SHAREHOLDERS OF RAYMOND JAMES SB-1 EQUITY FUND APPROVE
                    REORGANIZATION INTO EXCHANGE-TRADED FUND

Lisle, Illinois - August 29, 2008 - Today, Claymore Advisors, LLC announces that
the shareholders of Claymore/Raymond James SB-1 Equity Fund, a diversified
closed-end management investment company (NYSE: RYJ) (the "Fund"), have approved
a reorganization into an exchange-traded fund, Claymore/Raymond James SB-1
Equity ETF (the "RYJ ETF"), a separate series of Claymore Exchange-Traded Fund
Trust.

The Reorganization is currently expected to close on or about September 3, 2008,
subject to satisfaction of certain closing conditions. Assuming such conditions
are satisfied, it is currently expected that the Fund will cease trading on the
NYSE after the close of trading on September 3, 2008 and the RYJ ETF will begin
trading on NYSE Arca on September 4, 2008. RYJ ETF will continue to trade under
the ticker symbol "RYJ", the same ticker symbol currently used by the Fund,
while the CUSIP of RYJ ETF will change to 18383M613 from 183833102. Pursuant to
the Reorganization, RYJ ETF will acquire substantially all of the assets and
will assume substantially all of the liabilities of the Fund, in exchange for
newly issued shares of RYJ ETF to be issued to the Fund. The shares of RYJ ETF
issued to the Fund will be distributed pro rata to the shareholders of the Fund.
Shareholders of the Fund will receive shares of RYJ ETF with an aggregate net
asset value equal to the aggregate net asset value of their common shares of the
Fund, less the costs of the Reorganization, as of the close of trading on the
NYSE on September 3, 2008.

The investment objective and principal investment strategies of the Fund and RYJ
ETF are similar, but have some important distinctions. The Fund's investment
objective is to provide capital appreciation. In comparison, RYJ ETF seeks
investment results that correspond generally to the performance, before RYJ
ETF's fees and expenses, of an equity index called the Raymond James SB-1 Equity
Index (the "Index"). The Fund utilizes an investment strategy that is similar to
the methodology of the Index to invest its portfolio but is not required to
replicate an index, as is the case with RYJ ETF. Under normal market conditions,
each of the Fund and RYJ ETF will invest substantially all of its net assets in
equity securities that are rated, at the time of purchase, Strong Buy 1 by
Raymond James analysts. The Fund's rules-based investment process is
substantially similar to the Index's stock selection methodology. For
information about the Fund, please see www.claymore.com/RYJ.

The Index is sponsored by Raymond James Research Services, LLC, an affiliate of
Raymond James & Associates, Inc., which currently serves as investment
sub-adviser to the Fund. Raymond James & Associates, Inc. has given notice of
its intention to resign as investment subadviser to the Fund concurrently with
the completion of the Reorganization. Raymond James & Associates, Inc. is a
member of the New York Stock Exchange, American Stock Exchange and most regional
exchanges in the United States. It is also a member of the Financial Industry
Regulatory Authority and the Securities Investor Protection Company. The firm is
a wholly owned subsidiary of Raymond James Financial, Inc., a Florida-based
holding company whose subsidiaries are engaged in various financial services
businesses including brokerage, trading, investment banking, asset management
and financial planning services. Raymond James and its affiliates currently
manage more than $35.4 billion for individuals, pension plans and
municipalities. The Raymond James equity research department supports the
Raymond James institutional and retail sales efforts and currently publishes
research on more than 600 companies. The Raymond James equity research analysts
have received broad industry recognition and specifically focus on the sectors
of Consumer, Energy, Financial Services, Healthcare, Industrial Services, Real
Estate and Technology/Communication.

Claymore Advisors, LLC (an affiliate of Claymore Securities, Inc.; each
separately or both together, "Claymore") serves as the Fund's Investment Adviser
and is anticipated to serve as investment



adviser for RYJ ETF as well. Based in Lisle, Illinois, Claymore Securities, Inc.
is a privately-held financial services company offering unique investment
solutions for financial advisors and their valued clients. Claymore entities
have provided supervision, management, servicing and/or distribution on
approximately $18.4 billion in assets, as of June 30, 2008. Claymore currently
offers exchange-traded funds, unit investment trusts and closed-end funds.

Risk is inherent in all investing. As investment companies following similar
trading strategies, many of the risks applicable to an investment in the Fund
are also applicable to an investment in RYJ ETF. Shares of the Fund and/or RYJ
ETF will change in value, and you could lose money by investing in the Fund
and/or RYJ ETF. The Fund and/or RYJ ETF may not achieve their investment
objectives. An investment in the Fund and/or RYJ ETF involves risks similar to
those of investing in any fund of equity securities traded on an exchange. The
following specific factors have been identified as the principal risks of
investing in RYJ ETF, all of which are similar to principal risks of investing
in the Fund, except non-diversified fund risk. As a non-diversified fund, RYJ
ETF can invest a greater portion of its assets in securities of individual
issuers than the Fund can, thus changes in the market value of a single
investment could cause greater fluctuations in the Share price of RYJ ETF than
would occur for the Fund.

INVESTORS SHOULD CONSIDER THE INVESTMENT OBJECTIVES AND POLICIES, RISK
CONSIDERATIONS, CHARGES AND EXPENSES OF THE FUND OR RYJ ETF CAREFULLY BEFORE
THEY INVEST. FOR THIS AND MORE INFORMATION, PLEASE CONTACT A SECURITIES
REPRESENTATIVE OR CLAYMORE SECURITIES, INC., 2455 CORPORATE WEST DRIVE, LISLE,
ILLINOIS 60532, 800-345-7999.

THE FOREGOING DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES FOR SALE. THE PROXY
STATEMENT/PROSPECTUS RELATING TO THE REORGANIZATION CONTAINS IMPORTANT
INFORMATION RELATING TO THE FOREGOING AND SHAREHOLDERS ARE URGED TO READ IT.
FREE COPIES OF THE PROXY STATEMENT/PROSPECTUS ARE AVAILABLE BY CALLING CLAYMORE
SECURITIES, INC. AT 800-345-7999 OR ON THE SEC'S WEB SITE AT WWW.SEC.GOV.

FOLLOWING THE CLOSING OF THE REORGANIZATION, RYJ ETF INTENDS TO COMMENCE A
CONTINUOUS OFFERING OF ITS SECURITIES. A REGISTRATION STATEMENT RELATING TO
THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, BUT
HAS NOT YET BECOME EFFECTIVE. INFORMATION CONTAINED HEREIN AND IN THE
PRELIMINARY PROSPECTUS FOR RYJ ETF IS SUBJECT TO COMPLETION OR AMENDMENT. OTHER
THAN IN THE REORGANIZATION, SECURITIES OF RYJ ETF MAY NOT BE SOLD NOR MAY OFFERS
TO BUY BE ACCEPTED PRIOR TO THE TIME THAT REGISTRATION STATEMENT BECOMES
EFFECTIVE. THIS COMMUNICATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF ANY OFFER TO BUY; NOR SHALL THERE BE ANY SALE OF THESE
SECURITIES IN ANY STATE WHERE THE OFFER, SOLICITATION, OR SALE IS NOT PERMITTED.

RYJ ETF is not sponsored, endorsed, sold or promoted by Raymond James Research
Services, LLC ("Licensor"). Licensor makes no representation or warranty,
express or implied, regarding the advisability of investing in securities
generally or in RYJ ETF particularly or the ability of the Index to track
general market performance. Licensor's only relationship to Claymore Advisors,
LLC (the "Licensee") is the licensing of the Index which is determined, composed
and calculated by Licensor without regard to the Licensee or RYJ ETF. Licensor
has no obligation to take the needs of the Licensee or the owners of RYJ ETF
into consideration in determining, composing or calculating the Index. Licensor
shall not be liable to any person for any error in the Index nor shall it be
under any obligation to advise any person of any error therein.


Member FINRA/SIPC (8/08)

             NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE