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ProShares UYM Investigation

Proshares Ultra Basic Materials Fund


Murray, Frank & Sailer LLP is investigating claims on behalf of all individuals and institutions who purchased shares in the Ultra Basic Materials Fund (the "UYM Fund") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares's false and misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement") issued in connection with shares of the UYM Fund (the "Class").

The UYM Fund seeks investment results that correspond to twice the daily performance of the Dow Jones U.S. Basic Materials Index (the "Index"). However, although the Index fell only approximately 22.75 percent from its inception to July 30, 2009, the UYM Fund fell approximately 70.51 percent during this period, much more than twice the losses of the Index.

The complaint alleges that Defendants violated the Securities Act by failing to disclose that if UYM Fund shares are held for a time period longer than one day, the performance of those shares does not track the performance of the Index. In addition, the complaint alleges that if UYM Fund shares are held for a time period longer than one day, there is a significant likelihood of catastrophic losses.

Murray, Frank & Sailer LLP is also investigating claims on behalf of investors in all other ProShares leveraged funds (the "Funds"), including:

Fund Ticker
UltraShort QQQ NYSE: QID
UltraShort Russell3000 NYSE: TWQ
UltraShort MidCap400 NYSE: MZZ
UltraShort SmallCap600 NYSE: SDD
UltraShort Russell2000 NYSE: TWM
UltraPro Short S&P500 NYSE: SPXU
UltraShort Russell1000 Value NYSE: SJF
UltraShort Russell MidCap Value NYSE: SJL
UltraShort Russell MidCap Growth NYSE: SDK
UltraShort Russell2000 Value NYSE: SJH
UltraShort Russell2000 Growth NYSE: SKK
UltraShort Consumer Goods NYSE: SZK
UltraShort Consumer Services NYSE: SCC
UltraShort Health Care NYSE: RXD
UltraShort Industrials NYSE: SIJ
UltraShort Semiconductors NYSE: SSG
UltraShort Technology NYSE: REW
UltraShort Telecommunications NYSE: TLL
UltraShort Utilities NYSE: SDP
UltraShort MSCI Europe NYSE: EPV
UltraShort MSCI Pacific ex-Japan NYSE: JPX
UltraShort MSCI Brazil NYSE: BZQ
UltraShort FTSE/Xinhua China 25 NYSE: FXP
UltraShort MSCI Japan NYSE: EWV
UltraShort MSCI Mexico Investable Market NYSE: SMK
UltraShort 7-10 Year Treasury NYSE: PST
UltraShort 20+ Year Treasury NYSE: TBT
UltraShort DJ-UBS Commodity NYSE: CMD
UltraShort Gold NYSE: GLL
UltraShort Silver NYSE: ZSL
UltraShort Euro NYSE: EUO
UltraShort Yen NYSE: YCS
Ultra Dow30 NYSE: DDM
Ultra S&P500 NYSE: SSO
Ultra Russell3000 NYSE: UWC
Ultra MidCap400 NYSE: MVV
Ultra SmallCap600 NYSE: SAA
Ultra Russell2000 NYSE: UWM
UltraPro S&P500 NYSE: UPRO
Ultra Russell1000 Value NYSE: UVG
Ultra Russell1000 Growth NYSE: UKF
Ultra Russell MidCap Value NYSE: UVU
Ultra Russell MidCap Growth NYSE: UKW
Ultra Russell2000 Value NYSE: UVT
Ultra Russell2000 Growth NYSE: UKK
Ultra Consumer Goods NYSE: UGE
Ultra Consumer Services NYSE: UCC
Ultra Health Care NYSE: RXL
Ultra Industrials NYSE: UXI
Ultra Real Estate NYSE: URE
Ultra Semiconductors NYSE: USD
Ultra Technology NYSE: ROM
Ultra Telecommunications NYSE: LTL
Ultra Utilities NYSE: UPW
Ultra DJ-UBS Commodity NYSE: UCD
Ultra DJ-UBS Crude Oil NYSE: UCO
Ultra Gold NYSE: UGL
Ultra Silver NYSE: AGQ
Ultra Euro NYSE: ULE
Ultra Yen NYSE: YCL
Ultra MSCI Emerging Markets NYSE: EET
Ultra FTSE/Xinhua China 25 NYSE: XPP
Ultra MSCI Japan NYSE: EZJ
Ultra FTSE/Xinhua China 25 NYSE: XPP
Ultra MSCI Japan NYSE: EZJ

If you are a member of the class described above, you may move the Court, not later than March 15, 2010, to serve as Lead Plaintiff for the Class. A Lead Plaintiff is a representative chosen by the Court who acts on behalf of other class members in directing the litigation. If you purchased UYM Fund shares, or any of the Fund shares listed above, and wish to discuss this litigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.

Murray, Frank & Sailer LLP
Brian D. Brooks
[email protected]

275 Madison Avenue, Suite 801
New York, NY 10016
Phone: (212) 682-1818
Toll-Free: (800) 497-8076

Fax: (212) 682-1892
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