ETF Advisors Announces Closure of its Four Treasury FITR Funds.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 17, 2003

ETF Advisors announced today that it would close its four Treasury FITR funds: Treasury 1 FITR (TFT), Treasury 2 FITR (TOU), Treasury 5 FITR (TFI) and Treasury 10 FITR (TTE).

The ETF Advisors Trust Board of Trustees decided to close the funds in the best interest of the shareholders due to the small asset base of the funds and poor immediate prospects for growth of the funds.

The Treasury FITR funds are fixed-income exchange-traded funds based on consistent maturity Treasury indexes.

Trading in the funds on the American Stock Exchange will halt at the close of the U.S. stock market on May 21, 2003. From May 22-27, 2003, the funds will be liquidated, which will result in the funds not tracking their respective indexes and their cash holdings increasing. On May 27 the final NAV of the funds' shares, any capital gains and the dividend will be calculated. Shareholders remaining after May 21, 2003 will receive the Net Asset Value (NAV) of their shares as of May 27 (the record date) and any capital gains and dividends into the cash portion of their brokerage account on or about May 30, 2003.

Shareholders are being notified via mail. Broker-dealers and other firms that make markets for the Treasury FITR funds have been notified. Shareholders may sell their holdings prior to May 21, incurring a transaction fee from their broker-dealer. From May 22 through May 27, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for shares of the funds. Shareholders can visit www.etfadvisors.com or contact ETF Advisors at [e-mail] or [phone] for more information.