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PowerSharesð DB US Dollar Index Bullish & Bearish Funds
 
Description
The PowerShares DB US Dollar Bullish Fund (Symbol: UUP) and the PowerShares DB US Dollar Bearish Fund (Symbol: UDN) are based on the Deutsche Bank Long US Dollar Index (USDX®) Futures Index™ (DB Long USD Futures Index) and the Deutsche Bank Short US Dollar Index (USDX®) Futures Index™ (DB Short USD Futures Index), respectively. The Indexes, which are managed by DB Commodity Services LLC, are rules-based indexes composed solely of long (in the case of the Dollar Bullish Fund) or short (in the case of the Dollar Bearish Fund) USDX® futures contracts. The USDX® futures contract is designed to replicate the performance of being long or short the US Dollar against the following currencies: Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.

You cannot invest directly in an index. Ordinary brokerage commissions apply.

Prospectus
UDN / UUP Fund Card




Shares may be sold throughout the day on the exchange through a brokerage account. Shares may only be redeemed directly from the Fund by Authorized Participants in large blocks consisting of 200,000 Shares.


IMPORTANT CONSIDERATIONS

Currencies and futures generally are volatile and may not be suitable for all investors. Investment in foreign exchange related products is subject to many factors which contribute to or increase volatility, such as national debt levels and trade deficits, changes in domestic and foreign interest rates, and investors’ expectations concerning interest rates, currency exchange rates and global or regional political, economic or financial events and situations. The Funds will be successful only if significant losses are avoided. Please review the prospectus regarding specific break-even figures for the Funds.

The Funds are speculative and involve a high degree of risk. An investor may lose all or substantially all of an investment in the Funds.

Please see the prospectus for a full description of how the Funds invest and the master-feeder structure of the Funds.

The Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Shares in the Funds are not FDIC insured, may lose value and have no bank guarantee.

This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing.



Index Base Date: December 31, 1986

Performance data quoted represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment returns and principal value will fluctuate and shares of the Fund, when redeemed, may be worth more or less than their original cost.

*Index returns are hypothetical and do not represent Fund returns. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have underor over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown above. For a complete list of risks associated with investment, please see the prospectus.

ðPowerShares Capital Management LLC is not a sponsor or promoter of the Funds and is not responsible for the performance of the Funds or the decisions or actions of the managing owner of the Funds, DB Commodity Services LLC.

¢As of December 31, 2006, these Funds had not yet listed on the American Stock Exchange. Please see http://dbfunds.db.com for current DB Long USD Futures Index and DB Short USD Futures Index Levels, Indicative intra-day NAV, and last end-of-day NAV.

†The Funds seek to track the Deutsche Bank Long USD Futures Index - Excess Return™ (Symbol: USDUPX) and the Deutsche Bank Short USD Futures Index - Excess Return™ (Symbol: USDDNX), respectively. Results for the Deutsche Bank Long USD Futures Index—Total Return™ and the Deutsche Bank Short USD Futures Index— Total Return™, both of which consist of the Index plus 3-month United States Treasury securities returns, are displayed because the Funds collateralize futures positions with 3-month United States Treasury securities.

+The S&P 500 Index is an unmanaged index used as a measurement of change in stock market conditions based on the average performance of a specified group of common stocks. U.S. Treasury bills are debt obligations issued by the U.S. government and backed by its full faith and credit, having a maturity of one year or less.

UUP Financial Details
Ticker: UUP
Last Update24-Jul-2008
04:15 PM
Price22.57
DB Long USD Index Level*55.03
Indicative Intra-day
NAV**
22.61
Last end of day
NAV***
22.60504
Last date for end
of day NAV
24-Jul-2008
Data Source:   www.amex.com
(Data delayed 20 minutes)
   *Indicative intra-day and Index closing
   **Indicative intra-day value of the Fund
   ***Last end of day UUPNAV
UDN Financial Details
Ticker: UDN
Last Update24-Jul-2008
04:15 PM
Price29.37
DB Short USD Index Level*150.83
Indicative Intra-day
NAV**
29.33
Last end of day
NAV***
29.33694
Last date for end
of day NAV
24-Jul-2008
Data Source:   www.amex.com
(Data delayed 20 minutes)
   *Indicative intra-day and Index closing
   **Indicative intra-day value of the Fund
   ***Last end of day UDNNAV
About the Fund's Index
The DB Long USD Futures Index† is made up only of long USDX® futures contracts and the DB Short USD Futures Index† is made up only of short USDX® futures contracts.

Current Index Data
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UDN / UUP Fund Card
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Contact Information
Any questions please call
1-877-369-4617