SOURCE: PowerShares Capital Management

September 08, 2005 16:24 ET

PowerShares Strengthens Senior Management Team With the Addition of Benjamin Fulton and Edward McRedmond

CHICAGO, IL -- (MARKET WIRE) -- September 8, 2005 -- PowerShares Capital Management, LLC today announced that it has recently strengthened its senior management team with the addition of two highly regarded industry veterans. Benjamin Fulton, 43, was named Senior Vice President of Product Development and Edward McRedmond, 45, has been named Senior Vice President of Portfolio Strategy.

"The broad industry experience and deep product knowledge of Ben Fulton and Ed McRedmond bring tremendous value to PowerShares. They are ideally suited to help us accomplish the many exciting opportunities which lay before us today," said Bruce Bond, Chairman and CEO of PowerShares.

Mr. Fulton brings over 20 years of industry experience to PowerShares. Most recently he was co-founder and president of Claymore Securities, where he oversaw the product development and product management for the firm. Prior to founding Claymore, Mr. Fulton was a managing director at Nuveen Investments in Chicago where he led the product development efforts for the Structured Investments Group and the International and Alternative Division of Nuveen. Mr. Fulton also served as a senior vice president for product development for First Trust Portfolios during the most aggressive product introduction and asset growth phase of the firm's history.

Mr. McRedmond brings more than 22 years of financial industry experience to PowerShares. He joins PowerShares after 17 years at A.G. Edwards, where he was Associate Vice President and a member of the Allocation Advisors Investment Committee. While at A.G. Edwards, Mr. McRedmond also served as senior analyst covering exchange-traded funds and closed-end funds and was a key part of the team that launched and managed A.G. Edwards' discretionary ETF wrap portfolios. Prior to joining A.G. Edwards, Mr. McRedmond was a supervisor at Charles Schwab's Active Trader group.

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 were created. PowerShares provide institutional caliber asset management in an Exchange Traded Fund through the replication of enhanced and intelligent indexes. PowerShares Capital Management, LLC, is an asset management company 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.

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