NOTES TO FINANCIAL STATEMENTS
Vanguard International Equity Index Fund and Vanguard Total International Portfolio are registered under the
Investment Company Act of 1940 as open-end investment companies, or mutual funds. Vanguard International
Equity Index Fund consists of the European, Pacific, and Emerging Markets Portfolios, each of which seeks to
match the performance of a distinct international market index by investing in common stocks. The Total
International Portfolio, one of six independent Portfolios of Vanguard STAR Fund, seeks to match the
performance of its target index by investing in the European, Pacific, and Emerging Markets Portfolios. The
Portfolios' direct and indirect investments in foreign securities involve investment risks not normally associated
with investing in securities of United States corporations.
A. The following significant accounting policies conform to generally accepted accounting principles for mutual
funds. The Portfolios consistently follow such policies in preparing their financial statements.
1. SECURITY VALUATION: European, Pacific, and Emerging Markets Portfolios:
Foreign securities listed on an exchange are valued at the latest quoted sales prices on the appropriate exchange
as of the close of trading on the New York Stock Exchange (generally 4:00 p.m. Eastern time) on the valuation
date. Securities not listed on an exchange are valued at the latest quoted bid prices. Bonds, and temporary cash
investments acquired over 60 days to maturity, are valued using the latest bid prices or using valuations based on
a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished
by an independent pricing service. Other temporary cash investments are valued at amortized cost, which
approximates market value.
Total International Portfolio: Investments are valued at the net asset value of each Vanguard Portfolio determined
as of the close of the New York Stock Exchange on the valuation date. Temporary ca