Barclays Global Investors Appoints New COO of Japan.

Business Editors

SAN FRANCISCO & LONDON--(BUSINESS WIRE)--April 22, 2004

Barclays Global Investors (BGI), one of the world's largest asset managers, today announced that David Semaya has been appointed Representative Director and Chief Operating Officer of Barclays Global Investors

Japan Limited, a new position at the firm. Mr. Semaya joins BGI during a period of solid growth, as assets under management in Japan have doubled in three years to US $80 billion. Semaya will report to Rich Ricci, Global Chief Operating Officer for BGI, as well as local reporting to Kaz Okamoto, Chief Executive Officer of BGI Japan.

"David's proven leadership and international perspective are a great fit for BGI globally," said Andrew Skirton, Global Co-CEO of Barclays Global Investors. "He is a veteran who brings expertise across all areas of the asset management business and is a great addition to the strong team we have in Japan."

Mr. Semaya was previously President and Representative Director of Merrill Lynch Investment Managers Co., Ltd. Japan, where he was the senior executive responsible for all of Merrill Lynch's asset management activities in the region.

"David is known as a leading figure in asset management in Japan, and we are pleased he has joined BGI to contribute to the tremendous growth of the firm," said Kaz Okamoto, Chief Executive Officer of BGI Japan.

Prior to joining Merrill Lynch Investment Managers in 1998, Mr. Semaya was Director of Risk in the Financial Futures and Options division for Merrill Lynch in New York. Semaya joined Merrill Lynch in 1992 to develop the Futures and Options business in Japan. He has extensive experience in financial services, spanning sales, trading and research, for over 17 years.

He graduated from the University of Florida in 1984, received a Masters Degree from Temple University in 1990, and completed the Wharton School Executive Program in Pension Fund Management in 1993.

Barclays Global Investors is one of the world's largest asset managers(1) providing structured investment strategies such as risk-controlled active strategies and indexing. In the US, BGI is one of the largest active managers,(2) set apart by its risk-controlled approach. BGI managed over $1 trillion in assets as of 12/31/03, and over 2,300 funds for more than 2,500 clients in 47 countries around the world. BGI is an innovator in investment management, applying science and technology to the investment process. BGI has over 2,000 employees worldwide and is owned by Barclays PLC, one of the UK's largest companies, and one of the world's leading global financial services providers.

(1) Source: "P&I/Watson Wyatt Mega Managers,"

Pensions & Investments, September 01, 2003.

(2) Source: "Special Report: Money Manager Directory,"

Pensions & Investments, May 26, 2003.