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ProShares Announces Changes to ETF Lineup

ProShares announced today that it plans to close and liquidate 17 ETFs. The funds all trade on NYSE Arca.

“We continually review our lineup of ETFs to ensure our products meet the changing needs of investors,” said Steve Cohen, managing director and head of strategy for ProShare Advisors, LLC. “Investor preferences and client feedback indicate these funds have little long-term demand.”

ETFs to be discontinued:

ProShares ETFTicker
Short 30 Year TIPS/TSY Spread FINF
UltraPro 10 Year TIPS/TSY Spread UINF
UltraPro Short 10 Year TIPS/TSY Spread SINF
Ultra Russell MidCap Growth UKW
UltraShort Russell MidCap Growth SDK
Ultra Russell MidCap Value UVU
UltraShort Russell MidCap Value SJL
Ultra Russell1000 Growth UKF
UltraShort Russell1000 Growth SFK
Ultra Russell1000 Value UVG
UltraShort Russell1000 Value SJF
Ultra Russell2000 Growth UKK
UltraShort Russell2000 Growth SKK
Ultra Russell2000 Value UVT
UltraShort Russell2000 Value SJH
Ultra Russell3000 UWC
UltraShort Russell3000 TWQ

After the close of business on January 8, 2015, the funds will no longer accept creation orders. Trading in the funds will be halted prior to market open on January 9, 2015. From January 9 through the funds’ liquidation date, the funds will not be traded on NYSE Arca and there will be no secondary market for the shares. During this period, each fund will be in the process of liquidating its portfolio and will not be managed in accordance with its investment objective. Proceeds of the liquidation are scheduled to be distributed to shareholders on or about January 22, 2015.

Any shareholders remaining in the funds on the distribution date will automatically have their shares redeemed for cash at the net asset value as of the liquidation date. The cash distribution will be deposited into the cash portion of their brokerage accounts. These cash distributions are taxable events and shareholders should consult their tax advisors about potential tax consequences.

About ProShares

ProShares offers the nation's largest lineup of alternative ETFs. We help investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares helps investors build better portfolios by providing access to alternative investments delivered with the liquidity, transparency and cost effectiveness of ETFs. Our wide array of alternative ETFs can help you reduce volatility, manage risk and enhance returns.

ProShares has the largest lineup of alternative ETFs in the United States according to Strategic Insight, based on analysis of all the known alternative ETF providers (as defined by Strategic Insight) by their number of funds and assets (as of 1/31/2014).

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and each entails certain risks, which may include risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance. Short positions lose value as security prices increase. Leverage can increase market exposure and magnify investment risk. These risks can increase volatility and decrease performance. 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.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor.

Contacts:

Media:
Hewes Communications, Inc.
Tucker Hewes, 212-207-9451
tucker@hewescomm.com
or
Investors:
ProShares
866-776-5125
ProShares.com

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