Company Press Release

Direxion Launches NASDAQ-100 Equal Weighted ETF
Equally Weighted Fund Increases Diversification as Compared to Cap-weighted Strategy

BOSTON, March 21, 2012 -- Direxion, a leader in alternative investment solutions, has expanded their lineup of ETFs with the launch of the Direxion NASDAQ-100® Equal Weighted Index Shares (ticker:QQQE). The Fund provides investors with broader diversification and exposure to the holdings that comprise the NASDAQ-100 index.

The traditional cap-weighted NASDAQ-100 index currently has a significant overweighting to a select number of companies, and a heavy bias toward the technology sector, based on the market capitalization of these few companies. Larger companies in the index receive a higher weight than small companies, which can lead to a portfolio with an over concentration in a limited number of companies and industries. The Direxion NASDAQ-100 Equal Weighted Index Shares Fund utilizes a methodology that weights the holdings of the index equally, regardless of market capitalization or industry. This provides investors with a cost-effective approach to an equal-weighted investment strategy, with performance less reliant on the largest companies.

"This fund is designed to provide investors with balanced exposure and reduce concentration risk without overweighting potentially overvalued companies and underweighting undervalued companies," said Daniel D. O'Neill, President and Chief Investment Officer of Direxion. "Investors are increasingly embracing an equal weighting approach to complement other U.S. large cap equity strategies that tend to be more highly concentrated in a select number of industries."

Along with comparatively increased diversification, equal weighting offers greater performance potential over cap-weighted strategies when smaller companies outperform their larger counterparts. The strategy also employs disciplined rebalancing, which results in unbiased exposure to market risk factors and potential opportunities for long-term equity performance.

For more information about Direxion, please contact James Doyle at 973-850-7308 or jdoyle@jcprinc.com.

About Direxion
Direxion Funds, managed by Rafferty Asset Management, LLC, offers alternative-class fund products and leveraged index funds for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $7.8 billion in assets under management as of 12/31/11. The company's business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners. For more information, please visit www.direxionshares.com .

An investor should consider the investment objectives, risks, charges, and expenses of Direxion Shares carefully before investing. The prospectus and summary prospectus contain this and other information about Direxion Shares. To obtain a prospectus and summary prospectus, visit our website at www.direxionshares.com . The prospectus and summary prospectus should be read carefully before investing.

Risks:

An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified which means it invests a high percentage of its assets in a limited number of securities. The Fund may at times use derivatives such as futures contracts, forward contracts, options and swaps which could subject them to market risks that may cause price fluctuation over time. Increased portfolio turnover may result in higher transaction costs and capital gains. For other risks including counterparty risk, tracking error risk and specific risks of exchanged traded funds, please read the prospectus.


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