Claymore/BBD High Income Index ETF Announces Name Change and Investment Policy Change

  
    
  
  
    
      Claymore/BBD High Income Index ETF (AMEX: LVL) announced today that, 
      effective September 30, 2008, the Fund will change its name to the 
      Claymore/S&P Global Dividend Opportunities Index ETF. At that time, the 
      Fund will change its current policy of seeking investment results that 
      correspond generally to the performance, before the Fund’s 
      fees and expenses, of an equity index called the Benchmarks By Design 
      High Income Index. Instead, the Fund will seek investment results that 
      correspond generally to the performance, before the Fund's fees and 
      expenses, of an equity index called the S&P Global Dividend 
      Opportunities Index (the “Index”). 
      The Index is developed and maintained by Standard & Poor’s, 
      a division of The McGraw-Hill Companies, Inc.
    
    
      Under the new policy, the Fund will invest at least 90% of its total 
      assets in common stocks and ADRs that comprise the Index. The Index 
      consists of 100 common stocks and ADRs listed on national exchanges that 
      offer high dividend yields chosen from a universe consisting of the 
      stocks listed on the exchanges of those countries included in the 
      S&P/Citigroup Broad Market Index. Derivatives, structured products, 
      over-the-counter listings, mutual funds and exchange-traded funds are 
      excluded from the Index. The Index methodology employs a yield-driven 
      weighting scheme that weights the highest yielding stocks most heavily, 
      subject to constraints that seek to provide diversification across 
      individual stocks, sectors and countries in the manner set forth in the 
      Fund’s registration statement. The Index is 
      rebalanced semi-annually after the close of the 10th U.S. trading day of 
      January and July, respectively. Potential Index constituents include 
      common stocks and ADRs with market capitalizations greater than $1.5 
      billion at the time of reconstitution. For more information on the Index 
      please refer to the Standard and Poor’s web 
      site at, http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/ 
      indices_divopp/2,3,6,0,0,0,0,0,0,2,1,0,0,0,0,0.html. (Due to its 
      length, this URL may need to be copied/pasted into your Internet 
      browser's address field. Remove the extra space if one exists.)
    
    
      Finally, the Fund’s distribution of income 
      dividends, if any, will change from monthly to quarterly, effective 
      September 30, 2008.
    
    
      For more information about Claymore/BBD High Income Index ETF (AMEX: 
      LVL), please see www.claymore.com/LVL.
    
    
      About Claymore Securities
    
    
      Claymore Securities, Inc. is a privately-held financial services company 
      offering unique investment solutions for financial advisors and their 
      valued clients. Claymore entities have provided supervision, management, 
      servicing or distribution on approximately $18.4 billion in assets as of 
      June 30, 2008. Claymore currently offers exchange-traded funds, unit 
      investment trusts and closed-end funds.
    
    
      About Standard & Poor's Index Services
    
    
      Standard & Poor's Index Services, the world's leading index provider, 
      maintains a wide variety of investable and benchmark indices to meet an 
      array of investor needs. Its family of indices includes the S&P 500, an 
      index with $1.32 trillion invested and $4.91 trillion benchmarked, and 
      the S&P Global 1200, a composite index comprised of seven regional and 
      country headline indices.
    
    
      Standard & Poor’s® 
      and S&P® are registered trademarks of The 
      McGraw-Hill Companies, Inc. (“McGraw-Hill”) 
      and have been licensed for use by Claymore Advisors, LLC. The 
      Claymore/S&P Global Dividend Opportunities Index ETF is not sponsored, 
      endorsed, sold or promoted by McGraw-Hill or S&P and McGraw-Hill and S&P 
      makes no representation, warranty or condition regarding the 
      advisability of investing in the Claymore/S&P Global Dividend 
      Opportunities Index ETF.
    
    
      For more information, please visit www.standardandpoors.com/indices.
    
    
      Risks Considerations:
    
    
      Investors should consider the following risk factors and special 
      considerations associated with investing in the Fund, which may cause 
      you to lose money, including the entire principal that you invest. Equity 
      Risk: The value of the securities held by the Funds will fall due to 
      general market and economic conditions, perceptions regarding the 
      industries in which the issuers of securities held by the Funds 
      participate, or factors relating to specific companies in which the 
      Funds invest. Foreign Investment Risk: Investing in non-U.S. 
      issuers, although limited to ADRs, may involve unique risks such as 
      currency, political, and economic risk, as well as less market 
      liquidity, generally greater market volatility and less complete 
      financial information than for U.S. issuers. Small and Medium-Sized 
      Company Risk: Investing in securities of these companies involves 
      greater risk as their stocks may be more volatile and less liquid than 
      investing in more established companies. These stocks may have returns 
      that vary, sometimes significantly, from the overall stock market. REIT 
      Risk: Investments in securities of real estate companies involve 
      risks. These risks include, among others, adverse changes in national, 
      state or local real estate conditions; obsolescence of properties; 
      changes in the availability, cost and terms of mortgage funds; and the 
      impact of changes in environmental laws. Master Limited Partnership 
      (MLP) Risk: Investments in securities of MLPs involve risks that 
      differ from an investment in common stock. Holders of the units of MLPs 
      have more limited control and limited rights to vote on matters 
      affecting the partnership. There are also certain tax risks associated 
      with an investment in units of MLPs. Risks of Investing in Other 
      Investment Companies: Investments in securities of other investment 
      companies involve risks, including, among others, the fact that shares 
      of other investment companies are subject to the management fees and 
      other expenses of those companies, and the purchase of shares of some 
      investment companies (in the case of closed-end investment companies) 
      may sometimes require the payment of substantial premiums above the 
      value of such companies’ portfolio securities 
      or net asset values. Preferred Stock Risk: There are special 
      risks associated with investing in preferred securities, including risks 
      related to deferral, non-cumulative dividends, subordination, liquidity, 
      limited voting rights and special redemption rights. Distribution 
      Risk: The Fund intends to make a level dividend distribution each 
      month to its shareholders of the net investment income of the Fund after 
      payment of Fund operating expenses. The level dividend rate may be 
      modified by the Trust’s Board of Trustees 
      from time to time. If, for any monthly distribution, the Fund’s 
      investment company taxable income, if any (which term includes net 
      short-term capital gain) is less than the amount of the distribution, 
      the difference will generally be a tax-free “return 
      of capital” distributed from the Fund’s 
      assets. The ultimate tax characterization of the Fund’s 
      distributions in a calendar year may not finally be determined until 
      after the end of that calendar year. This distribution policy may, under 
      certain circumstances, have certain adverse consequences to the Fund and 
      its shareholders because it may result in a “return 
      of capital,” resulting in less of a 
      shareholder’s assets being invested in the 
      Fund and, over time, increase the Fund’s 
      expense ratio. Non-Correlation Risk: The Fund’s 
      return may not match the return of the Index including, but not limited 
      to, operating expenses and costs in buying and selling securities to 
      reflect changes in the Index. The Fund may not be fully invested at 
      times. If the Fund utilizes a sampling approach or futures or other 
      derivative positions, its return may not correlate with the Index 
      return, as would be the case if it purchased all of the stocks with the 
      same weightings as the Index. Replication Management Risk: The 
      Fund is not “actively” 
      managed. Therefore, it would not necessarily sell a stock because the 
      stock’s issuer was in financial trouble 
      unless that stock is removed from the Index. Issuer-Specific Changes: The 
      value of an individual security or particular type of security can be 
      more volatile than the market as a whole and can perform differently 
      from the value of the market as a whole. The value of securities of 
      smaller issuers can be more volatile than that of larger issuers. Non-Diversified 
      Fund Risk: The Fund can invest a greater portion of assets in 
      securities of individual issuers than a diversified fund. Changes in the 
      market value of a single investment could cause greater fluctuations in 
      share price than would occur in a diversified fund. The following 
      outlines the primary risks of strategies pursued by the types of CEFs in 
      which the Fund may invest. Credit Risk: Credit risk is the 
      risk that a bond issuer fails to make principal or interest payments 
      when due to the Fund, or that the credit quality of the issuer falls. High 
      Yield Risk: CEFs that invest in high yield securities and unrated 
      securities of similar credit quality (commonly known as “junk 
      bonds”) may be subject to greater levels of 
      credit and liquidity risk than funds that do not invest in such 
      securities. Convertible Security Risk: Convertible security risk 
      is the risk that the value of CEFs’ 
      convertible securities may decline in response to such factors as rising 
      interest rates and fluctuations in the market price of the convertible 
      securities’ underlying common stock. Prepayment 
      Risk: Prepayment risk is the risk that homeowners or consumers may 
      prepay mortgage or consumer loans, which may affect the yield of 
      mortgage- or asset-backed securities that are backed by such loans. Please 
      read the Fund’s prospectus for more detailed 
      information on these risks and considerations.
    
    
      Investors should consider the investment objectives and policies, 
      risk considerations, charges and expenses of any investment product 
      carefully before investing. The prospectus contains this and other 
      relevant information. Investors should read the prospectus carefully 
      before investing or sending money. For this and more information, please 
      contact a securities representative or Claymore Securities, Inc.
    
    
      NOT FDIC - INSURED • NOT BANK - GUARANTEED • 
      MAY LOSE VALUE
    
    
      Claymore Securities, Inc. • 2455 Corporate 
      West Drive • Lisle, Illinois 60532
    
    
      1-888-949-3837 • www.claymore.com
    
    
      Member FINRA/SIPC 7/08