Claymore announces unitholder meeting to consider proposed merger of Adjustable Rate MBS Trust

    TORONTO, May 11 /CNW/ - Claymore Investments, Inc. ("Claymore"), the
manager of the Adjustable Rate MBS Trust (TSX: ADJ) ("ADJ") and Claymore
Global Monthly Advantaged Dividend ETF (TSX: CYH, CYH.A) ("CYH", and together
with ADJ, the "Funds") announced today that is holding a special unitholder
meeting of ADJ on June 5, 2009 to consider a proposal to merge ADJ with CYH
(the "Merger Proposal").
    The merger is being proposed to provide unitholders of ADJ the
opportunity to invest in a fund that will have a larger market capitalization,
increased liquidity and a lower management expense ratio. CYH is an ETF which
provides its unitholders with exposure to the performance of the Zacks Global
Multi-Asset Income Index, a proprietary index designed to identify companies
with potentially high income and superior risk-return profiles while
maintaining industry diversification. As with ADJ, distributions made by CYH
are expected to consist primarily of capital gains and returns of capital and
are intended to be tax efficient when compared to units of a trust that
depends solely on interest, dividend and/or other investment income to pay
    If the Merger Proposal is approved, all of ADJ's net assets will be
transferred to CYH in consideration for Advisor Class Units of CYH based on an
exchange ratio to be determined by reference to the relative net asset values
of the units of ADJ and CYH. As part of the Merger Proposal, the scheduled
annual redemption period of ADJ will be extended from June 1 to June 30, 2009
in order to allow ADJ unitholders who do not wish to participate in the merger
an opportunity to exit.
    If the Merger Proposal is not approved, the Board of Directors of
Claymore has approved a proposal providing for the wind-up and termination of
the ADJ on or about June 30, 2009 (the "Termination Proposal")
    Details of the Merger Proposal and Termination Proposal will be set out
in a management information circular to be prepared and delivered to
unitholders of ADJ. In order to become effective, the Merger Proposal must be
approved by a two-thirds majority of unitholders of ADJ present in person or
represented by proxy at the special meeting. The Merger Proposal is also
subject to the receipt of all necessary regulatory approvals.

    About Claymore Investments, Inc.

    The Funds are managed by Claymore Investments, Inc., a wholly-owned
subsidiary of Claymore Group, Inc., a financial services and asset management
company based in the Chicago, Illinois area. Claymore Group entities provide
supervision, management, servicing or distribution on approximately U.S.$10
billion in assets through various investment products including
exchange-traded funds, closed-end funds and open-end funds.
    For further information about the Funds or Claymore Investments, Inc.,
please contact your financial advisor or visit our website at
    Commissions, trailing commissions, management fees and expenses all may
be associated with investment funds. Please read the Funds' publicly filed
documents which are available from SEDAR at Investment funds
are not guaranteed, their values change frequently and past performance may
not be repeated.

For further information:

For further information: Media Inquiries, please contact: Som Seif,
President and Chief Executive Officer, Claymore Investments, Inc., Toronto,
(866) 417-4640,

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