Morgan, Lewis & Bockius LLP
                         1111 Pennsylvania Avenue, N.W.
                             Washington, D.C. 20004

January 27, 2004

Re:  iShares Trust
     File Nos. 333-92935; 811-09729
     Post-Effective Amendment No. 29 to the Registration Statement on Form N-1A
     --------------------------------------------------------------------------

Ladies and Gentlemen:

On behalf of our client, iShares Trust (the "Trust"), we enclose for filing,
pursuant to Rule 485(a)(2) under the Securities Act of 1933, Post-Effective
Amendment No. 29 to the Trust's registration statement on Form N-1A. The purpose
of this filing is to register a new series of the Trust, iShares FTSE/Xinhua
China 25 Index Fund (the "Fund").

With the exception of disclosure specific to the Fund, the format and disclosure
utilized in the enclosed registration statement is substantially similar to that
in each of the Trust's other Post-Effective Amendments, including Post-Effective
Amendment No. 26, filed on October 21, 2003, that were reviewed by the staff.
Accordingly, on behalf of the Trust, we hereby request, in reliance upon
Securities Act Release No. 13768 (Feb. 15, 1984), that Post-Effective Amendment
No. 29 receive selective review by the Commission and its staff.

If you have any questions about or comments on this filing, please do not
hesitate to contact me at (202) 739-5116 or John McGuire at (202) 739-5654.

Sincerely,

/s/  Lisa Chaikin Hamman

Lisa Chaikin Hamman

Enclosures

cc:   James E. O'Connor, Esq.
      Richard Morris, Esq.
      W. John McGuire, Esq.