ProShares, a premier provider of alternative exchange traded funds (ETFs), announced today the launch of ProShares Short Euro (NYSE: EUFX), the first -1x euro ETF in the United States. The ETF lists on NYSE Arca today.

EUFX seeks to provide -1x the daily performance of the U.S. dollar price of the euro, before fees and expenses.

“Concerns over Europe have driven nearly $1 billion1 of assets into our -2x euro ETF, EUO, since its launch less than four years ago,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. “We are launching EUFX in response to investor requests for an additional variation of an ETF with inverse exposure to the euro.”

ProShares’ lineup of euro ETFs:

About ProShares

Offering the nation’s largest lineup of alternative ETFs,2 ProShares enables investors to go beyond the limitations of conventional investing and meet today’s market challenges. Each ProShares ETF provides access to an alternative investment strategy delivered with the liquidity, transparency and cost effectiveness of an ETF. ProShares’ current lineup of 134 ETFs includes Global Fixed Income, Hedge Strategy, Geared (leveraged and inverse), and Inflation and Volatility ETFs.

1 $902 million of assets as of June 25, 2012.

2 Source: FRC. As of March 31, 2012.

These Short or Ultra ProShares ETFs seek returns that are 2x, -1x or -2x of 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, 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 ProShares holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

Currency ProShares ETFs are not investment companies regulated under the Investment Company Act of 1940 and are not afforded its protections. Investing in these ETFs involves a substantial risk of loss. These ETFs may not be suitable for all investors. ProShares are non-diversified and each entails certain risks, which may include 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. There are additional risks due to debt levels in the underlying countries, inflation and interest rates, investment activity, and global political and economic concerns. Certain derivative instruments will subject the fund to counterparty risk and credit risk, which could result in significant losses for the fund. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProShares ETF will achieve its investment objective. These funds generate K-1 tax forms.

This information must be accompanied or preceded by a current ProShares Trust II prospectus available here (http://www.proshares.com/trust_II). ProShares Trust II (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 website at sec.gov. Alternatively, the issuer will arrange to send you the prospectus if you request it by calling toll-free 866.776.5125, or visit ProShares.com.

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