J.P. Morgan Selected by ProShares to Service Eight Newly Launched International ETFs

NEW YORK, July 1, 2009 – J.P. Morgan Worldwide Securities Services (WSS) today announced that it has been appointed by ProShares, part of ProFunds Group, to service its eight newly launched international exchange traded funds (ETFs). J.P. Morgan WSS already provides custody, fund accounting and fund administration for 64 of ProShares’ equity and fixed income ETFs with total assets of $25 billion. ProShares ETFs serviced by J.P. Morgan now total 72.

ProFunds Group, the world’s largest manager of short and leveraged funds, announced in June that it was launching eight new short and leveraged ProShares ETFs. The new ProShares ETFs, which are listed on the NYSE Arca are: Ultra MSCI EAFE (EFO), Ultra MSCI Emerging Markets (EET), Ultra FYSE/Xinhua China 25 (XPP), Ultra MSCI Japan (EZJ), Ultrashort MSCI Europe (EPV), Ultrashort MCSI Pacific ex-Japan (JPX), Ultrashort MSCI Brazil (BZQ), and MSCI Mexico Investable Market (SMK).

Chris Lynch, Western Hemisphere sales and client executive for J.P. Morgan Worldwide Securities Services, said: “We enjoy an excellent relationship with ProShares that we have cultivated over the years. J.P. Morgan has a history of innovation in the ETF space and we look forward to working with ProShares on their newly launched ETFs.”

J.P. Morgan offers a full suite of services for the development, launch and servicing of ETFs. Industry-wide, J.P. Morgan currently services 94 ETFs with total assets of over $55 billion.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and Washington Mutual brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $13.5 trillion in assets under custody and $3.7 trillion in assets under administration. For more information, go to www.jpmorgan.com/visit/wss.

About ProFunds Group
ProFunds Group includes 88 ProShares short and leveraged ETFs, and 115 ProFunds mutual funds. ProShares, which introduced the first short and leveraged ETFs in 2006, continues to be a leader in launching innovative new products—for two years in a row, ProShares has led the industry in attracting assets to newly launched ETFs and now is the fourth largest manager of ETFs in the nation. Since 1997, ProFunds mutual funds have provided investors with access to sophisticated investment strategies, with offerings that include funds that seek to magnify daily index performance and funds that seek to increase in value when markets decline. The group also manages the Canada-based Horizons BetaPro ETFs.