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RYDEX INVESTMENTS would like to extend our sincere wishes that you and your
loved ones enjoy a very Happy Holiday Season. Knowing how busy this time of year
can be, we really appreciate how precious your time is. Therefore it is no small
matter when we ask for your help by voting your shares. Your vote is extremely
important to the fund. Our records indicate that we have not yet received your
vote. By voting now you will help save the additional expense associated with
contacting you again by phone or by mail. Please take a few moments now to cast
your vote using one of the methods described below.
1-877-256-6082
Please vote now to be RYDEX INVESTMENTS has made it very
sure your vote is easy for you to vote. CHOOSE ONE OF
received in time for the THE FOLLOWING METHODS:
DECEMBER 20, 2007
----------------- o SPEAK to a live Proxy Specialist by
SPECIAL MEETING OF calling the number above. We can
------------------ answer any of your questions and
SHAREHOLDERS. record your vote. (Open: M-F 9:30am -
------------ 9pm, Sat 10am -Sat 10am - 6pm ET)
THANK YOU
--------- o LOG ON to the website noted on your
AND proxy card and enter your control
-- number printed on the card, and vote
HAPPY HOLIDAYS! by following the on-screen prompts.
---------------
o CALL the phone number on the proxy
card and enter the control number
printed on the card and follow the
touchtone prompts.
o MAIL in your signed proxy card in the
envelope provided.
VOTING TAKES ONLY A FEW MINUTES.
--------------------------------
PLEASE VOTE TODAY.
------------------
WHY ARE WE CONTACTING YOU SO MUCH???
------------------------------------
The Investment Company Act requires the holders of 50 percent of the outstanding
voting securities of each Fund to be present or represented by proxy in order to
transact business at a shareholder meeting ("quorum"). Therefore, A QUORUM FOR
EACH RYDEX FUND MUST BE PRESENT BEFORE RYDEX CAN TABULATE THE VOTES TO DETERMINE
THE OUTCOME. If a quorum is not present for a Rydex Fund, the shareholder
meeting will be adjourned with respect to that Rydex Fund and the PROXY
SOLICITATION EFFORTS WILL CONTINUE UNTIL SUCH TIME AS THAT VOTES SUBMITTED FOR
THAT RYDEX FUND CONSTITUTE A QUORUM AND THE PROPOSAL HAS BEEN DECIDED UPON.
In an effort to obtain sufficient votes to reach a quorum and decide upon the
proposal for each Rydex Fund, Rydex has conducted and continues to conduct a
proxy solicitation process that includes mailings, phone calls and messages to
shareholders of record as of August 6, 2007.
We thank you for your participation in this effort.