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Rydex Investments Launches New Euro Currency Exchange Traded Product on New York Stock Exchange

Rydex Investments Launches New Euro Currency Exchange Traded Product on New York Stock Exchange

ROCKVILLE, MD -- (MARKET WIRE) -- 12/12/05 -- Rydex Investments today announced that shares of the Euro Currency Trust, a currency-based exchange-traded product, will begin trading today on the New York Stock Exchange. Shares of the Trust will be called "Euro CurrencyShares(SM)" and trade under the ticker symbol FXE. Euro CurrencyShares will track the price of the euro. The Trust has registered 17,000,000 Euro CurrencyShares, which each represent approximately 100 euro. The proposed maximum aggregate offering price is approximately $2.0 billion. Bear Hunter Structured Products, LLC, Bear, Stearns & Co., Lehman Brothers, Inc. and UBS Securities LLC are Authorized Participants and may purchase and redeem Euro CurrencyShares directly from the Trust in large blocks called baskets. It is expected that the Euro CurrencyShares will be offered and sold to the public by Authorized Participants at varying prices in U.S. dollars to be determined by reference to, among other things, the market price of the euro and the trading price of the Euro CurrencyShares on the New York Stock Exchange at the time of each sale.

The sponsor of the Euro Currency Trust is Rydex Specialized Products LLC, d/b/a Rydex Investments. The distributor of the Euro CurrencyShares is Rydex Distributors, Inc. The Bank of New York is the trustee of the Trust and JPMorgan Chase Bank, N.A., London branch, is the depository of the Trust.

A registration statement relating to the Euro CurrencyShares has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell nor a solicitation of an offer to buy Euro CurrencyShares, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such state or jurisdiction. The offering of these securities will be made only by means of a prospectus. A copy of the final prospectus related to these securities may be obtained for free by visiting EDGAR on the SEC web site at or by contacting: Rydex Investments, 9601 Blackwell Road, Suite 500, Rockville, MD, 20850 (800.820.0888).

About Rydex. Rydex Investments, the investment advisor to the Rydex funds, continues to drive change in the financial industry by introducing investment products and services that challenge conventional thinking, empower investors and provide essential new options for uncertain market conditions. Rydex manages $14 billion in assets via 54 mutual funds, including three exchange-traded products, as well as a registered fund of hedge funds. For more information, call 800.820.0888.

Rydex Distributors, Inc., an affiliate of Rydex Investments and Rydex Specialized Products, LLC, is the distributor of the Rydex funds.

Melinda Clore
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