Rydex S&P Equal Weight ETF and Rydex Russell Top 50 ETF Generate Zero Capital Gains Distributions in 2006

Market Wire, December, 2006

Rydex Investments announced today that its flagship ETFs -- Rydex S&P® Equal Weight ETF (AMEX: RSP) and Rydex Russell Top 50 ETF® (AMEX: XLG) did not issue capital gains, reducing investors' potential exposure to capital gains taxes. This marks the fourth consecutive year that Rydex S&P Equal Weight ETF did not issue capital gains and the second consecutive year that Rydex Russell Top 50 ETF did not issue capital gains.

"Taxes can rob more than 20% of investment returns, so tax-efficient ETFs continue to be a smart choice for investors," said Stephen Sachs, Rydex Investments' director of trading. "Investors need not sacrifice performance and diversification for tax efficiency."

Both Rydex S&P Equal Weight ETF and Rydex Russell Top 50 ETF have seen record asset flows in 2006 and have hit new price highs. "Our flagship ETFs have produced solid performance numbers in 2006, both reaching record-high NAVs in late November," said Tim Meyer, Rydex ETF business manager. "These two ETFs have been popular because they provide investors with access to broad-based market indices and can be utilized as a core investment in a wide range of investment portfolios."

                                             Average Annual Total
                                           Returns as of 11/30/2006
                    Assets as   Inception  1-year  3-year  Since
                    of 11/30/06  date                       inception
Rydex S&P Equal
 Weight ETF         $1.834      4/24/2003  15.42%  14.70%  19.88%(2)
 (Market Close)      billion
Rydex S&P Equal     $1.834      4/24/2003  15.34%  14.73%  20.16%(2)
 Weight ETF (NAV)    billion
S&P 500® Index(1)   --          --         14.23%  11.78%  14.73%(2)
S&P Equal Weight    --          --         15.84%  15.14%  20.65%(2)
 Index(1)
Rydex Russell
 Top 50 ETF         $461        5/4/2005   14.47%  --      12.34%(3)
 (Market Close)      million
Rydex Russell       $461        5/4/2005   14.46%  --      11.43%(3)
 Top 50 ETF (NAV)    million
Russell Top 50      --          --         14.79%  --      11.73%(3)
 Index(1)

Performance displayed represents past performance, which is no guarantee of future results.

Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Total returns reflect the reinvestment of all dividends. Current performance may be lower or higher than the performance data quoted. For up-to-date fund performance, including performance current to the most recent month-end, visit the Rydex Investments web site at www.rydexinvestments.com . For additional information, see the fund's prospectus. The returns do not reflect any management fees, transaction costs or expenses. Net asset value (NAV) is calculated by subtracting total liabilities from total assets, then dividing by the number of shares outstanding. Market close is the last price at which shares are traded. Fund shares may trade at, above or below NAV.

(1) The index is unmanaged and not available for direct investment. The
    S&P 500 is shown as a comparison to broad market performance.
(2) Returns are for the period 4/24/03-11/30/06 (since inception of Rydex
    S&P Equal Weight ETF).
(3) Returns are for the period 5/4/05-11/30/06 (since inception of Rydex
    Russell Top 50 ETF).

Rydex S&P Equal Weight ETF tracks the S&P Equal Weight Index, which includes the same stocks as the well-known S&P 500. Unlike the S&P 500, which is capitalization-weighted, the S&P Equal Weight Index is equal-weighted. Each of the 500 stocks is represented equally, instead of by the size of its market capitalization, eliminating the bias toward large-cap companies.

Conversely, Rydex Russell Top 50 ETF tracks the Russell Top 50 Index, which is made up of the 50 largest U.S. companies by market capitalization. Offering pure mega-cap exposure through Russell's objective methodology, Rydex Russell Top 50 ETF does not attempt to balance or diversify the index by including smaller companies.

"The Russell Top 50 Index has increased 15.7% year-to-date through November, surpassing the broader large-cap indexes by nearly two percentage points," said Rolf Agather, director of business development for Russell Indexes. "This index gives active managers a much more robust tool to evaluate the very largest U.S. companies and, thanks to Rydex, all investors have an efficient way to invest in this dynamic market segment."

The Russell Top 50 ETF has the potential to outperform in periods of mega-cap rallies. The fund is also a direct complement to Rydex S&P Equal Weight ETF.

About Rydex

Rydex Investments 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 more than 60 mutual funds and exchange traded products.

For more complete information regarding Rydex funds call 800.820.0888 or visit www.rydexinvestments.com for a prospectus. Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. The fund's prospectus contains this and other information about the fund. Please read the prospectus carefully before you invest or send money. The funds are considered non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause great fluctuations in the value of fund shares than would occur in a more diversified fund.