UPDATE: Direxion Reports Reverse, Forward Share Splits of 19 3x ETFs

Direxion Investments has announced itwill execute reverse share splits for eight of its leveraged exchange-tradedfunds ("ETFs"), as well as forward share splits for another 11 leveraged ETFs.The total market value of the shares outstanding will not be affected as aresult of these splits, except with respect to the redemption of fractionalshares, as outlined below.Direxion Investments Logo8 Reverse SplitsDirexion will execute a 1-for-10 reverse split of the shares of the DirexionDaily Brazil Bull 3X Shares, Direxion Daily FTSE China Bear 3X Shares, andDirexion Daily Natural Gas Related Bull 3X Shares, effective at the open ofthe market on May 20, 2015. The firm will also execute a 1-for-4 reverse splitof the Direxion Daily Mid Cap Bear 3X Shares, Direxion Daily Latin AmericaBull 3X Shares, Direxion Daily Russia Bear 3X Shares, Direxion DailySemiconductor Bear 3X Shares, and Direxion Daily Technology Bear 3X Shares,effective at the open of the market on May 20, 2015.A summary of the eight ETFs undergoing reverse splits is as follows (pleasenote the CUSIP changes, effective May 20, 2015): ApproximateETF Current CUSIP New CUSIP Ratio decrease in total number of outstanding sharesDirexion Daily Brazil Bull 3X 25459Y546 25490K844 1:10 90%Shares (BRZU)Direxion Daily FTSE ChinaBear 3X Shares 25459Y462 25490K836 1:10 90%(YANG)Direxion Daily Natural GasRelated Bull 3X Shares 25459W227 25490K828 1:10 90%(GASL)Direxion Daily Mid Cap Bear 25459Y421 25490K810 1:4 75%3X Shares (MIDZ)Direxion Daily Latin America 25459Y652 25490K794 1:4 75%Bull 3X Shares (LBJ)Direxion Daily Russia Bear 3X 25459W284 25490K786 1:4 75%Shares (RUSS)Direxion Daily SemiconductorBear 3X Shares 25459Y314 25490K778 1:4 75%(SOXS)Direxion Daily Technology 25459Y439 25490K760 1:4 75%Bear 3X Shares (TECS)As a result of this reverse split, every 10 or four shares of a Fund will beexchanged for one share as indicated in the table above. Accordingly, thetotal number of the issued and outstanding shares for the Funds will decreaseby the approximate percentage indicated above. In addition, the per-share netasset value ("NAV") and next day's opening market price will be approximately10- or four-times higher for the Funds. Shares of the Funds will begin tradingon NYSE Arca, Inc. ("NYSE Arca") on a split-adjusted basis on May 20, 2015(the "Effective Date").The next day's opening market value of the Funds' issued and outstandingshares, and thus a shareholder's investment value, will not be affected by thereverse split. The tables below illustrate the effect of a hypothetical1-for-10 and 1-for-4 reverse split anticipated for the Funds, as applicableand described above:Hypothetical example of 1-for-10 Reverse SplitPeriod # of Shares Owned Hypothetical NAV Total Market ValuePre-Split 120 $10 $1,200Post-Split 12 $100 $1,200Hypothetical example of 1-for-4 Reverse SplitPeriod # of Shares Owned Hypothetical NAV Total Market ValuePre-Split 120 $10 $1,200Post-Split 30 $40 $1,20011 Forward SplitsAdditionally, Direxion will execute forward splits of the shares of theDirexion Daily Mid Cap Bull 3X Shares, Direxion Daily India Bull 3X Shares,Direxion Daily Healthcare Bull 3X Shares, Direxion Daily Retail Bull 3XShares, Direxion Daily Semiconductor Bull 3X Shares, Direxion Daily FinancialBull 3X Shares, Direxion Daily Technology Bull 3X Shares, Direxion Daily S&P500^® Bull 2X Shares, Direxion Daily Mid Cap Bull 2X Shares, Direxion DailySmall Cap Bull 2X Shares, and Direxion Daily 7-10 Year Treasury Bull 2XShares.After the close of the markets on May 19, 2015 (the "Payable Date"), each Fundwill affect a split of each Fund's issued and outstanding shares as follows: ApproximateETF Forward Split Ratio increase in total number of outstanding sharesDirexion Daily Mid Cap Bull 3X Shares 4 for 1 400%(MIDU)Direxion Daily India Bull 3X Shares 4 for 1 400%(INDL)Direxion Daily Healthcare Bull 3X 4 for 1 400%Shares (CURE)Direxion Daily Retail Bull 3X Shares 4 for 1 400%(RETL)Direxion Daily Semiconductor Bull 3X 4 for 1 400%Shares (SOXL)Direxion Daily Financial Bull 3X Shares 4 for 1 400%(FAS)Direxion Daily Technology Bull 3X 4 for 1 400%Shares (TECL)Direxion Daily S&P 500^® Bull 2X Shares 4 for 1 400%(SPUU)Direxion Daily Mid Cap Bull 2X Shares 4 for 1 400%(MDLL)Direxion Daily Small Cap Bull 2X Shares 4 for 1 400%(SMLL)Direxion Daily 7-10 Year Treasury Bull2X Shares 2 for 1 200%(SYTL)As a result of these share splits, shareholders of each Fund will receive anadditional four or two shares for each share held of the applicable Fund asindicated in the table above. Accordingly, the number of each Fund's issuedand outstanding shares will increase by approximately 400% or 200% asindicated above. All forward share splits will apply to shareholders of record as of the closeof the NYSE Arca on May 18, 2015 (the "Record Date"), payable after the closeof the NYSE Arca on May 19, 2015 (the "Payable Date"). Shares of the Fundswill begin trading on the NYSE Arca on a split-adjusted basis on May 20, 2015(the "Ex-Date"). On the Ex-Date, the opening market value of each Fund'sissued and outstanding shares, and thus a shareholder's investment value, willnot be affected by the share split. However, the per-share NAV and openingmarket price on the Ex-Date will be approximately one-fourth and one-half forthe Funds. The tables below illustrate the effect of a hypotheticalfour-for-one and two-for-one share split on a shareholder's investment.Hypothetical Example of 4-for-1 Forward Share SplitPeriod # of Shares Owned Hypothetical NAV Total Market ValuePre-Split 100 $40 $4,000Post-Split 400 $10 $4,000Hypothetical Example of 2-for-1 Forward Share SplitPeriod # of Shares Owned Hypothetical NAV Total Market ValuePre-Split 100 $40 $4,000Post-Split 200 $20 $4,000The Trust's transfer agent will notify the Depository Trust Company ("DTC") ofthe reverse and forward splits and instruct the DTC to adjust eachshareholder's investment(s) accordingly. DTC is the registered owner of theFunds' shares and maintains a record of the Funds' record owners.Redemption of Fractional Shares and Tax Consequences for Each Reverse andForward SplitAs a result of the reverse or forward split, a shareholder of a Fund's sharescould potentially hold a fractional share. However, fractional shares cannottrade on the NYSE Arca. Thus, a Fund will redeem for cash a shareholder'sfractional shares at the Fund's split-adjusted NAV as of the Record Date. Suchredemption may have tax implications for those shareholders and a shareholdercould recognize a gain or loss in connection with the redemption of theshareholder's fractional shares. Otherwise, the reverse or forward split willnot result in a taxable transaction for holders of Fund shares. No transactionfee will be imposed on shareholders for such redemption.