| New York, December 20, 2006 -
The American Stock Exchange (Amex) today announced that it has launched trading in the following new exchange traded funds (ETFs) from PowerShares Capital Management LLC (PowerShares): the PowerShares Dynamic Deep Value Portfolio, PowerShares Dynamic Aggressive Growth Portfolio and PowerShares Buyback Achievers Portfolio.
"The American Stock Exchange is proud once again to be partnering with PowerShares to launch these three new and innovative ETFs," said Cliff Weber, Senior Vice President of the Amex ETF Marketplace. "These new ETFs increase the number of PowerShares' listings on the Amex to 58."
The PowerShares Dynamic Deep Value Portfolio (SYMBOL: PVM) seeks investment results that correspond generally to the price and yield of the Dynamic Deep Value Intellidex Index (SYMBOL: ILU). The index consists of approximately 100 U.S. deep value securities selected by the Amex on the basis of their capital appreciation potential.
The PowerShares Dynamic Aggressive Growth Portfolio (SYMBOL: PGZ) seeks investment results that correspond generally to the price and yield of the Dynamic Aggressive Growth Intellidex Index (SYMBOL: ILR). The index consists of approximately 100 U.S. aggressive growth securities selected by the Amex on the basis of their capital appreciation potential.
The PowerShares Buyback Achievers Portfolio (SYMBOL: PKW) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (SYMBOL: DRB). The index consists of approximately 167 companies selected by Mergent, Inc. To qualify for inclusion in the index, an issuer must have repurchased at least 5% of its outstanding shares for the trailing 12 months, be incorporated in the U.S. or a U.S. territory, and trade on a national securities exchange.
"We are very pleased to expand the PowerShares family of ETFs with three unique compelling portfolios," said Bruce Bond, President of PowerShares. "The Aggressive Growth and Deep Value Portfolios will appeal to ETF investors seeking exposure to these targeted investment themes. The Buyback Achievers Portfolio offers investors diversified access to companies that have strong earnings growth and are focused on creating shareholder value through share buybacks."
LaBranche Structured Products, LLC is the specialist for PKW and PGZ and has also been selected to trade options on these two products.
Goldman Sachs Execution & Clearing, LP is the specialist for PVM. Susquehanna Investment Group will trade options on PVM.
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