Company Press Release

AdvisorShares Announces Change in Sub-Adviser to the Mars Hill Global Relative Value ETF

AdvisorShares Investments, LLC ("AdvisorShares") an investment adviser to actively managed exchange-traded funds ("ETFs"), today announced a change in the sub-adviser for the Mars Hill Global Relative Value ETF GRV +0.56% (the "Fund"), a series of AdvisorShares Trust. Accuvest Global Advisors ("Accuvest"), a Walnut Creek, CA-based investment adviser that manages over $300 million in global portfolio assets, was approved by the AdvisorShares Trust Board of Trustees as the new sub-adviser to the Fund effective December 1, 2011. Also effective December 1, 2011, the Fund will change its (i) name to the "Accuvest Global Long Short ETF" and (ii) ticker symbol to AGLS.

"We continuously analyze our ETF product line-up to provide clients investment options that will help them achieve the financial goals they seek," said Noah Hamman, CEO of AdvisorShares. "This change will bring an expert in global asset management to a product that has fallen short in performance relative to its peers. After reviewing the performance with the current sub advisor, it was concluded that a change was in the best interest of shareholders."

In pursuing the Fund's investment strategy, Accuvest will use its proprietary country ranking model methodology, which ranks countries from most attractive to least attractive based on a broad range of fundamental factors. Accuvest will then purchase the highest ranked countries and hedge the long portion of the Fund's portfolio by short selling the lowest ranked countries. "Accuvest's proprietary model methodology seeks to identify countries that are targeted to outperform global indices and underperforming countries that can be shorted, which will provide a hedging solution that may provide lower correlation and lower volatility than traditional long-only strategies," Hamman added.

David Garff, President of Accuvest Global Advisors said, "We are excited to launch our first of two actively managed ETFs with AdvisorShares Trust. The Fund will provide an active long short ETF solution for advisors looking to complement their alternative investment exposure, as well as a way to get global all capitalization exposure with potential lower volatility. The Fund will allow us to deliver this strategy in a liquid, transparent vehicle that makes it accessible to a wide variety of investors. In addition to managing the Fund, we also will serve as the sub-adviser for the Accuvest Global Opportunities ETF , which has not yet commenced operations. Our upcoming launch of the Accuvest Global Opportunities ETF will provide a focused long-only global equity option for investors."