Mirae Asset Agrees to Acquire Majority Stake in BetaPro, Leading Canadian Asset Management Company Specializing in Innovative ETFs

July 15, 2011

New York

Mirae Asset Financial Group ("Mirae Asset") today announced that it has agreed to acquire 85% of BetaPro Management Inc. ("BetaPro") for C$127.5 million (US$131.5 million). BetaPro together with its subsidiary, AlphaPro Management Inc. ("AlphaPro"), manage the Horizons family of Exchange Traded Funds, the largest ETF family in Canada with more than 70 ETFs listed on the Toronto Stock Exchange and C$3.0 billion (US$3.1 billion) in assets under management. BetaPro is a pioneer in the ETF market, having launched a number of the first leveraged and inverse commodity ETFs in the world.

Under the agreement, Mirae Asset and the minority shareholders in BetaPro (current management) will also own stakes of 80% in AlphaPro Management Inc. ("AlphaPro") and 40% in BetaShares Holdings Pty. Ltd. ("BetaShares"). AlphaPro is an innovative financial services company specializing in actively managed ETFs, and currently offers the largest suite of actively managed ETFs in the world. BetaShares is a rising ETF company based in Australia.

Upon completion, Mirae Asset gains a foothold in the Canadian and Australian market. Using potential synergies between Mirae Asset´s global network and BetaPro's expertise, Mirae Asset will immediately expand its ETF business in the global markets.

Mirae Asset's TIGER ETF series, which are listed on the KRX (the Korea Exchange) and HKEX (the Stock Exchange of Hong Kong Limited) have assets of approximately US$1.1 billion as of June 30th 2011. Mirae Asset's global ETF assets under management will be approximately US$4.2 billion when BetaPro and its affiliates are acquired.

Assets in ETFs globally are expected to increase 20-30% annually over the next few years. Industry experts expect global ETF AUM to reach approximately US$2 trillion by early 2012 from just US$74 billion in the year 20001. In particular, the Australian ETF market, which BetaPro has considerable exposure to through its Australia-based ETF firm BetaShares, is believed to be on an aggressive growth path. Although the Australian ETF market is still in its infancy, its rich natural resources and economic growth potential can create a positive atmosphere for the development of its ETF market through robust economic growth.

According to Adam Felesky, CEO of BetaPro: "When combining Mirae Asset's accumulated expertise in emerging market investing with BetaPro's differentiated ETF products, focusing considerably on developed Canadian and Australian markets, a far greater level of synergy can be achieved."

Hyeon-Joo Park, Chairman and Founder of Mirae Asset, says "Mirae Asset respects the current management skills of BetaPro and sees them as an integral part of the future of Mirae Asset". He also added, "Mirae Asset is traditionally very strong in actively managed products and through this transaction we expect to offer our clients a more diversified product line-up with a varied and high quality suite of ETF products." Mirae Asset is planning to increase its overseas investment in the next several years, based on a combination of robust growth in the domestic and overseas markets.

About Mirae Asset Financial Group
Mirae Asset is the leading independent financial services group in Asia with a unique culture of entrepreneurship, enthusiasm and innovation. While the group's core business is asset management, it also provides comprehensive financial services in the areas of wealth management and life insurance. Headquartered in Seoul, South Korea, the Group has a presence in Hong Kong, China, India, Vietnam, Taiwan, Brazil, the U.K. and the U.S. Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities2. The firm manages over US$53 billion in assets globally (as of 30 June 2011).

1BlackRock, ETF Landscape, Industry Highlights, End H1 2011
2Investment & Pensions Europe, January 2011


Forward-Looking Statements
This press release may include statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements generally include words such as "believes", "expects", "intends", "anticipates", "estimates", and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. For a detailed description of other risks and uncertainties affecting Mirae Asset Financial Group, please refer to Mirae Asset's website, available at www.miraeasset.com.

Any forward-looking statements made in this press release are made by Mirae Asset and BetaPro, or any of their affiliates, as of the date of this press release. Further, Mirae Asset does not have any obligation to update or revise any forward-looking statement contained in this press release, even if Mirae Asset's expectations or any related events, conditions or circumstances change.

For more information:
Janet Yoo
Makovsky + Co.
+1 (212) 508-9606