BlackRock Canada Announces Management Fee Changes for Certain iShares Funds

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2012) - BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect, wholly owned subsidiary of BlackRock, Inc. (BLK), today announced that it will be changing the management fees for the iShares S&P 500 Index Fund (CAD-Hedged) (XSP) and the iShares MSCI All World Index Fund (XWD) (the Funds) as a result of the fee change announced earlier by BlackRock, Inc., to its iShares S&P 500 Index Fund (IVV), the underlying fund in which the Funds invest.

Effective October 17, 2012, the annual management fee payable by XSP will be reduced to a level of up to 0.22% of net asset value and the annual management fee for XWD will be reduced to 0.44% of net asset value.

"As iShares looks to build on its market-leading position in the ETF industry, we continue to enhance the value proposition that iShares delivers to investors globally," says Mary Anne Wiley, Managing Director, Head of iShares, BlackRock Canada. "Our ability to pass along this change to Canadian investors is just another example of the benefits we can achieve through the global scale of our business."

iShares is the global leader in ETFs in assets and flows and has attracted more than $50 billion in net new assets year to date, as of September 30, 2012 - more than any other provider worldwide.

The XSP management fee is the sum of (i) an annual fee of 0.15% paid by XSP to BlackRock Canada and (ii) an annual fee of up to 0.07% paid to an affiliate of BlackRock Canada by IVV, the fund in which XSP invests. This underlying management fee fluctuates based on the net asset value of IVV and is paid indirectly by XSP. The management fee payable by XWD to BlackRock Canada is set at a level that is adjusted to ensure that the total annual fees paid directly or indirectly to BlackRock Canada and its affiliates do not exceed 0.44% of the net asset value of XWD. An affiliate of BlackRock Canada is entitled to receive a fee for acting as manager of IVV, the fund in which in which XWD invests. As this underlying product fee is embedded in the market value of IVV, this fee is indirectly paid by XWD.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2012, BlackRock's AUM was US $3.560 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2012, BlackRock has approximately 9,900 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit BlackRock's website at www.blackrock.com.

About iShares^® ETFs

iShares is the global product leader in exchange traded funds with over 500 funds globally across equities, fixed income and commodities, which trade on 20 exchanges worldwide. The iShares Funds are bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals.

iShares^® Funds are managed by BlackRock Asset Management Canada Limited and BlackRock Investments Canada Inc. Commissions, management fees and expenses all may be associated with investing in iShares Funds. Please read the relevant prospectus before investing. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.