ProShares, a premier provider of alternative exchange traded funds (ETFs), announced today a share split on one of its ETFs and reverse share splits on three of its ETFs. The split and reverse splits will not change the value of a shareholder's investment.

Split

One fund will split shares 2-for-1.
Ticker     Fund     Split Ratio
AGQ     ProShares UltraSilver*     2:1
       

The split will apply to shareholders of record as of the close of the markets on October 10, 2011, payable after the close of the markets on October 12, 2011. The fund will trade at its post-split price on October 13, 2011. The ticker symbol and CUSIP number for the fund will not change.

The split will decrease the price per share of the fund with a proportionate increase in the number of shares outstanding. For example, for a 2-for-1 split, every pre-split share held by a shareholder will result in the receipt of two post-split shares, which will be priced at half of the net asset value ("NAV") of a pre-split share.

Illustration of a Split

The following table shows the effect of a hypothetical 2-for-1 split:
      # of Shares Owned     Hypothetical NAV     Value of Shares
Pre-Split     100     $100.00     $10,000.00
Post-Split     200     $50.00     $10,000.00
           

Reverse Splits

Three funds will reverse split shares 1-for-3.
Ticker     Fund     Split Ratio     Old Cusip     New Cusip
SRS     ProShares UltraShort Real Estate     1:3     74347X583     74348A871
YCS     ProShares UltraShort Yen*     1:3     74347W858     74347W569
SDP     ProShares UltraShort Utilities     1:3     74347R560     74348A863
               

All reverse splits will apply to shareholders of record as of the close of the markets on October 12, 2011. The funds will trade at their post-split prices on October 13, 2011. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued a new CUSIP number.

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