Claymore Investments announces the auto-conversion of Claymore Equal Weight Banc & Lifeco Trust (CEW) to an ETF

    TORONTO, Feb. 8 /CNW/ - Claymore Investments, Inc. would like to announce
that Claymore Equal Weight Banc & Lifeco Trust (the "Fund") has met the
requirements of its ETF conversion feature and will now be traded as an
exchange-traded fund ("ETF") effective February 6th, 2008. The Advisor Class
Units will now trade on the Toronto Stock Exchange ("TSX") under the ticker
symbol CEW.A. In addition, Common Units of the Fund have been listed for
trading on the TSX under the ticker CEW.
    The Fund was a closed-end fund, the Advisor Class Units of which were
offered to the public under a prospectus and issued at the closing of its
initial public offering. As set out in such prospectus the Fund would
automatically convert to an ETF if, commencing after November 15, 2007, the
daily weighted average trading price of the Advisor Class Units was greater
than a discount of 2% of NAV per Unit for a period of 10 consecutive trading
days. The conversion test has been met and the Fund has now converted to an
ETF. The Fund also changed its name from Claymore Equal Weight Banc & Lifeco
Trust to Claymore Equal Weight Banc & Lifeco ETF and has provided the required
regulatory notice. The Advisor Class Units will now trade on the Toronto Stock
Exchange ("TSX") under the ticker symbol CEW.A. In addition, Common Units of
the Fund have been listed for trading on the TSX under the ticker CEW.
    By converting to an ETF, the Fund is expected to provide unitholders with
several important benefits including more efficient trading as the market
price of the Fund's Units on the TSX should be closer to its intrinsic net
asset value, as well as greater market liquidity and greater portfolio
transparency. The conversion to an ETF will not change the investment
objectives, investment strategy, or investment restrictions of the Fund.
    The Fund has been created to provide investors with a diversified equal
weighted investment in a portfolio (the "CEW Portfolio") of Canadian banks and
life insurance companies. The Fund invests, on an equally weighted basis, in
common shares of the largest Canadian banks and Canadian life insurance
companies. Cash distributions on Advisor Class Units are expected to be made
monthly and are targeted at $0.04167 per Advisor Class Unit (or $0.50 per
annum). Cash distributions on Common Units are expected to be made quarterly
based on any dividends received by the Fund on the CEW Portfolio less
expenses. Such distributions may also include capital gains dividends and
returns of capital.
    The units of the Fund are listed on the Toronto Stock Exchange under the
symbols CEW and CEW.A.

    About Claymore Investments

    Claymore Investments, Inc. is responsible for the administration and
management of the ETFs. Claymore is a wholly owned subsidiary of Claymore
Group, Inc., a financial services and asset management company based in the
Chicago, Illinois area. As of December 31, 2007, Claymore entities have
provided supervision, management, servicing or distribution on approximately
$18.5 billion in assets through exchange-traded funds, closed-end funds, unit
investment trusts, mutual funds, and separately managed accounts. Claymore
Advisors, LLC, an affiliate of Claymore Securities, serves as investment
adviser to the funds.
    For more information investors should consult with their investment
advisor or visit our website at

    There is no assurance the Fund will achieve its investment objective.
Past performance does not guarantee future results. Index returns do not
represent Fund returns. The Index performance results are hypothetical.
Commissions, trailing commissions, management fees and expenses all may be
associated with mutual fund investments. Please read the prospectus before
investing. Mutual funds are not guaranteed. Their values change frequently and
past performance may not be repeated.

For further information:

For further information: For media inquiries, please contact: Janine
Waschuk, (416) 899-2617,; Or Som Seif, President, Claymore
Investments, Inc., (866) 417-4640,,

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