RNS Number:8669O
European Exchange-Traded Fnd Co.PLC
20 August 2003




FTSE GLOBAL SECTOR LDRS

ANNOUNCEMENT OF TOTAL REPURCHASE

OF ALL SHARES AT NAV PER SHARE



On the 18th of August 2003 the directors of the companies listed below have, in
accordance with article 11(b) of the articles of association, resolved to effect
the total repurchase of all of the shares of each FTSE Global Sector LDRS fund
at Net Asset Value (NAV).  A copy of the letter of the directors decision to
effect the total repurchase of shares in each FTSE Global Sector LDRS fund is
available on request from the contacts set out below. It is intended that the
repurchase will take effect on or about the 19th of September 2003. The proceeds
of the repurchase will be paid to shareholders in cash and no repurchase charge
will be payable. Within 14 days of the date of the actual repurchase, the
repurchase proceeds will be paid to shareholders through the relevant depository
through which the shares are held (Necigef if shares are purchased through
Euronext Amsterdam).


Company name        LDRS sub-fund name                                          ISIN

LDRS I plc          FTSE Global Autos LDRS                                  IE0030803229

LDRS II plc         FTSE Global BK LDRS                                     IE0030947430

LDRS III plc        FTSE Global Basic Industries LDRS                       IE0030947984

LDRS IV plc         FTSE Global Energy LDRS                                 IE0030948289

LDRS V plc          FTSE Global Financials LDRS                             IE0030948628

LDRS VI plc         FTSE Global General Industrials LDRS                    IE0030948842

LDRS VII plc        FTSE Global Media LDRS                                  IE0030946796

LDRS VIII plc       FTSE Global Pharmaceuticals LDRS                        IE0030946358

LDRS IX plc         FTSE Global Tech LDRS                                   IE0030945053

LDRS X plc          FTSE Global Telecoms LDRS                               IE0030945384

LDRS XI plc         FTSE Global Utilities LDRS                              IE0030945616

LDRS XII plc        FTSE Global Cyclical LDRS                               IE0030945947

LDRS XIII plc       FTSE Global Non-Cyclical LDRS                           IE0030946135




Following the total repurchase of the shares it is intended that an
extraordinary general meeting of each company will be convened at which a
liquidator will be appointed to each company and that each company will be wound
up and delisted. It is not expected that there will be any proceeds from the
liquidation of each company. The costs and expenses relating to the appointment
of the liquidator and the winding up of the company will be paid by Merrill
Lynch International from the promotional expenses of each fund.



The directors have decided that a temporary suspension in the subscription and
redemption of shares in each of the FTSE Global Sector LDRS funds shall take
effect immediately as the disposal of any shareholders investment in the fund by
any shareholder in advance of the date of the total repurchase would be
detrimental to the interests of the remaining shareholders. The suspension of
subscription and redemption of shares shall continue until the date of the total
repurchase.



The shares of each Global Sector LDRS fund are listed for secondary market
trading on the NextTrack segment of Euronext Amsterdam and XTF segment of
Deutsche Boerse.  As the sponsor and market maker, Merrill Lynch International
has agreed to continue to act as market maker in these shares until the last
trading day, being the 12th of September 2003, enabling shareholders to sell
their shares on the secondary market.  Shareholders should be aware of the
secondary market trading risk outlined in the original prospectus for each of
the FTSE Global Sector LDRS funds, in particular that there is no certainty that
the market price at which the shares would be traded on a stock exchange will be
the same as the NAV per share.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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