Change in Redemption Deadline

RNS Number:4996R
European Exchange Traded Fnd Co PLC
30 October 2003


For immediate release
30 October 2003


           EUROPEAN EXCHANGE-TRADED FUND COMPANY PLC (the "Company")
                            iShares DJ STOXX 50 and
                iShares DJ EURO STOXX 50  (together the "Funds")


The Directors of the Company wish to announce the following changes to the
Funds, subject to regulatory approval: -

Change in the Redemption Deadline for Shares

At present the Company's prospectus states that the settlement cycle for
redemption of shares in the Funds is three days following the relevant Dealing
Day.

As and from 17 November 2003, the standard settlement period for the redemption
of shares in the Funds will be four business days following the relevant Dealing
Day.

In the event that the applicant fails to deliver one or more of the investments
in the Portfolio Composition File (PCF) to the Company by the designated time,
the Company may require the applicant to pay to it a sum equal to the value of
such investments at the Valuation Point on the relevant Dealing Day, plus any
expenses incurred by the Company in acquiring those investments, plus an
administration fee of 1%. The Company has the right to sell or redeem all or
part of the applicant's holding of shares in order to meet these charges.

Change in definition of Dealing Day

At present Irish Bank Holidays are not deemed to be business days. On such days
the Funds are closed for Primary Market orders and no PCF is produced.

As and from 17 November 2003, Irish Bank Holidays will be business days and Bank
Holidays in England will be non-business days. On UK Bank Holidays therefore,
the Funds will be closed for Primary Market orders, and will not be priced or
traded in the secondary market in London. Secondary market trading may continue
in other markets where the Funds are listed.

Change in frequency of Dividend Distributions

As and from 17 November 2003, the Funds will move from a cycle of semi-annual
distributions to quarterly distributions so that dividends on shares will
normally be declared with a view to their being paid in March, June, September
and December of each year.  Dividends are currently paid in May and November.

Definitions in this announcement have the same meaning as in the Prospectus.

Subject to regulatory approval, the updated Prospectus reflecting these changes
will be available from 17 November 2003 on www.ishares.net, or on request by
calling one of the following numbers:

Dutch Investors                           0800 0233 466
French Investors                        [phone]
German Investors                          0800 474 2737
Italian Investors                       [phone]
Swiss Investors                         [phone]
UK Investors                              0845 357 7000


                      This information is provided by RNS
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