SOURCE: PowerShares Capital Management

May 03, 2006 06:00 ET

PowerShares Strengthens Management Team With State Street Executive

CHICAGO, IL -- (MARKET WIRE) -- May 3, 2006 --PowerShares Capital Management LLC announced today the hiring of Robert C. Brooks, CIMA, as Senior Vice President/National Sales Manager, further strengthening its senior management team.

"Bobby's move to PowerShares is a tremendous win for us. His extensive financial sales management experience has uniquely equipped him with the ability to significantly contribute to PowerShares' aggressive growth goals," said PowerShares President Bruce Bond. "His extensive experience selling a broad product mix including ETFs, mutual funds and separately managed accounts will bring tremendous value as we integrate PowerShares with the enormous global distribution capability of Amvescap and AIM."

Mr. Brooks has more than 14 years of industry experience focusing in financial sales management. He previously served as Principal and National Sales Manager for State Street Global Advisors. Prior to State Street, Mr. Brooks was Senior Vice President Director of Sales at Van Kampen Investments, where he was responsible for sales and marketing efforts.

PowerShares Capital Management LLC is passionate about our goal of efficiently delivering the highest quality institutional investment management available. In this pursuit of investment excellence, the PowerShares XTFs were created. PowerShares provide institutional caliber asset management in an Exchange Traded Fund through the replication of enhanced and intelligent indexes. PowerShares is an asset management company committed to theoretically sound portfolio construction and empirically verifiable investment management approaches. PowerShares' asset management philosophy and investment disciplines 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 or by calling 800-983-0903. The prospectus should be read carefully before investing.

ALPS Distributors, Inc. is the distributor of the PowerShares Exchange Traded Fund Trust.

For more information on PowerShares Exchange Traded Funds contact

Contact Information

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