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BIR Leaders Asset Class Indices

ETF Description		Symbol	NAV
	The Claymore/BIR Leaders Small-Cap Core ETF	BES	Quote
	The Claymore/BIR Leaders Mid-Cap Value ETF	BMV	Quote
	The Claymore/BIR Leaders 50 ETF	BST	Quote

ETFs

Top Research Consortium Teams With Claymore to Launch Innovative
ETFs on the American Stock Exchange

Best Independent Research in partnership with Claymore has launched three Exchange Traded Funds. The objective of these new exchange-traded vehicles is to obtain investment results, before fees and expenses, which are similar to the following BIR Leaders indices:

BIR Leaders 50 Index (AMEX: BST) – The 50 large-cap, corestyle
equities most favored by BIR members from a universe of U.S.
exchange-traded common stocks.
BIR Leaders Mid-Cap Value Index (AMEX: BMV) - The
approximately 100 mid-cap value-style equities most favored by
BIR members from a universe of U.S. exchange-traded common
stocks.

BIR Leaders Small-Cap Core Index (AMEX: BES) – The
roughly 150 small-cap core-style equities most favored by BIR
members from a universe of U.S. exchange-traded common stocks.

Mr. White describes the new BIR Leaders asset class indices as being designed for use in second generation ETFs. First generation ETFs were based on broad market indices that contained all the securities in the asset class index (example: all 800 component stocks in the Russell Midcap Value Index). In contrast, second generation ETFs track indices that only contain a portion of the stocks in the benchmark asset class index, those the index designer believes should outperform the remaining stocks.

Just as in actively managed portfolios, whether second generation indices add value over their benchmarks, depends on the skills of the professionals supplying the index. The BIR research consortium was founded in 2002 to enable its members provide their independent research to investment banks in the Global Research Settlement. Previously, members’ research was only available to institutional investors. After an extensive interviewing process involving over 65 firms, five members were admitted into the league.

Final provider selection was based on the candidate’s recommendation accuracy, independence and their industry experience. The strong member performance has been reconfirmed each year since 2002.Member’s industry performance standings appear in rank tables maintained by the major third-party performance monitors.

Investment Advisors are currently limited to using top-down strategies in managing ETF portfolios. Now BIR’s new ETFs enable them to improve their portfolios returns by harnessing the bottom-up stock selection expertise of five of the country’s top performing research firms.

Investars, http://www.investars.com, is an independent research monitor that measures the research accuracy of investment banks, brokers and independent research providers. As of April 18, 2007, Investars’ site showed that for firms covering over 500 companies, the BIR members took 25% of the top ten spots for the 1-year, 2-year and 3-year periods ending April 1, 2007.