Announces Reduced Fee Structure on Emerging Market ETF (GSR), Limits Net Expense Ratio to 0.25% for One-Year Period Effective June 1, 2010*

GSR Now Industry's Lowest Cost Broad Emerging Market ETF


Old Mutual Global Index Trackers announced today that it will be ringing the opening bell at the NYSE on Tuesday, May 18th to celebrate its launch completion of five ETFs focused on emerging and developed markets. The company also announced it has voluntarily agreed to limit the total annual operating expenses of Global Shares FTSE Emerging Market Fund (NYSE:GSR) to 0.25% of average daily net assets for one-year.* GSR now is the lowest cost broad emerging market ETF in the industry.

* - As stated in the current prospectus, as amended, Old Mutual Global Index Trackers has voluntarily agreed to waive its management fees and reimburse other expenses (not including brokerage or other transaction-related expenses, taxes, interest, litigation expenses and other extraordinary expenses) such that total operating expenses do not exceed 0.25% for the period June 1, 2010 through May 31, 2011. (Expenses are also subject to a contractual expense cap of 0.37 % until January 31, 2012.) The Fund's current gross expense ratio is 0.51%.

Old Mutual Global Index Trackers, a division of the $450 billion asset manager Old Mutual, is a South African-based index adviser with $5 billion under management. Old Mutual celebrated its 165th year of operations yesterday. To date, the firm has launched the following ETF products:

  • GlobalShares FTSE All Cap Asia Pacific ex Japan Fund (NYSE:GSZ), the only ETF listed in the U.S. that provides exposure to all caps (specifically small cap stocks) in the Asia Pacific region.
  • GlobalShares FTSE Emerging Markets Fund (NYSE:GSR).
  • GlobalShares FTSE Developed Countries ex US Fund (NYSE:GSD).
  • GlobalShares FTSE All-World ex US Fund (NYSE:GSO).
  • GlobalShares FTSE All-World Fund (NYSE:GSW).

"We're very pleased to be ringing the opening bell at the NYSE to recognize the completion of our ETF family, which includes the only emerging market ETF managed by an emerging market adviser," said Tendai Musikavanhu, CEO of Old Mutual Global Index Trackers. "Our products seek to provide investors with well-diversified portfolios, which we believe are particularly relevant now, as we continue to see volatility in isolated markets such as Greece. This is the reason why we have reduced the net expense ratio of GSR to 0.25%. We believe this will help demonstrate to Emerging Market investors that we can be the cost leader in this end of the market."

By completing its launch, Old Mutual Global Index Trackers continues in its mission to offer broadly diversified, low-cost FTSE products, which are designed for both retail and institutional investment portfolios. The products were created with the belief that the playing field should be leveled between large institutions and everyday, retail investors. The ETFs were also launched in order to enable investors to have broader index participation, and to offer global diversification and simplicity.  GlobalShares products seek to provide a low tracking error, which allows investors to be exposed to the performance of the underlying FTSE index. (Tracking error is the annualized standard deviation of the difference between two sets of returns over a specified period of time.)

The firm is in the early stages of building out a strong distribution channel and its ETFs  have been added to the select list of major brokerage houses. To date, eleven authorized participants have signed up to distribute GSR.

"Many investors today realize that core diversified equity products are more important than ever in terms of building a long-term portfolio," said Mr. Musikavanhu. "We use the best research and on-the-ground analysis available, coupled with the selective screening process of the FTSE indices. We're very pleased to celebrate the offering of our products with the NYSE bell ringing."  

About Old Mutual Global Index Trackers

Old Mutual Global Index Trackers (OMGxT) is an SEC registered adviser with its fund management based in Johannesburg, South Africa. OMGxT specializes in Global Passive Fund Management ex US, and is the first emerging market firm to list a broad based emerging market ETF on the New York Stock Exchange. The firm manages broadly diversified FTSE index tracking funds called GlobalShares. North American operations are based out of the Boston, Massachusetts office. More information on GlobalShares can be found at www.globalsharesetf.com.

OMGxT is one of several investment boutiques within the Old Mutual Investment Group, a wholly owned subsidiary of Old Mutual plc, an investment group with more than $450 billion in assets under management worldwide. Founded in 1845, and now based in London, the group operates in 38 countries and employs 57,000 people.

For More Information Contact:

OMGxT US at 1-888-OMGxTUS (+1 (888) 664-9887) +1 (888) 664-9887

Before investing you should carefully consider the Funds' investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling +1 888 OMGXTUS (+1 (888) 664-9887) or by visiting our website www.globalsharesetf.com. Please read the prospectus carefully before you invest.

Foreside Fund Services, LLC is the distributor for the Funds for the United States only. An investment in Funds is subject to investment risk, including the possible loss of principal amount invested. Fund returns may not match the return of their respective index, known as non-correlation risk, due to operating use of sampling techniques, derivatives and expenses incurred by the Funds. Foreign or emerging market securities involve certain risks and increased volatility not associated with investing solely in the US. These risks include currency fluctuations, economic or financial instability, and lack of timely or reliable financial information. The Funds may also invest in small and medium sized companies which involve greater risk than is customarily associated with investing in more established companies.

Risk is inherent in all investing. An investment in the Funds involves risks similar to those of investing in any fund of equity securities traded on an exchange. Even if the Funds achieve their objectives, the value of the Shares may decline, more or less, in correlation with any decline in value of the Underlying Index. Overall stock values could decline generally or could underperform other investments. The Funds may not be fully invested at times, for reasons such as a result of cash flows into the Funds or reserves of cash held by the Funds to meet redemptions and expenses. The Funds' Shares will change in value, and you could lose money by investing in the Funds. The Funds may not achieve their objectives.

CONTACT: Dukas Public Relations
         Alexandra Levis
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         Ben Jaffe
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