United States Short Oil Fund is Now Available for Trading under Symbol DNO

The United States Short Oil Fund, LP (NYSE Arca: DNO) is an exchange traded security that is designed to inversely track in percentage terms the movements of crude oil prices. DNO issued units may be purchased and sold on the New York Arca Stock Exchange.

DNO’s Objective – The investment objective of DNO is to have the changes in percentage terms of its units’ net asset value (“NAV”) inversely reflect the changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the price of the futures contract on light, sweet crude oil as traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire (the “Benchmark Futures Contract”), less DNO’s expenses. It is not the intent of DNO to be operated in a fashion such that its NAV will equal, in dollar terms, the dollar price of spot crude oil or any particular futures contract based on crude oil. DNO may invest in interests other than the Benchmark Futures Contract to comply with accountability levels and position limits

DNO’s Target – Crude oil is one of the most important physical commodities in the global economy. Crude oil futures are one of the most actively traded futures contracts and represent the primary U.S. benchmark for crude oil prices.

DNO’s Portfolio – The portfolio consists of short positions in listed crude oil futures contracts and other crude oil related futures, forwards and swap contracts. These investments will be collateralized by cash, cash equivalents and U.S. government obligations with remaining maturities of two years or less.

For additional information, please read attached Prospectus, call 800-920-0259; or visit www.unitedstatesshortoilfund.com.

Commodities and futures generally are volatile and are not suitable for all investors. The Fund is speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. Funds that focus on a single sector generally experience greater volatility.

DNO is not a registered investment company so you do not have the protections of the Investment Company Act of 1940. Accordingly, you do not have the protections afforded by that statute which, for example, include: (1) controls over activities of an investment company’s investment adviser; (2) an express private right of action for shareholders; (3) restrictions on transactions between the fund and the adviser; (4) restrictions on investments; (5) regulation of adviser services and fees; and (6) capital structure requirements, including restrictions on debt.

Investing in crude oil interests subjects DNO to the risks of the crude oil industry and this could result in large fluctuations in the price of DNO’s units.

Investing in oil interests subjects DNO to the risks of the oil industry. These risks could result in large fluctuations in the price of DNO’s units. The Fund carries additional risk, including inverse correlation, market price variance and short sale risks. The price of DNO’s units may be influenced by factors such as the short-term supply and demand for crude oil and the short-term supply and demand for DNO’s units. This may cause the units to trade at a price that is above or below DNO’s NAV per unit. Accordingly, changes in the price of units may substantially vary from the inverse of changes in the price of crude oil. If this variation occurs, then you may not be able to effectively use DNO as a way to hedge against crude oil-related losses or as a way to indirectly invest in crude oil.

For further discussion of these and additional risks associated with an investment in DNO units, see the prospectus that has preceded or accompanied this announcement, downloaded at http://www.unitedstatesshortoilfund.com/PDFS/DNO-Prospectus.pdf.

Not FDIC insured, may lose value, no bank guarantee.

Shares are not individually redeemable and the owners of Shares may purchase or redeem Shares from a Fund in Creation Units only.


The United States Commodity Funds
Jim Stegall, 720-917-0620

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