PWZ Invesco California AMTFree Municipal Bond ETF

Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), today announced that it anticipates transferring 79 PowerShares ETFs currently listed on the American Stock Exchange (Amex) to the NYSE Arca listing and trading platform. The move of the PowerShares ETFs comes as a result of the merger of the Amex and NYSE Euronext, the holding company for NYSE Arca. On Oct. 1, 2008, the Amex and NYSE Euronext announced that their transaction had successfully closed. To accommodate one of the largest fund transfers in the history of the exchanges, Invesco PowerShares will bring these funds to NYSE Arca in two phases. It is anticipated that the last trading day on the Amex for most of these PowerShares ETFs will be Friday, Oct. 31, 2008 with Monday, Nov. 3, 2008 being the first trading day on NYSE Arca. It is then anticipated that a second group of the remaining PowerShares ETFs will leave Amex and begin trading on NYSE Arca on or about Nov. 25, 2008. Current shareholders are not required to take any actions as a result of this change.

The entire list of PowerShares ETFs moving to NYSE Arca is provided in the following table:

Ticker
Symbol  PowerShares ETF

PAO     PowerShares Autonomic Balanced Growth NFA Global Asset Portfolio
PBD     PowerShares Global Clean Energy Portfolio
PBE     PowerShares Dynamic Biotechnology & Genome Portfolio
PBJ     PowerShares Dynamic Food & Beverage Portfolio
PBS     PowerShares Dynamic Media Portfolio
PBW     PowerShares WilderHill Clean Energy Portfolio
PCA     PowerShares Autonomic Balanced NFA Global Asset Portfolio
PCY     PowerShares Emerging Markets Sovereign Debt Portfolio
PDN     PowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio
PDQ     PowerShares FTSE RAFI Asia Pacific ex-Japan Small-Mid Portfolio
PEH     PowerShares Dynamic Europe Portfolio
PEJ     PowerShares Dynamic Leisure and Entertainment Portfolio
PEY     PowerShares High Yield Equity Dividend Achievers(TM) Portfolio
PEZ     PowerShares Dynamic Consumer Discretionary Sector Portfolio
PFA     PowerShares Dynamic Developed International Opportunities Portfolio
PFI     PowerShares Dynamic Financial Sector Portfolio
PFM     PowerShares Dividend AchieversTM Portfolio
PFP     PowerShares International Listed Private Equity Portfolio
PGF     PowerShares Financial Preferred Portfolio
PGJ     PowerShares Golden Dragon Halter USX China Portfolio
PGX     PowerShares Preferred Portfolio
PGZ     PowerShares Dynamic Aggressive Growth Portfolio
PHB     PowerShares High Yield Corporate Bond Portfolio
PHJ     PowerShares High Growth Rate Dividend Achievers(TM) Portfolio
PHO     PowerShares Water Resources Portfolio
PHW     PowerShares Dynamic Hardware & Consumer Electronics Portfolio
PIC     PowerShares Dynamic Insurance Portfolio
PID     PowerShares International Dividend Achievers(TM) Portfolio
PIO     PowerShares Global Water Portfolio
PIQ     PowerShares Dynamic MagniQuant Portfolio
PIV     PowerShares Value Line Timeliness(TM) Select Portfolio
PJB     PowerShares Dynamic Banking Portfolio
PJF     PowerShares Dynamic Large Cap Portfolio
PJG     PowerShares Dynamic Mid Cap Portfolio
PJM     PowerShares Dynamic Small Cap Portfolio
PJP     PowerShares Dynamic Pharmaceuticals Portfolio
PKB     PowerShares Dynamic Building & Construction Portfolio
PKW     PowerShares Buyback Achievers(TM) Portfolio
PLW     PowerShares 1-30 Laddered Treasury Portfolio
PMR     PowerShares Dynamic Retail Portfolio
PPA     PowerShares Aerospace & Defense Portfolio
PRN     PowerShares Dynamic Industrials Sector Portfolio
PSI     PowerShares Dynamic Semiconductors Portfolio
PSJ     PowerShares Dynamic Software Portfolio
PSL     PowerShares Dynamic Consumer Staples Sector Portfolio
PSP     PowerShares Listed Private Equity Portfolio
PTE     PowerShares Dynamic Telecommunications & Wireless Portfolio
PTF     PowerShares Dynamic Technology Sector Portfolio
PTH     PowerShares Dynamic Healthcare Sector Portfolio
PTJ     PowerShares Dynamic Healthcare Services Portfolio
PTO     PowerShares Autonomic Growth NFA Global Asset Portfolio
PUA     PowerShares Dynamic Asia Pacific Portfolio
PUI     PowerShares Dynamic Utilities Portfolio
PUW     PowerShares WilderHill Progressive Energy Portfolio
PVI     PowerShares VRDO Tax-Free Weekly Portfolio
PVM     PowerShares Dynamic Deep Value Portfolio
PWB     PowerShares Dynamic Large Cap Growth Portfolio
PWC     PowerShares Dynamic Market Portfolio
PWD     PowerShares FTSE RAFI Europe Small-Mid Portfolio
PWJ     PowerShares Dynamic Mid Cap Growth Portfolio
PWO     PowerShares Dynamic OTC Portfolio
PWP     PowerShares Dynamic Mid Cap Value Portfolio
PWT     PowerShares Dynamic Small Cap Growth Portfolio
PWV     PowerShares Dynamic Large Cap Value Portfolio
PWY     PowerShares Dynamic Small Cap Value Portfolio
PWZ     PowerShares Insured California Municipal Bond Portfolio
PXE     PowerShares Dynamic Energy Exploration & Production Portfolio
PXH     PowerShares FTSE RAFI Emerging Markets Portfolio
PXI     PowerShares Dynamic Energy Sector Portfolio
PXJ     PowerShares Dynamic Oil & Gas Services Portfolio
PXN     PowerShares Lux Nanotech Portfolio
PXQ     PowerShares Dynamic Networking Portfolio
PYH     PowerShares Value Line Industry Rotation Portfolio
PYZ     PowerShares Dynamic Basic Materials Sector Portfolio
PZA     PowerShares Insured National Municipal Bond Portfolio
PZD     PowerShares Cleantech(TM) Portfolio
PZI     PowerShares Zacks Micro Cap Portfolio
PZJ     PowerShares Zacks Small Cap Portfolio

Invesco PowerShares is leading the intelligent ETF revolution through its family of more than 100 domestic and international index-based and actively managed exchange-traded funds. With assets under management as of June 30, 2008, of $13.95 billion, PowerShares ETFs trade on all of the major U.S. stock exchanges that trade ETFs. For more information, please visit us at www.invescopowershares.com.

Invesco PowerShares is a part of Invesco Ltd., a leading independent global investment management company dedicated to helping people worldwide build their financial security. By delivering the combined power of its distinctive worldwide investment management capabilities, including AIM, Atlantic Trust, Invesco, Perpetual, PowerShares, Trimark, and WL Ross, Invesco provides a comprehensive array of enduring investment solutions for retail, institutional and high-net-worth clients around the world. Operating in 20 countries, the company is currently listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

There are risks involved with investing in ETFs including possible loss of money. Shares are not actively managed and are subject to risk similar to stocks and covered call options, a well as those risks related to short selling and margin maintenance. Ordinary brokerage commissions apply.

Shares are not FDIC insured, may lose value and have no bank guarantee.

Shares are not individually redeemable and owners of the shares may acquire those shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations only, typically consisting of 100,000 shares.

PowerShares� is a registered trademark of Invesco PowerShares Capital Management LLC. Invesco PowerShares Capital Management LLC and Invesco Aim Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.

Invesco Aim Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust and the PowerShares Exchange-Traded Fund Trust II.

An investor should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. For a copy of the prospectus, which contains this and other information about the Funds, call 800.983.0903 or visit our website www.invescopowershares.com. Please read the prospectus carefully before investing.

Media Contacts: Kristin Sadlon Porter Novelli 212-601-8192 Email Contact Bill Conboy BC Capital Partners 303-415-2290 Email Contact