsidiary of Barclays Global Fund Investors, N.A., the largest manager of indexed products in the world which manages more than $800 billion in assets for institutions and individual investors across the globe. Provider of the indexes is The Goldman Sachs Group, Inc., a leading global investment banking and securities firm with 44 offices in more than 20 countries.

"We’re pleased to work with an industry leader like Barclays to bring three new iShares to the marketplace. As a flexible and cost-effective investment option for investors to gain exposure to different markets and sectors, iShares continue to grow in popularity. With the addition of the three new iShares based on the Goldman Sachs Technology Industry, the Amex is proud to expand its iShares listing to 62," said Salvatore Sodano, Amex Chairman and CEO.

"iShares make it simple for investors to get the specific equity exposure they need, whether it be broad or narrow coverage," said Lee Kranefuss, CEO of BGI’s Individual Investor Business. "With the new iShares Goldman Sachs technology sector funds, investors can get precise technology exposure in a cost-effective manner through a single brokerage transaction."

The GSTI Networking Index, introduced in April 1996, was developed by Goldman Sachs as an equity benchmark for networking stocks. The Index includes companies that are producers of telecom equipment, data networking and wireless equipment.

The GSTI Software Index, introduced in April 1996, was developed by Goldman Sachs as an equity benchmark for U.S.-traded software-related stocks. The Index is comprised of companies that are producers of client/server, enterprise software, Internet software, PC and entertainment software.

The GSTI Semiconductor Index, again introduced in April 1996 , was developed by Goldman Sachs as an equity benchmark for U.S.-traded semiconductor stocks. The Index includes companies that are producers of capital equipment or manufacturers of wafers and chils.

The Amex pioneered the concept of ETFs in 1993 with the introduction of trading in SPDRs® -- Standard & Poor's Depositary Receipts®, an exchange-traded unit investment trust based on the Standard & Poor's 500 Index®. There are now 103 ETF products trading on the Amex, with assets currently totaling more than $80 billion. Each year since 1993, both total assets and trading volume of Amex-listed ETFs have doubled.

The American Stock Exchange®, a subsidiary of the National Association of Securities Dealers, Inc. NASD®, is the only primary exchange that offers trading across a full range of equities, Exchange Traded Funds (ETFs), including structured products and HOLDRSsm, and options. In addition to its role as a national equities market, the Amex is the leader in ETF listings, listing 103 ETFs to date, and is the second-largest options exchange in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, visit www.amex.com.

For more complete information and prospectuses, including charges, expenses and potential risks, on Select Sector SPDRs*, SPDRs* and streetTRACKSsm, call 1-800-THE –AMEX or visit www.amex.com. Read a prospectus carefully before you invest.

ALPS Distributors, Inc., a registered broker-dealer, is distributor for the SPDR Trust, a unit investment trust, and the Select Sector SPDR Trust, an index fund. State Street Brokerage, a division of State Street Capital Markets, LLC, is distributor for streetTRACKS, an index fund. These products are not sponsored, endorsed, sold or promoted by the licensors of the foregoing trademarks and service marks.

Exchange-Traded Funds are subject to risks similar to those of stocks. Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Sector funds may bear a higher level of risk than more broadly diversified funds. Investments in foreign investments may incur unique and greater risks than domestic investments. Past performance is no guarantee of future results.

For complete details regarding rights relating to HOLDRS and rights relating to the HOLDRS underlying securities, please refer to the prospectus. This is not an offer to sell HOLDRS and we are not soliciting offers to buy HOLDRS in any state where such offer or sale is not permitted. "HOLDRS’ and "HOLding Company Depositary ReceiptS" are service marks of Merrill Lynch & Co., Inc.

"GSTI", "GSTI Composite Index", "Goldman Sachs Technology Index", "GSSI" and "Goldman Sachs Sector Indices" are trademarks of Goldman, Sachs & Co. and have been licensed for use by Barclays Global Fund Advisors for use in connection with iShares. iShares are not sponsored, endorsed, sold or promoted by Goldman, Sachs & Co. Neither Goldman, Sachs & Co. nor any of its affiliates make any representation regarding the advisability of investing in iShares. Goldman, Sachs & Co. is not affiliated with SEI, BGI N.A. or its affiliates.

Media Contact:
Lynn Teresky
Amex
(212) 306-1654