 <p>blah will point to the same memory location as listOfBlah(0). Setting a property on the object at that location will affect the object in memory at that location. If you set blah = someOtherObject later, then the object in the memory location for listOfBlah(0) will not be affected because effectively you're pointing blah at a different object.</p> <p>This is generally the case, but for a more in depth discussion, you should take a look at Microsoft's documentation on value types and reference types: <a href="http://msdn.microsoft.com/en-us/library/aa711899(v=vs.71).aspx" rel="nofollow">http://msdn.microsoft.com/en-us/library/aa711899(v=vs.71).aspx</a></p>