Clear Indexes LLC Launches the First Index to Track Spun-Off Companies 

New York, NY (December 11, 2006) – Clear Indexes LLC announced the launch of the Clear Spin-Off Index, the first known benchmark to track companies that have been spun off -- and the first of a series of indexes under development.

The Clear Spin-Off Index is the creation of Clear Indexes LLC, www.clearindexes.com, a newly created affiliate of the asset management and equity research firm Clear Asset Management LLC, www.clearam.com. Clear Indexes LLC was established to develop custom indexes for investment product design and individually tailored benchmarks for institutions, family offices, trusts and endowments. 

“There is enormous demand for actively-managed indexes for a new breed of investment products,” said Andrew Corn, Founder and CEO of Clear and a former SVP of TheStreet.com. “We believe our proprietary algorithms, research and investment insights will develop superior indexes to help institutions, financial advisors and individuals capture alpha.”

“The Clear Spin-Off Index is the first in a series of indexes designed to offer access to asset classes that were unavailable to most investors,” said Corn.
Prior to designing the index, Clear examined academic and sell-side research which indicated that spin-off companies tend to out-perform the broader stock market indexes. By rigorously back testing for performance, market correlation and capacity, Clear is able to take a concept to a live, investable index. According to Corn, the firm conducts its research utilizing primary and secondary sources and then employs its proprietary algorithms to select the stocks.

Claymore Securities Inc., of Lisle, Ill., filed with the SEC on September 29, 2006 its intention to develop an exchange-traded fund (ETF) based on the Clear Spin-Off Index.

Clear Indexes LLC has granted Claymore Advisors the rights to license the Clear Spin-Off Index for the creation of the Claymore/Clear Spin-Off ETF. The Fund seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, to the Clear Spin-Off Index. Claymore Securities, Inc. acts as the distribution agent for the Fund. Neither Claymore Advisors nor Claymore Securities has any involvement with the ongoing administration of the Index.

The Clear Spin-Off Index tracks the performance of companies that are listed on major US exchanges and that have been spun-off or carved out.

The 40 stocks in the Clear Spin-Off Index are selected from the universe of recently spun-off companies based on Clear’s proprietary investment algorithms and independent qualitative research.

Effective as of its last rebalance the Clear Spin-Off Index is composed of the following (constituents and weightings effective June 16, 2006):

About Clear Indexes LLC
Clear Indexes LLC creates and publishes custom indexes using a combination of qualitative research and quantitative methodologies. Clear Indexes designs custom indexes to quantitatively measure specific market segments. The indexes are used for custom institutional benchmarks and investment product design. Clear Indexes is a wholly-owned subsidiary of Clear Asset Management LLC. For more information, please see www.clearindexes.com.

About Clear Asset Management LLC
Clear Asset Management LLC (Clear AM) offers seven stock style portfolios to individual and institutional investors and financial advisors in separately managed accounts. Rigorous stock selection using proprietary computer algorithms that screen, rank and weight stocks, along with transparency and a focus on delivering consistent long-term results, all set Clear AM apart. Clear AM's objective is to help investors effectively pursue their investment goals with a clear understanding of the investment and risk management process. Clear AM is a New York State Registered Investment Advisor. For more information, please see www.clearam.com.