Exchange Traded Concepts Partners with Horizons Exchange Traded Funds on Covered Call ETF Series

OKLAHOMA CITY, Apr 23, 2012 (BUSINESS WIRE) — Exchange Traded Concepts, LLC (ETC), in conjunction with Horizons Exchange Traded Funds Inc. (Horizons ETFs), has filed a registration statement with the Securities and Exchange Commission to issue three covered call exchange traded funds (ETFs) in the United States.

This new series of Horizons’ ETFs represents the latest endeavor by ETC to help a third-party investment manager bring ETFs to market quickly and cost-effectively. The Horizons ETFs group has been an active sponsor of ETFs in Canada, with more than 80 ETFs listed on the Toronto Stock Exchange and CAD$3.3 billion in assets under management. ETC, a U.S. private-label ETF advisor, will serve as manager and investment adviser to the ETFs. Mirae Asset Global Investments (USA) LLC, the sub-adviser to the ETFs, and Horizons ETFs are both subsidiaries of Mirae Asset Global Investments Co., Ltd.

“We are excited to work with Horizons ETFs, given their successful track record in Canada and deep understanding of the ETF industry,” says J. Garrett Stevens, CEO of ETC. “This relationship will reinforce the value of leveraging our operational expertise to introduce new concepts to the ETF marketplace with a minimal initial time and capital investment. We expect more investment managers outside the United States to leverage our platform similarly to bring ETF product to our domestic markets.”

The Horizons covered call ETFs are based on indices developed with Standard and Poor’s that seek to increase yield and mitigate downside risk by using covered calls on the individual constituent securities in the indices. The series includes:

— Horizons S&P 500 Covered Call ETF

— Horizons S&P Financial Select Sector Covered Call ETF

— Horizons S&P Energy Select Sector Covered Call ETF

“We see the United States as a natural market for the extension of our firm’s current ETF line-up and believe that these innovative income generating strategies will be well-received by U.S. investors,” asserted Howard Atkinson, CEO of Horizons ETFs. “Partnering with ETC allowed us to accelerate the process of bringing our ETF strategies and brand to the U.S. market.”

An investor should consider the ETF’s investment objectives, risks, charges and expenses carefully before investing. This and other important information about the investment company can be found in the ETF’s prospectus. To obtain a prospectus, please visit the EDGAR Database on the SEC’s Internet site at http://www.sec.gov . Please read the prospectus carefully before investing.

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