ProShares, the nation’s fourth most successful exchange traded fund (ETF) company,1 announced today the launch of ProShares UltraPro Short 20+ Year Treasury (NYSE: TTT). The ETF lists on NYSE Arca today.

TTT seeks to provide -3x the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index, before fees and expenses. TTT is the third ProShares ETF providing inverse exposure to long-term Treasurys. In addition to TTT, ProShares offers the popular -2x and -1x long-term Treasury ETFs, ProShares UltraShort 20+ Year Treasury (NYSE: TBT) and ProShares Short 20+ Year Treasury (NYSE: TBF).

“Interest in TBT and our other inverse Treasury ETFs has been strong, with many investors concerned about the potential for rising rates,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. “We are pleased to add TTT to our lineup of ETFs for investors seeking to help hedge against or potentially benefit from declines in long-term Treasurys.”

ProShares introduced the first inverse Treasury bond ETFs in April 2008. The firm has nearly $5 billion of assets in inverse ETFs on long-term Treasury bonds.

About ProShares

ProShares is the country’s fourth most successful exchange traded fund (ETF) company,1 with 132 funds and nearly $23 billion in assets.2 ProShares’ lineup includes the largest family of geared (leveraged and inverse) ETFs.3 ProShare Advisors and ProShare Capital Management are affiliated with ProFund Advisors, which was founded in 1997. Together, they manage more than $26 billion in ETF and mutual fund assets.2

1 Source: Financial Research Corporation, based on analysis of organic net sales of U.S. exchange traded products (as of 6/30/2011). Includes products launched by their current management company; excludes products acquired through purchase or merger.

2 Assets as of 12/31/2011.

3 Source: Lipper, based on a worldwide analysis of all known providers of funds in these categories. The analysis covered ETFs and ETNs by the number of funds and assets (as of 6/30/2011).

This Short ProShares ETF seeks a return that is -3x the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next, before fees and expenses. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their ProShares holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

Investing involves risk, including the possible loss of principal. These Funds 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. Short ProShares should lose money when their benchmarks or indexes rise. Bonds will decrease in value as interest rates rise. 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 from your financial adviser or broker/dealer representative or by visiting proshares.com.

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