ProShares Selects JPMorgan To Help Launch 12 More ETFs

JPMorgan supplies administration services for all 52 ProShares funds

New York, February 22, 2007 – ProShare Advisors has selected JPMorgan to provide fund administration services for the launch of 12 new ProShares Exchange Traded Funds (ETFs), which will begin trading on the American Stock Exchange today.

JPMorgan Worldwide Securities Services will supply a full range of services including fund accounting, fund administration and custody services. The fund accounting, fund administration and regulatory services will be provided by JPMorgan’s U.S. Fund Services unit, which is based in Boston.

JPMorgan will support ProShares’ 12 latest ETFs and already supports 40 funds, all of which are based on built-in short or magnified exposure to well-known indexes, ranging from broad based, small cap, mid cap, large cap to sector and style.

“ProShares selected JPMorgan for a full range of fund services for our entire family of ETFs because they are experienced, innovative and provide quality customer service,” said Michael Sapir, CEO of ProShare Advisors LLC.

“JPMorgan is gratified that ProShares recognized the advantages of working with a firm that can provide an extensive global franchise, wide ranging capabilities and staff with deep industry experience,” said Mark Kelley, head of U.S. Fund Services for JPMorgan Worldwide Securities Services.

JPMorgan has an established group of professionals dedicated to supporting all the needs of exchange traded funds. The firm offers 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 clients’ research and execution needs.

For more information on JPMorgan and ETFs, go to http://www.jpmorgan.com/visit/ETF

About JPMorgan Worldwide Securities Services

JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $13.9 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world’s largest institutional investors, alternative asset managers and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 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.

Contact Information

Judith B. Miller

JPMorgan Chase & Co.

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