Fund Description: iShares India 50 ETF, formerly iShares S&P India Nifty 50 Index Fund, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the iShares Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The iShares India 50 ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P CNX Nifty Index. INDEX DESCRIPTION: The S&P CNX Nifty Index measures the equity performance of the top 50 companies by market capitalization that trade in the Indian market. As of May 31, 2010, the Index's top three sectors were banks, computer-software and refineries. The Index is sponsored by the Index Provider, India Index Services & Products Ltd (IISL), that is independent of the Fund. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. FUND STRATEGY: A passive or indexing approach is used to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to beat the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies. The Fund will generally invest at least 80% of its assets in the securities of its Index or in depositary receipts representing securities in the Index. The Fund may invest the remainder of its assets in securities not included in its Index, which is believed will help the Fund track its Index. The Fund also may invest its other assets in futures contracts, options on futures contracts, options, and swaps related to its Index, as well as cash and cash equivalents, including shares of money market funds. A representative sampling is an indexing strategy that is used and involves investing in a representative sample of securities that collectively has an investment profile similar to the Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability, duration, maturity or credit ratings and yield) and liquidity measures similar to those of the Index. The Fund may or may not hold all of the securities in the Index. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.