SQQQ ProShares UltraPro Short QQQ

ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of the first ETFs that provide magnified exposure to the high yield and investment grade corporate bond markets.

ProShares Ultra High Yield (NYSE: UJB) seeks to provide 2x the daily performance of the Markit iBoxx® $ Liquid High Yield Index, before fees and expenses. ProShares Ultra Investment Grade Corporate (NYSE: IGU) seeks to provide 2x the daily performance of the Markit iBoxx® $ Liquid Investment Grade Index, before fees and expenses. Both ETFs list on NYSE Arca today.

“On the heels of launching the first inverse ETFs on the high yield and investment grade corporate bond markets, we are pleased to offer the first leveraged ETFs on these segments of the fixed income landscape,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. “With today’s launch, knowledgeable investors now have an even larger suite of geared ETFs to help manage their exposures to high yield and investment grade corporate bonds.”

ProShares launched the first inverse high yield bond ETF, ProShares Short High Yield (NYSE: SJB), and the first inverse investment grade corporate bond ETF in the United States, ProShares Short Investment Grade Corporate (NYSE: IGS), in the past month.

ProShares     Ticker Symbol     Index         Daily Objective* New Leveraged High Yield and Investment Grade Corporate Bond ETFs Ultra High Yield     UJB    

Markit iBoxx® $Liquid HighYield Index

        2x

Ultra InvestmentGrade Corporate

    IGU    

Markit iBoxx® $LiquidInvestmentGrade Index

        2x

Existing Inverse High Yield and Investment Grade Corporate Bond ETFs

Short High Yield     SJB    

Markit iBoxx® $Liquid HighYield Index

        -1x

Short InvestmentGrade Corporate

    IGS    

Markit iBoxx® $LiquidInvestmentGrade Index

        -1x

* Before fees and expenses

About ProShares

ProShares is a premier provider of alternative ETFs, with 121 funds and more than $26 billion in assets. ProShares offers the largest family of geared (leveraged and inverse) ETFs.1 ProShares is part of ProFunds Group, which was founded in 1997 and includes more than $32 billion in mutual fund and ETF assets.2

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 6/30/2010.

2 Assets as of 4/1/2011.

These ProShares ETFs seek returns that are either 2x or -1x the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, leveraged and inverse 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 their holdings consistent with their strategies, as frequently as daily, and rebalance if necessary. A rebalancing strategy involves transaction costs and may have tax consequences. For more on correlation, leverage and other risks, please read the prospectus.

Disclosure:

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. Bond values will fall when interest rates rise. High yield bonds may involve greater levels of interest rate, credit, liquidity and valuation risk than for higher-rated instruments. Short ProShares should lose money when their benchmarks or indexes rise. See the prospectus 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 at www.proshares.com.

The Markit iBoxx® $ Liquid High Yield Index is a modified market-value weighted index designed to provide a balanced representation of U.S. dollar-denominated high yield corporate bonds for sale within the United States by means of including the most liquid high yield corporate bonds available as determined by the index provider. The Markit iBoxx® $ Liquid Investment Grade Index is a modified market-value weighted index designed to provide a balanced representation of U.S. dollar-denominated investment grade corporate bonds publicly offered in the United States by means of including the most liquid investment grade corporate bonds available as determined by the index provider. iBoxx® is a registered trademark of Markit Indices Limited and has been licensed for use by ProShares. Markit does not approve, endorse or recommend ProShares Ultra High Yield, ProShares Ultra Investment Grade Corporate, ProShares Short High Yield or ProShares Short Investment Grade Corporate, and Markit makes no representation regarding the suitability of investing in any ProShares ETF.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with ProShare Advisors.