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ProShares announces ETF share splits and reverse share splits

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ProShares has announced share splits on six of its ETFs and reverse share splits on a further 11 exchange traded funds.

The splits and reverse splits will not change the value of a shareholder’s investment.

ProShares Ultra QQQ, ProShares UltraPro QQQ, ProShares Ultra 20+ Year Treasury, and ProShares Ultra 7-10 Year Treasury, will all split 2-for-1, while ProShares UltraPro Dow30 and ProShares UltraShort DJ-UBS Natural Gas, will split 3-for-1.

All splits will apply to shareholders of record as of the close of the markets on 8 May, 2012, payable after the close of the markets on 10 May, 2012. The funds will trade at their post-split price on 11 May, 2012. The ticker symbol and CUSIP numbers for the funds will not change.

The splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For example, for the 2-for-1 splits, 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

Six funds – ProShares UltraShort Dow30, ProShares UltraPro Short QQQ, ProShares UltraShort MSCI Brazil, ProShares UltraPro Short MidCap400, ProShares UltraShort Consumer Services, and ProShares UltraShort Russell1000 Growth, will reverse split shares 1-for-4.

ProShares UltraPro Short S&P500, ProShares UltraShort Silver, ProShares UltraPro Short Russell2000, ProShares Ultra DJ-UBS Natural Gas, and ProShares UltraShort Russell3000, will all reverse split shares 1-for-5.

All reverse splits will apply to shareholders of record as of the close of the markets on 10 May, 2012. The funds will trade at their post-split prices on 11 May, 2012. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued a new CUSIP number.

The reverse splits will increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for the 1-for-4 reverse splits, every four pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced four times higher than the net asset value ("NAV") of a pre-split share.
 

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