RNS Number:1498S
European Exchange-Traded Fnd Co.PLC
17 November 2003

Stock Exchange Announcement


For immediate release                                          17  November 2003


           European Exchange-Traded Fund Company Plc (the "Company")


           Re:      Change of Administrator and Change of Custodian



The Board of Directors of the Company (the "Board") wishes to announce that with
effect as and from midnight on 14 November, Bank of Ireland Securities Services
Limited (the "Administrator") has been appointed as the administrator to the
Company replacing AIB/BNY Fund Management (Ireland) Ltd ("AIB/BNY").

The Company has appointed Bank of Ireland Securities Services Limited as
administrator pursuant to the Administration Agreement.  The Administrator will
have the responsibility for the administration of the Company's affairs
including the calculation of the Net Asset Value and preparation of the accounts
of the Company, subject to the overall supervision of the Directors.



The Administrator is a limited liability company incorporated in Ireland on 16
May 1989, and is, ultimately, a wholly owned subsidiary of The Governor and
Company of the Bank of Ireland.  The Administrator has also been appointed as
the company secretary of the Company.



The Administration Agreement provides that the appointment of the Administrator
will continue unless and until terminated by either party giving to the other
not less than 90 days written notice although in certain circumstances the
agreement may be terminated forthwith by notice in writing by either party to
the other.  The agreement also provides for certain indemnities in favour of the
Administrator otherwise than due to the fraud, bad faith, negligence or wilful
misconduct of the Administrator in the performance of its obligations under the
agreement.



The administration fees are paid by Barclays Global Investors Limited (the "
Investment Manager").



In addition, the Administrator is also being appointed as the Secretary to the
Company.



The Board also wishes to announce that with effect from 14 November 2003, the
Company has appointed The Governor and Company of the Bank of Ireland (the "
Custodian")as custodian of its assets pursuant to the Custodian Agreement. The
Custodian provides safe custody of the Company's assets pursuant to the
Regulations.



The Custodian was established by Royal Charter in 1783 and is one of Ireland's
largest banks.  As at (31 August 2003), the Custodian had assets in excess of
US$123 billion under custody/ administration.  The Custodian's main activity is
banking business and it is a public company quoted on the Irish, London and New
York Stock Exchanges.



Under the terms of the Custodian Agreement the Custodian shall be liable to the
Company and the Shareholders for any loss suffered by the Company or the
Shareholders as a result of its unjustifiable failure to perform its obligations
or its improper performance of them.  The Custodian has full power to delegate
the whole or any part of its custodial functions (but may not delegate its
regulatory obligations under the notices issued by the Irish Financial Services
Regulatory Authority), but the liability of the Custodian will not be affected
by the fact that it has entrusted to a third party some or all of the assets in
its safe-keeping.



The Custodian may appoint sub-custodians for the safe custody of the Company's
assets, but any liability of the Custodian shall not be affected by the fact
that it has entrusted to a sub-custodian some or all of its assets for
safekeeping.   The Custodian will use due skill, care and diligence (including
considering the particular effect of the insolvency of a sub-custodian) in the
selection of sub-custodians so as to ensure that any sub-custodian has, and
maintains, the expertise, competence and standing appropriate to discharge the
responsibilities concerned.  The Custodian must maintain an appropriate level of
supervision over sub-custodians and shall make the appropriate inquiries to
confirm that the obligations of the sub-custodians continue to be competently
discharged.



The Company agrees to indemnify and keep indemnified the Custodian from and
against any and all actions, proceedings, claims, costs, demands and expenses
(including, legal fees and professional expenses) which may be brought against,
suffered or incurred by the Custodian by reason of the performance of the
Custodian's duties under the terms of the Custodian Agreement save where any
such actions, proceedings, claims, costs, demands or expenses arise as a result
of the Custodian's unjustifiable failure to perform its obligations or its
improper performance of them.



The Custodian's fees are paid by the Investment Manager.


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




Enquiries:
Goodbody Stockbrokers                                       Ciara Bollard
                                                            +353 1 6419414



This announcement has been issued through the Companies Announcement Service of
                              The Irish Stock Exchange




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