ProShares Regional Banking ETFs Change Index and Fund Names

ProShares, a premier provider of alternative ETFs, today announced that its regional banking equity ETFs will be changing their benchmark index and fund names, effective April 16, 2015.

The ETFs’ new index, S&P Regional Banks Select Industry Index, is the largest U.S. regional banking index in terms of ETF assets.¹

The ETFs will have the following investment objectives:

• KRU will seek daily investment results, before fees and expenses, that correspond to 2x the daily performance of the S&P Regional Banks Select Industry Index.
• KRS will seek daily investment results, before fees and expenses, that correspond to -1x the daily performance of the S&P Regional Banks Select Industry Index.

No other changes are being made to the ETFs at this time.

About the Index

The S&P Regional Banks Select Industry Index is a modified equal-weighted index that seeks to provide diverse regional banking exposure. The index includes stocks of publicly traded companies that do business as regional banks or thrifts that are listed on a U.S. exchange and meet minimum market capitalization and liquidity conditions.

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 1/31/2015).

These Geared (Short or Ultra) ProShares ETFs seek returns that are either 2x or -1x the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, Geared 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 Geared 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. 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. Short ProShares should lose money when their benchmarks or indexes rise. Narrowly focused investments typically exhibit higher volatility. 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.

The "KBW Regional Banking Index^SM" is a service mark of Keefe Bruyette & Woods, Inc. The "S&P Regional Banks Select Industry Index” is a product of S&P Dow Jones Indices LLC and its affiliates. Both have been licensed for use by ProShares. "S&P^®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones^®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by these entities and their affiliates as to their legality or suitability. ProShares based on these indexes are not sponsored, endorsed, sold or promoted by these entities or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

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

¹ The S&P Regional Banks Select Industry Index is followed by the largest regional banking ETF in the United States, KRE, which has over $1.8 billion in assets under management, representing approximately 65% of regional bank ETF assets (source: ETF Database).