Barclays Global Investors Canada Limited - s. 213(3)(b) of the LTCA

Headnote

Clause 213(3)(b) of the Loan and Trust Corporations Act -- application by manager, with a prior track record acting as trustee, for approval to act as trustee of pooled funds to be established and managed by the applicant and offered pursuant to a prospectus exemption.

Statutes Cited:

Loan and Trust Corporations Act, R.S.O. 1990, c. L.25, as am., s. 213(3)(b).

September 16, 2008

Attention: Linda Currie

Dear Sirs/Medames:

Further to your application dated August 8, 2008 (the "Application") filed on behalf of the Applicant, and based on the facts set out in the Application and in the e-mails dated September 2 and September 12, 2008 and the representation by the Applicant that the assets of the Existing Funds, as defined and listed in Schedule A, and the Future Funds will be held in the custody of a trust company incorporated and licensed or registered under the laws of Canada or a jurisdiction, or a bank listed in Schedule I, II or III of the Bank Act (Canada), or an affiliate of such bank or trust company, the Ontario Securities Commission (the "Commission") makes the following order.

Pursuant to the authority conferred on the Commission in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of the Existing Funds and the Future Funds, the securities of which will be offered pursuant to a prospectus exemption.

Yours truly,

"David L. Knight"

"Carol S. Perry"

SCHEDULE A