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Direxion conducts forward share split of five ETFs

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Direxion, a provider of alternative investment strategies to sophisticated investors, is carrying out a forward split of the shares on five of its existing exchange-traded funds.

Direxion will conduct a four-for-one split of Daily Emerging Markets Bull 3x Shares, Daily Real Estate Bull 3x Shares and Daily Technology Bull 3x Shares.

In addition, Direxion will conduct a three-for-one split of Daily Financial Bull 3x Shares and Daily Mid Cap Bull 3x Shares.

Shareholders of record as of the close of business on 30 April 2010, should expect to receive the additional shares after the close of business on 4 May 2010. The shares are expected to trade at post-split prices beginning on 5 May 2010.

As a result of the forward split, shareholders will receive three additional shares of the respective fund for every one share owned of the Daily Emerging Markets Bull 3X Shares, Daily Real Estate Bull 3x Shares and Daily Technology Bull 3x Shares.

Accordingly, the number of each of these ETF shares issued and outstanding will increase four-fold and the ETF’s per-share net asset value will decrease by approximately 75 per cent.

Similarly, shareholders will receive two additional shares of the respective fund for every one share owned of the Daily Financial Bull 3x Shares and Daily Mid Cap Bull 3x Shares. The number of each of these ETF shares issued and outstanding will increase three-fold and the fund’s per-share NAV will decrease approximately 67 per cent.

The shares of each ETF will begin trading on a split-adjusted basis on 5 May 2010. The total market value of a shareholder’s investment will not be affected.

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