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Guggenheim Investments Announces Appointment Of A New Trustee And Election Of Chief Executive Officer For Certain Closed-End And Exchange Traded Funds

The exchange traded funds and certain closed-end funds advised by Guggenheim Funds Investments Advisors, LLC (together the “Funds”) today announce the appointment of Mr. Donald C. Cacciapaglia as a Trustee of each of the Funds. The Funds also announce the election, by the Funds’ Boards of Trustees, of Mr. Donald C. Cacciapaglia as the Chief Executive Officer. Mr. Cacciapaglia succeeds Mr. Kevin M. Robinson as Chief Executive Officer of the Funds. Mr. Robinson will remain the Chief Legal Officer of the Funds.

Mr. Donald C. Cacciapaglia

Mr. Cacciapaglia is Senior Managing Director of Guggenheim Investments, Guggenheim’s investment management business, responsible for Board relationships. He joined Guggenheim in February 2010 as President of the investment management businesses of Guggenheim Partners and Chief Operating Officer of Guggenheim Partners Asset Management, LLC. Prior to that he was Chairman and CEO of Channel Capital Group Inc. and its subsidiary broker-dealer Channel Capital Group LLC, a Guggenheim affiliated company. From 1996 until 2002 when he joined Channel Capital Group, Mr. Cacciapaglia held the position of Managing Director and Chief Operating Officer of the Investment Banking Group at PaineWebber. Additionally, in 1998, he started PaineWebber’s Private Equity Group and assumed responsibility for the coverage of Leveraged Buyout firms and the Investment Bank’s Business Development Group. Before that, Mr. Cacciapaglia was Chief Operating Officer of the Short and Intermediate Trading Group at CS First Boston (1995-1996). From 1977 to 1995, he held numerous positions at Merrill Lynch & Co., including Chief Operating Officer and Senior Managing Director of Investment Banking, Senior Managing Director of Global Fixed Income Research and Analytics and Managing Director of the Western Institutional Region for sales and trading in San Francisco. Mr. Cacciapaglia was a Senior Analyst with the Federal Reserve Bank of New York from 1973 -1977.

In addition to his position with Guggenheim Investments, Don is President, CEO and Trustee of Rydex Dynamic Funds, Rydex ETF Trust, Rydex Series Funds and Rydex Variable Trust from 2012 to present. He is President of SBL Fund, Security Equity Fund, Security Income Fund, Security Large Cap Value Fund and Security Mid Cap Growth Fund (the “Security Funds”). He will also become a director of the Security Funds, effective August 23, 2012.

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