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Thursday 06 April, 2006

Barclays Global Inv

Circular

Barclays Global Inv Cash Selection
06 April 2006

_______________________________________________________________________________________________



BARCLAYS GLOBAL INVESTORS IRELAND LIMITED



JPMorgan House

International Financial Services Centre

Dublin 1

Ireland

_________________________________________________________________________________________



FOR INFORMATION ONLY



In accordance with the current policy of the Financial Regulator, this document
has not been reviewed by the Financial Regulator



5 April 2006





Barclays Global Investors Cash Selection Funds plc (the 'Company')



Barclays Global Investors Sterling Liquidity First Fund ('Sterling Liquidity
Fund')

Barclays Global Investors US Dollar Liquidity First Fund ('US Dollar Liquidity
Fund')

Barclays Global Investors Euro Liquidity First Fund  ('Euro Liquidity Fund')

(together the 'Funds')





Dear Investor



As Manager of the Company, we are writing to advise you of the following
changes: -



Change in dealing cut-off time in the Sterling Liquidity Fund



In response to client feedback and to allow our investors more time to place
their orders, we are extending the dealing cut-off time for our Sterling
Liquidity Fund.  The revised dealing cut off time for receipt of subscriptions
and redemptions will change from 10:30 a.m.             to 1.00 p.m. (Irish
time) on the relevant Dealing Day.



Recent market changes, such as the change in policy by the Bank of England to
actively reduce interest rate volatility in the sterling overnight market has
been instrumental in taking this decision.  We have assessed the possible
effects on market liquidity and investment performance and results show the
impact on both is minimal.

In addition, on 24 December in each year the dealing cut-off time for
subscriptions and redemptions will be changed to 11:00 a.m. (Irish time)
provided that where 24 December is not a Dealing Day, applications for Shares
must be received by 11:00 a.m. on the relevant preceding Dealing Day (or such
earlier or later time as the Manager may, in its discretion determine from time
to time and publish, one week in advance on www.bgicashfunds.com).



This change in dealing cut off time will not the affect the Sterling Liquidity
Fund's investment objective, management fee or the value of your investment.



Change in dealing cut-off time in the Euro Liquidity Fund and US Dollar
Liquidity Fund



The revised dealing cut-off time for receipt of subscriptions and redemptions on
24 December of each year will be changed to 11:00 a.m. (Irish time) provided
that where 24 December is not a Dealing Day, applications for Shares must be
received by 11:00 a.m. on the relevant preceding Dealing Day (or such earlier or
later time as the Manager may, in its discretion determine from time to time and
publish, one week in advance on www.bgicashfunds.com). This change takes account
of the early closure of the UK market on this date.



This change in dealing cut-off time will not the affect the investment
objective, management fee or the value of your investment in either Euro
Liquidity Fund or US Dollar Liquidity Fund.



Change in Investment Policy



The investment policy in the Funds will change so that, where the Funds invest
in floating rate investments, the residual term to maturity will be extended to
two years or less.  Currently, the residual term to maturity is 15 months or
less. Barclays Global Investors Global Credit Group has researched the impact on
the risk profile of the Funds and is comfortable that the increase in risk is
low and appropriate for an Aaa rated, stable NAV liquidity fund. The change is
also consistent with the guidelines issued by Moody's Investors Service and
Standard & Poor's who rate the Funds AAA.



Subject to regulatory approval, these changes will  be effective from 21 April
2006.



You will not be required to approve these changes.



If you have sold or transferred all of your holdings in the Funds please pass
this document at once to the purchaser or transferee or to the stockbroker, bank
or other agent through whom the sale or transfer was effected for transmission
to the purchaser or transferee as soon as possible.



Except where the context otherwise requires, defined terms used in this letter
shall have the same meaning as those used in the Prospectus of the Funds.

Should you have any queries in relation to the foregoing, you may contact the
cash management team by email and telephone as set out below: -





Email:          [email protected]



Telephone:            0044 207 668 8770





Yours sincerely





____________

Director

Barclays Global Investors Ireland Limited









This announcement has been issued through the Companies Announcement Service of

                            the Irish Stock Exchange








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