JPMorgan Worldwide Securities Services serves as depository for new investment tool
New York, May 24, 2006 - JPMorgan Worldwide Securities Services, the leading global provider of securities services, today announced that the Euro Currency Trust now has more than $700 million in assets. JPMorgan serves as depository for the Trust, the issuer of a currency-based exchange-traded product that trades on the New York Stock Exchange under the ticker symbol FXE.
Euro CurrencyShares is the first and only currency-based exchange-traded product that gives investors the opportunity to buy, sell or hold securities representing interests in euros through their traditional brokerage accounts. Euro CurrencyShares, which track the price of the euro, was launched in December 2005 and has assets of over $739,500,000 as of May 19, 2006.
"Currencies are the ultimate asset class and the FXE represents the first foray into this field for the NYSE," said Dan McCabe, CEO, Bear Hunter Structured Products, LLC. "This product brings both transparency and access to one of the largest markets in the world, so we are not surprised that FXE has become popular so quickly. We expect FXE to continue to see dramatic increases in both volume and assets as investors become even better acquainted with its many advantages."
"Financial professionals have taken advantage of the ability to access euro currency, while benefiting from consistent income distributions as a result of competitive euro currency interest rates," said Tim Meyer, Rydex Investments ETF business line manager. "The fact that Euro CurrencyShares is one of the fastest-growing ETFs is testament to the demand for a currency-based exchange-traded product."
"JPMorgan is delighted to see such a positive response to Euro CurrencyShares," said Phyllis Schroder, Vice President of New Business Development for JPMorgan Worldwide Securities Services. "We are pleased to have created history with this new product and look forward to continuing to support its growth."
JPMorgan has an established group of professionals dedicated to supporting all the needs of exchange traded funds. We offer custody, accounting and administrative services, portfolio trading, ETF sales, specialized ETF research and serve as an Authorized Participant for all major ETFs. Along with leading analytic trading and portfolio management technology and as a
leader in equity derivatives, JPMorgan is well positioned to support client's research and execution needs.
The sponsor of the Euro Currency Trust is Rydex Specialized Products LLC, d/b/a Rydex Investments. The distributor of the Euro CurrencyShares is Rydex Distributors, Inc. The Bank of New York is the trustee of the Trust, and JPMorgan Chase Bank, N.A., London branch, is the depository of the Trust. For more information on JPMorgan and ETFs, go to
www.jpmorgan.com/visit/ETF.
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is the global industry leader with $11.7 trillion in assets under custody. JPMorgan provides innovative custody and securities products and services to the world's largest institutional investors and debt and equity
issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 80 markets to help clients optimize efficiency, mitigate risk and enhance revenue through custody and investor services as well as securities clearance and trust services.
About Rydex Investments
Rydex Investments continues to drive change in the financial industry by introducing investment products and services that challenge conventional thinking, empower investors and provide essential new options for uncertain market conditions. Rydex manages $14 billion in assets via more than 60 mutual funds and exchange traded products.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent
corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at
www.jpmorganchase.com.
Euro Currency Trust shares are subject to risks similar to those of stocks and may not be suitable for all investors. Investors should consider the investment objectives, risks, charges and expenses of this product carefully before investing. The prospectus contains this and other information about the product. Please read the prospectus, including the Risk Factors section carefully before you invest. Shares can be bought and sold through a broker and the selling shareholder may have to pay brokerage commissions in connection with the sale. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Shares may only be redeemed directly from the Trust by Authorized Participants via Baskets (as defined in the prospectus). There can be no assurance that an active trading market for the shares will develop or be maintained. The value of the shares relates directly to the value of the euro held by the Trust. For a more complete discussion of risk factors applicable to the Trust, carefully read the prospectus. Rydex Distributors, Inc., an affiliate of Rydex Investments and Rydex Specialized Products, is the distributor of Rydex funds. Rydex Specialized Products LLC, d/b/a Rydex Investments, is the sponsor of Euro Currency Trust.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. A copy of the prospectus may be obtained directly by accessing http://www.rydexfunds.com/campaigns/currencyshares/prospectus_currencyshares.pdf. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-820-0888.
