ProShares Launches Two Additional Short ETFs in Energy and Financial Sectors

  
    
  
  
    
      With oil prices near records and the financial sector roiled by 
      sub-prime troubles and the threat of recession, many investors have been 
      looking for ways to benefit from � or protect 
      against � volatility in these sectors. The 
      rapid growth of two ProShares offering short, leveraged exposure to 
      these sectors underscores this investor interest: UltraShort Oil & Gas 
      ProShares has attracted $2.3 billion in net flows year to date and 
      UltraShort Financials ProShares has attracted $1 billion.
    
    
      To provide investors more choices in these volatile sectors, ProShares 
      today introduced two new ETFs for investors who want short exposure 
      without the magnification of leverage: Short Oil & Gas ProShares and 
      Short Financials ProShares. Both are designed to go up when stock 
      indexes on the sectors go down (and down when the indexes go up). 
      ProShares, which manages 99% of the country�s 
      short and leveraged ETF assets1, now offers 26 
      sector ETFs, including this line-up of six covering the energy and 
      financial sectors:
    
    
      
        
          
            ProShares
          
        
        
          �
        
        
          Dow Jones U.S. Sector Index
        
        
          �
        
        
          
            Daily Objective*
          
        
        
          �
        
        
          
            Ticker
          
        
      
      
        
          Short Oil & Gas ProShares
        
        
          �
        
        
          Oil & Gas
        
        
          �
        
        
          100% of the inverse
        
        
          �
        
        
          DDG
        
      
      
        
          UltraShort Oil & Gas ProShares
        
        
        
        
          Oil & Gas
        
        
        
        
          200% of the inverse
        
        
        
        
          DUG
        
      
      
        
          Ultra Oil & Gas ProShares
        
        
        
        
          Oil & Gas
        
        
        
        
          200%
        
        
        
        
          DIG
        
      
      
        
          Short Financials ProShares
        
        
        
        
          Financials
        
        
        
        
          100% of the inverse
        
        
        
        
          SEF
        
      
      
        
          UltraShort Financials ProShares
        
        
        
        
          Financials
        
        
        
        
          200% of the inverse
        
        
        
        
          SKF
        
      
      
        
          Ultra Financials ProShares
        
        
        
        
          Financials
        
        
        
        
          200%
        
        
        
        
          UYG
        
      
    
    
      * Before fees and expenses.
    
    
      The two ProShares that offer leveraged, short exposure to these sectors 
      have been among the firm�s most popular ETFs. 
      UltraShort Oil & Gas ProShares has traded more than 44 million shares in 
      a day2 and UltraShort Financials has traded 22 
      million shares in a day3. Both ProShares exceed 
      $2 billion in assets under management.
    
    
      About ProShares and ProFunds Group
    
    
      Overall, ProShares is the nation's fifth-largest provider of ETFs and 
      the #1 ETF company in the U.S. in net flows through the end of April4. 
      The new additions, which will trade on the American Stock Exchange�, 
      bring the firm�s total ETF offerings to 64. 
      ProShares is part of the $26 billion ProFunds Group, which also includes 
      more than 115 ProFunds mutual funds. Since 1997, ProFunds has provided 
      mutual fund investors with easier access to sophisticated investment 
      strategies, with offerings that include mutual funds that seek to 
      magnify daily index performance and funds that seek to increase in value 
      when markets decline.
    
    
      ProFunds Group describes the portfolio managers common to ProFund 
      Advisors LLC, advisor to ProFunds mutual funds, and ProShare Advisors 
      LLC, advisor to ProShares ETFs. JPMorgan Worldwide Securities Services 
      provides a full range of ETF services to ProShares including fund 
      accounting and administration, transfer agency and custody.
    
    
      All investing involves risk, including the possible loss of principal. 
      Short ProShares should lose value when their market indexes rise; and 
      they entail certain risks, including, in some or all cases, aggressive 
      investment techniques, inverse correlation and market price variance 
      risks, all of which can increase volatility and decrease performance. 
      ProShares are not diversified investments. Narrowly focused investments, 
      including sector ETFs, typically exhibit higher volatility. ProShares 
      are designed to meet daily objectives; results over longer periods may 
      differ. There is no guarantee that any ProShares ETF will achieve its 
      investment objective.
    
    
      Carefully consider the investment objectives, risks, charges and 
      expenses of ProShares and ProFunds before investing. This and other 
      information can be found in their prospectuses. Read the prospectus(es) 
      carefully before investing. For a ProShares ETF prospectus, visit www.proshares.com 
      and seek advice from your financial adviser or broker/dealer 
      representative. Financial professionals can also call 866-PRO-5125. For 
      a ProFunds mutual funds prospectus, call 888-PRO-FNDS (individual 
      investors) or 888-PRO-5717 (financial professionals) or visit www.profunds.com. 
      Read the prospectus(es) carefully before investing.
    
    
      ProFunds Distributors, Inc. is distributor for ProFunds mutual funds. 
      ProShares ETFs are distributed by SEI Investments Distribution Co, which 
      is not affiliated with any ProFunds Group affiliate.
    
    
      �Dow Jones U.S. Sector Indexes� 
      are service marks of Dow Jones & Company, Inc. and have been licensed 
      for use by ProShares. ProShares have not been passed on by this company 
      as to their legality or suitability. ProShares are not sponsored, 
      endorsed, sold or promoted by Dow Jones, and it makes no representation 
      regarding the advisability of investing in these products. THESE 
      ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY 
      WITH RESPECT TO PROSHARES.
    
    
      2008-2391
    
    
      1 Based on a comparison of average daily short 
      and leveraged ETF assets for May 2008 for ProShares and Rydex. Source: 
      Bloomberg.
    
    
      2 Based on Bloomberg data, assets for ProShares 
      UltraShort Oil & Gas were $2.3 billion for 5/30/2008 and trading volume 
      reached a high of over 44 million shares on 5/21/2008.
    
    
      3 Based on Bloomberg data, assets for ProShares 
      UltraShort Financials were $2.2 billion for 5/30/2008 and trading volume 
      reached a high of over 22 million shares on 3/17/2008.
    
    
      4 Source: American Stock Exchange YTD net flows 
      through 4/30/2008.