Opinion on  Claymore/BNY BRIC ETF (EEB)
One stop shop for BRIC

Top Fund Country Weightings as of 3/31/08

Top Fund Sector Weightings as of 3/31/08

Index Methodology

The BNY BRIC Index tracks the performance of U.S. exchange-listed depositary receipts in ADR or GDR form that are listed for trading on the New York Stock Exchange (“NYSE”), AMEX and Nasdaq Stock Market (“NASDAQ”) of companies from Brazil, Russia, India and China, which meet certain criteria.The universe of potential Index constituents includes all liquid U.S. exchange-listed ADRs and GDRs. As of the date of this Prospectus, the BNY BRIC Index’s constituent countries are represented (in approximate market capitalization) in the Index as follows: 48% of the Index consists of Brazilian companies, 6% of the Index consists of Russian companies, 10% of the Index consists of Indian companies and 36% of the Index consists of Chinese companies.

Index Construction

1. Eligible securities include all ADRs and GDRs of companies from Brazil, Russia, India and China, which are included in BNY’s ADR indices specific to Brazil, Russia, India and China, respectively, and which meet the following criteria:
   • Price greater than or equal to $3.
   • Minimum 3 month average daily ADR trading volume greater than or equal to 25,000 shares, or 125,000 ordinary shares in the local market. In the case of new ADRs whose both ADR and ordinary volume is less than 3 months, average daily volume for the available time period will be used in the calculation.
   • Free-float adjusted market capitalization greater than or equal to $250 million.
   • Passive foreign investment companies are excluded based upon the best information available.
2. Decisions regarding additions to and removals from the Index are made by the ADR Index Administrator and are subject to periodic review by a policy steering committee known as The Bank of New York Mellon ADR Index Committee.
3. The Index is weighted based on a modified capitalization method, using an Index formula based upon the aggregate of prices times share quantities. The number of shares used in the Index calculation generally represents the entire class(es) or series of shares adjusted for free-float that trade in the local market and also trade in the form of depositary receipts in the United States.
   Adjustments are made to ensure that no single stock exceeds 23% of the Index and, with respect to 55% of the Index, that no single stock represents more than 4.5% of the Index.
4. The Index may be adjusted for changes in shares and float that may affect the weighting of constituents generally on a quarterly basis.