UPW ProShares Ultra Utilities

ProShares, the country’s fourth most successful exchange traded fund (ETF) company,1 today announced the launch of ProShares German Sovereign/Sub-Sovereign ETF (NYSE: GGOV), the first ETF in the United States focused on sovereign and sub-sovereign debt from Germany. Germany has the world’s third-largest public debt market2 and is widely recognized for its fiscal strength. The ETF lists on NYSE Arca today.

GGOV seeks to match the performance of Markit iBoxx EUR Germany Sovereign & Sub-Sovereign Liquid Index, before fees and expenses.

“Many investors have fixed income portfolios concentrated in high credit quality U.S. bonds,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor. “This ETF can help these investors manage risk by adding diversification through international bond exposure.”

About GGOV’s Benchmark

GGOV’s benchmark includes only investment grade debt,3 the majority of which currently has the highest rating from Standard & Poor’s, Moody’s and Fitch. The benchmark seeks to track the returns of euro-denominated general obligation bonds issued by the Federal Republic of Germany, state governments of Germany, government agencies or institutions, and entities that are owned or guaranteed by German federal or state governments.

About ProShares

ProShares is the country’s fourth most successful exchange traded fund (ETF) company,1 with 129 funds and nearly $23 billion in assets.4 ProShares’ lineup includes the largest family of geared (leveraged and inverse) ETFs.5 ProShare Advisors and ProShare Capital Management are affiliated with ProFund Advisors, which was founded in 1997. Together, they manage more than $26 billion in ETF and mutual fund assets.4

1 Source: Financial Research Corporation, based on analysis of organic net sales of U.S. exchange traded products (as of 6/30/2011). Includes products launched by their current management company; excludes products acquired through purchase or merger.

2 CIA World Factbook 2011

3 At the time of quarterly rebalancing

4 Assets as of 12/31/2011

5 Source: Lipper, based on a worldwide analysis of all known providers of funds in these categories. The analysis covered ETFs and ETNs by the number of funds and assets (as of 6/30/2011).

Investing involves risk, including the possible loss of principal. ProShares are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. International investments may also involve risk from unfavorable fluctuations in currency values, differences in generally accepted accounting principles, and economic or political instability. Securities focusing on a single country may be subject to higher volatility. The fund may be adversely affected by the economic uncertainty experienced recently by various members of the European Union. Bonds will decrease in value as interest rates rise. Please see their summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them from your financial advisor or broker/dealer representative or by visiting ProShares.com.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the fund’s advisor.

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