Company Press Release

BOSTON, MA--(Marketwire - April 16, 2009) - Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, is pleased to announce the addition of four new Direxion Shares 3x ETFs to their existing lineup of 16 multi-directional, leveraged funds. The new ETFs are leveraged Bull and Bear index funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses), of the NYSE Current 10- and 30-Year U.S. Treasury Indexes. There is no guarantee that the funds will achieve their objective.

"By offering these kinds of innovative investment solutions, we continually seek to provide investors with tools for navigating today's volatile markets," stated Dan O'Neill, Direxion Shares' President. "We believe that these four new ETFs further our efforts to meet investor demand for tactical tools designed for active portfolio management, now specific to the Treasury markets."

Many sophisticated advisors and institutional investors are using Direxion 3x ETFs to magnify their daily market perspective, while others are using the Funds to implement short-term hedge positions in their portfolios. The 20 Direxion Shares ETFs represent the highest amount of leverage currently available in the ETF space.

The NYSE Current 10- and 30-Year U.S. Treasury Indexes measure the performance of the long-term segment of the Treasury market. "We will continue to further expand and enhance our ETF lineup with such unique products," continued O'Neill. "This strategic move to offer leveraged Treasury ETFs is another example of our commitment to developing tools designed to help meet the demand of the tactically minded investor attempting to mitigate portfolio risk and opportunity."

The four new Direxion ETFs are:

Direxion Daily 10-Yr Treasury Bull 3x Shrs (TYD), which magnifies the NYSE 10-Yr U.S. Treasury Index by 300 percent;

Direxion Daily 30-Yr Treasury Bull 3x Shrs (TMF), which magnifies the NYSE 30-Yr U.S. Treasury Index by 300 percent;

Direxion Daily 10-Yr Treasury Bear 3x Shrs (TYO), which magnifies the NYSE 10-Yr U.S. Treasury Index by -300 percent;

and Direxion Daily 30-Yr Treasury Bear 3x Shrs (TMV), which magnifies the NYSE 30-Yr U.S. Treasury Index by -300 percent.

Effective immediately, Direxion Shares will change the name of all of the Funds to include the word "daily." This update will better reflect the fact that these funds seek daily investment goals and should be used strictly as short term trading vehicles.

By providing both a Bull and a Bear fund to track each of the indexes, Direxion gives seasoned investors the ability to seek competitive returns in rising and falling markets across a wide spectrum of diversified assets. The ETF structure allows investors to benefit from the intra-day trading flexibility, coupled with the leveraged investment solution that Direxion is known for in the mutual fund industry.

To request more information on Direxion Shares 3x ETFs, or to speak to a member of the Direxion team, please contact Melinda Staab at (973) 400-1341 or melinda@jcpublicrelations.com.

About Direxion

Direxion Shares and Direxion Funds, managed by Rafferty Asset Management, LLC, offer leveraged index funds, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $4.5 billion in assets under management as of 3/31/09. The company's business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners. For more information, please visit www.direxionshares.com.

Disclosure:

The correlation sought by the bull and bear funds is generally a multiple on returns of the index/benchmark. For example, on a given day, the Russell 1000 Index gains 1%, the Direxion Large Cap Bull 3x ETF is managed to gain approximately 3%(3%= 300% of 1%). If the same index decreased 1%, the Direxion Large Cap 3x Bear ETF is managed to gain approximately 3%.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion Shares carefully before investing. The prospectus contains this and other information about Direxion Shares. To obtain a prospectus, please visit www.direxionshares.com. The prospectus should be read carefully before investing.

Investing in index funds may be more volatile than investing in broadly diversified funds. The use of leverage by a fund means the Funds are riskier than alternatives which do not use leverage. The ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. The risks associated with the funds are detailed in the prospectus which include adverse market condition risk, adviser's investment strategy risk, aggressive investment techniques risk, counterparty risk, credit risk, daily correlation risk, daily rebalancing and market volatility risk, interest rate risk, inverse correlation risk, leverage risk, market risk, non-diversification risk, shorting risk, tracking error risk, debt instrument risk, regulatory risk, gain limitation risk, U.S. government securities risk, and special risks of exchange-traded funds.

The NYSE Current 10 Year U.S. Treasury Index is a one-security index comprised of the most recently issued 10-Year Treasury Note. Notes eligible for inclusion must be U.S. dollar-denominated Treasury notes with a fixed rate, non-zero coupon that are non-callable with a maturity of 10 years at issuance. The NYSE Current 30 Year U.S. Treasury Index is a one-security index comprised of the most recently issued 30-Year Bond. Bonds eligible for inclusion must be U.S. dollar-denominated Treasury bonds with a fixed rate, non-zero coupon that are non-callable with a maturity of 30 years at issuance. Direxion Shares are not sponsored, endorsed, sold or promoted by NYSE Euronext and NYSE Euronext makes no representation regarding the advisability of investing in the funds. All rights reserved. Indexes are unmanaged and cannot be invested in directly.

Distributor: Foreside Fund Services, LLC.


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