SOURCE: PowerShares Capital Management

June 23, 2005 14:41 ET

PowerShares Capital Management Launches Eight New Industry Group ETF Portfolios

CHICAGO, IL -- (MARKET WIRE) -- June 23, 2005 -- PowerShares Capital Management LLC, an asset management firm specializing in the development and management of Exchange Traded Funds (ETFs), will launch eight new "Intelligent ETF" portfolios that give investors exposure to a unique group of stocks based on industry groups. Below are the new ETF names and ticker symbols.

--  PowerShares Dynamic Biotech & Genome Portfolio (AMEX: PBE)
--  PowerShares Dynamic Food & Beverage Portfolio (AMEX: PBJ)
--  PowerShares Dynamic Leisure & Entertainment Portfolio (AMEX: PEJ)
--  PowerShares Dynamic Media Portfolio (AMEX: PBS)
--  PowerShares Dynamic Networking Portfolio (AMEX: PXQ)
--  PowerShares Dynamic Pharmaceuticals Portfolio (AMEX: PJP)
--  PowerShares Dynamic Semiconductors Portfolio (AMEX: PSI)
--  PowerShares Dynamic Software Portfolio (AMEX: PSJ)
    
The PowerShares industry group portfolios are "Intelligent ETFs" based on Intellidex indexes which, unlike traditional benchmark based ETFs, incorporate advanced quantitative methodologies to discriminate between securities and select the stocks within an industry group identified as having the greatest capital appreciation potential. In contrast, traditional ETF's tracks benchmark indexes that select stocks primarily for representation, regardless of their investment merit.

PowerShares Capital Management, LLC

PowerShares Capital Management, LLC provides institutional caliber asset management and market exposure through the replication of enhanced indexes. PowerShares delivers this sophisticated asset management in one of the more benefit-rich investment vehicles available 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.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. A prospectus which contains more complete information about PowerShares, including, risks, fees and expenses can be obtained by visiting the PowerShares web site at www.PowerShares.com or by calling 800-THE-AMEX. The prospectus should be read carefully before investing.

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