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                                                                      EX-99.CERT

                                 CERTIFICATIONS

I, Joseph La Corte, President of Fresco Index Shares Funds, certify that:

1.    I have reviewed this report on Form N-CSR of Fresco Index Shares Funds;

2.    Based on my knowledge, this report does not contain any untrue statement
      of a material fact or omit to state a material fact necessary to make the
      statements made, in light of the circumstances under which such statements
      were made, not misleading with respect to the period covered by this
      report;

3.    Based on my knowledge, the financial statements, and other financial
      information included in this report, fairly present in all material
      respects the financial condition, results of operations, changes in net
      assets, and cash flows (if the financial statements are required to
      include a statement of cash flows) of the registrant as of, and for, the
      periods presented in this report;

4.    The registrant's other certifying officers and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Rule 30a-2(c) under the Investment Company Act of 1940) for the
      registrant and have:

      a)   designed such disclosure controls and procedures to ensure that
           material information relating to the registrant, including its
           consolidated subsidiaries, is made known to us by others within those
           entities, particularly during the period in which this report is
           being prepared;

      b)   evaluated the effectiveness of the registrant's disclosure controls
           and procedures as of a date within 90 days prior to the filing date
           of this report (the "Evaluation Date"); and

      c)   presented in this report our conclusions about the effectiveness of
           the disclosure controls and procedures based on our evaluation as of
           the Evaluation Date;

5.    The registrant's other certifying officer(s) and I have disclosed to the
      registrant's auditors and the audit committee of the registrant's board of
      directors (or persons performing the equivalent functions):

      a)   all significant deficiencies and material weaknesses in the design or
           operation of internal control over financial reporting which are
           reasonably likely to adversely affect the registrant's ability to
           record, process, summarize, and report financial information; and

      b)   any fraud, whether or not material, that involves management or other
           employees who have a significant role in the registrant's internal
           controls over financial reporting.

By:   /s/ Joseph La Corte
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      Joseph La Corte
      President

Date: December 8, 2003
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