ProShares and KBW Announce the Launch of the First Leveraged and Inverse Regional Banking ETFs

http://www.businesswire.com/news/home/20100422005406/en

BETHESDA, Md.--(Business Wire)--
ProShares, the leading manager of leveraged and inverse ETFs,1 and KBW (NYSE:
KBW), the largest full-service investment bank specializing in the financial
services sector, announced today the launch of the first ETFs providing
leveraged or inverse exposure to the regional banking sector.

The ETFs seek to provide 200% or -100% of the return of the KBW Regional Banking
IndexSM for a single day, before fees and expenses. The KBW Regional Banking
Index, the most widely used benchmark for U.S. regional banking stocks,2 was
created and is managed by KBW.

The new ProShares ETFs, Ultra KBW Regional Banking (KRU) and Short KBW Regional
Banking (KRS), will list on NYSE Arca today.

"We`re pleased to provide investors with ProShares ETFs on the regional banking
sector," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC,
ProShares' investment advisor. "Many investors follow regional banking stocks,
and these ETFs provide them with additional tools to act on their views."

"We are excited about teaming with ProShares to bring investors these valuable
new tools for managing exposure to regional banks," added John N. Howard,
Co-Director of Research at KBW.

ProShares Ticker Index Objective* Exchange
Symbol
New Regional Banking Sector ProShares
Ultra KBW Regional KRU KBW Regional Banking Index +200% Daily NYSE Arca
Banking
Short KBW Regional KRS KBW Regional Banking Index -100% Daily NYSE Arca
Banking

*Before fees and expenses

About ProShares

ProShares is part of ProFunds Group, the leader in leveraged and inverse funds.1
ProShares introduced the first leveraged and inverse ETFs in the U.S. in 2006.
Since 1997, ProFunds mutual funds have provided investors with access to
sophisticated investment strategies.

About KBW

KBW operates in the U.S. and Europe through its broker dealer subsidiaries,
Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe,
Bruyette & Woods Asia Limited. It also offers asset management services through
KBW Asset Management, Inc. Founded in 1962, the firm is widely recognized as a
leading authority in the banking, insurance, brokerage, asset management,
mortgage banking and specialty finance sectors. The firm has established
industry-leading positions in the areas of research, corporate finance, mergers
and acquisitions as well as sales and trading for financial services companies.

Statements in this press release that are not statements of historical or
current fact constitute forward-looking statements. In some cases, you can
identify these statements by words such as "may," "might," "will," "should,"
"expect," "plan," "intend," "anticipate," "believe," "estimate," "predict,"
"potential," or "continue," the negative of these terms and other comparable
terminology. Such forward-looking statements, which are based on various
underlying assumptions and expectations and are subject to risks, uncertainties
and other unknown factors, may include projections of our future financial
performance based on our growth strategies and anticipated trends in our
business. These statements are only predictions based on our current
expectations and projections about future events, and there are or may be
important factors that could cause our actual results to be materially different
from the historical results or from any future results expressed or implied by
such forward-looking statements. These factors include, but are not limited to,
those discussed under the caption "Risk Factors" in our annual report on Form
10-K, which is available at the Securities and Exchange Commission website at
www.sec.gov. Unless required by law, we undertake no obligation to publicly
update or revise any forward-looking statement to reflect circumstances or
events after the date of this press release.

Most ProShares ETFs and many ProFunds employ leveraged investment techniques
that magnify gains and losses, and result in greater volatility in value. Each
Short or Ultra ProShares ETF and leveraged or inverse ProFund seeks a return
that is a multiple or inverse multiple (e.g., -200%) of the return of an index
or other benchmark (target) for a single day, before fees and expenses. Due to
the compounding of daily returns, Short or Ultra ProShares` and leveraged and
inverse ProFunds` returns over periods other than one day will likely differ in
amount and possibly direction from the target return for the same period.
Investors should monitor holdings consistent with their strategies, as
frequently as daily. For more on correlation, leverage and other risks, please
read the ProShares or ProFunds prospectus.

1 Source: Lipper, based on a worldwide analysis of all of the known providers of
funds in these categories. The analysis covered ETFs, ETNs and mutual funds by
the number of funds and assets (as of 6/30/2009).

2 Source: Bloomberg, based on average volume, flows and assets from 3/31/2009 to
3/31/2010.

All investing involves risk, including the possible loss of principal. ProShares
entail certain risks, including the use of aggressive investment techniques
(futures contracts, options, forward contracts, swap agreements and similar
instruments), imperfect benchmark correlation, leverage and market-price
variance risks, all of which can increase volatility and decrease performance.
ProShares are non-diversified and narrowly focused investments typically exhibit
higher volatility. Short ProShares should lose value when their market indexes
rise. 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 summary and full prospectuses. Read them carefully before investing.
For ProShares ETF prospectuses visit proshares.com.For ProFunds mutual fund
prospectuses visit profunds.com.

"ProFunds Group" includes ProFunds mutual funds and ProShares ETFs. ProFunds
Distributors, Inc. is distributor for ProFunds mutual funds. ProShares ETFs are
distributed by SEI Investments Distribution Co., which is not affiliated with
ProFunds Group or its affiliates.

"KBW Regional Banking Index SM" is a service mark of Keefe, Bruyette & Woods,
Inc. (KBW), and has been licensed for use by ProShares. ProShares have not been
passed on by this entity or its subsidiaries or affiliates as to their legality
or suitability. ProShares are not sponsored, endorsed or promoted by this entity
or its subsidiaries or affiliates, and they make no representation regarding the
advisability of investing in these products. THIS ENTITY AND ITS SUBSIDIARIES
AND AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO
PROSHARES.

For ProShares
Hewes Communications, Inc.
Tucker Hewes, 212-207-9451
tucker@hewescomm.com
or
For KBW
Intermarket Communications
Neil Shapiro, 212-754-5423
nshapiro@intermarket.com

Copyright Business Wire 2010