SOURCE: PowerShares Capital Management

December 15, 2006 17:55 ET

/ CORRECTION - PowerShares to Launch Three ETFs on the Amex December 20, 2006

CHICAGO, IL -- (MARKET WIRE) -- December 15, 2006 -- In the news release issued earlier today by PowerShares Capital Management, we are advised by the company that the second line underneath the first paragraph should read "PGZ -- PowerShares Dynamic Aggressive Growth Portfolio" rather than "PXG -- PowerShares Dynamic Aggressive Growth Portfolio" as originally issued. Complete corrected text follows.

PowerShares to Launch Three ETFs on the Amex December 20, 2006

CHICAGO, IL -- December 15, 2006 -- PowerShares Capital Management LLC continues Leading the Intelligent ETF Revolution® announcing today the expected launch of three new exchange-traded funds (ETFs) on the American Stock Exchange (Amex) Wednesday, December 20, 2006. The ETF names and anticipated ticker symbols are listed below:

PVM -- PowerShares Dynamic Deep Value Portfolio

PGZ -- PowerShares Dynamic Aggressive Growth Portfolio

PKW -- PowerShares Buyback Achievers(TM) Portfolio
The PowerShares Deep Value Portfolio consists of approximately 100 U.S. deep value securities selected from a deep value universe based on the highest-ranking cumulative score within. The methodology is designed to objectively identify those stocks within the deep value market segment that have the greatest potential for capital appreciation. The methodology evaluates companies quarterly, based on a variety of criteria, including fundamental growth, stock valuation, investments and risk factors, and then ranks and sorts them based on their cumulative scores.

The PowerShares Aggressive Growth Portfolio consists of approximately 100 U.S. aggressive growth securities selected from an aggressive growth universe based on the highest-ranking cumulative score within. The methodology is designed to objectively identify those stocks within the aggressive growth market segment that have the greatest potential for capital appreciation. The methodology evaluates companies quarterly, based on a variety of criteria, including fundamental growth, stock valuation, investments and risk factors, and then ranks and sorts them based on their cumulative scores.

The PowerShares Buyback Achievers™ Portfolio consists of approximately 167 companies selected by Mergent®, Inc. pursuant to a proprietary Buyback Achievers selection methodology. To qualify as a stock included in the universe of "Buyback Achievers™," an issuer must have repurchased at least 5% of its outstanding shares for the trailing 12 months. A company must be incorporated in the United States or a U.S. territory, trade on the NYSE, NASDAQ or AMEX to qualify for inclusion in the Buyback Achievers™ Index. The PowerShares Buyback Achievers™ Portfolio is rebalanced quarterly.

"We are very pleased to expand the PowerShares family of ETFs with three unique compelling portfolios," said Bruce Bond, President of PowerShares Capital Management. "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 with strong earnings growth focused on creating shareholder value through share buybacks."

PowerShares Capital Management LLC is passionate about its goal of efficiently delivering the highest quality institutional investment management services available. PowerShares is Leading the Intelligent ETF Revolution® providing investment advisors with institutional caliber asset management that seeks to replicate enhanced indexes in one of the more benefit rich investment vehicles available in the marketplace today, the exchange-traded fund. The firm is committed to theoretically sound portfolio construction and empirically verifiable investment management approaches. PowerShares' asset management philosophy and investment discipline are deeply rooted in the application of intuitive factor analysis and model implementation to enhance investment decisions.

Risks of Owning PowerShares

PowerShares Funds are made up of publicly traded securities that can and will move higher and lower with market movements. You should anticipate that the value of the shares of each fund will advance or decline more or less in correlation with the advance or decline in value of the applicable index. The Funds are not actively managed, and shares of the Funds may trade at or below the Funds' NAV. Exchange-traded funds are subject to risks similar to those of stocks, including risks associated with short-selling and margin account maintenance. Ordinary brokerage commissions apply.

A I M Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust.

An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. For this and more complete information about the Fund, call 800.983.0903 or visit the website www.powershares.com for a prospectus. Please read the prospectus carefully before investing.

The information in this prospectus is not complete and may be changed. The portfolio may not sell its shares until the registration statement filed with the Securities and Exchange Commission is effective. The prospectus is not an offer to sell the portfolio shares, nor is the portfolio soliciting an offer to buy its shares in any jurisdiction where the offer or sale is not permitted.

Contact Information

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