Claymore BRIC ETF et al. - s. 1.1 of OSC Rule 48-501

Headnote

Certain mutual funds designated as exchange-traded funds for the purposes of OSC Rule 48-501.

Rules Cited

OSC Rule 48-501 -- Trading During Distributions, Formal Bids and Share Exchange Transactions, s. 1.1.

IN THE MATTER OF

ONTARIO SECURITIES COMMISSION

RULE 48-501 -- TRADING DURING DISTRIBUTIONS,

FORMAL BIDS AND SHARE EXCHANGE

TRANSACTIONS (Rule)

AND

IN THE MATTER OF

CLAYMORE BRIC ETF, CLAYMORE CDN DIVIDEND

& INCOME ACHIEVERS ETF, CLAYMORE

INTERNATIONAL FUNDAMENTAL INDEX ETF,

CLAYMORE JAPAN FUNDAMENTAL INDEX ETF

C$ HEDGED, CLAYMORE OIL SANDS SECTOR ETF,

CLAYMORE US FUNDAMENTAL INDEX ETF C$

HEDGED, HORIZONS BETAPRO S&P/TSX 60 BEAR

PLUS ETF, HORIZONS BETAPRO S&P/TSX 60 BULL

PLUS ETF, ISHARES CDN DOW JONES CANADA

SELECT GROWTH INDEX FUND, ISHARES CDN DOW

JONES CANADA SELECT VALUE INDEX FUND,

iSHARES CDN SCOTIA CAPITAL ALL CORPORATE

BOND INDEX FUND, ISHARES CDN SCOTIA CAPITAL

ALL GOVERNMENT BOND INDEX FUND, AND ISHARES

CDN SCOTIA CAPITAL LONG TERM BOND INDEX FUND

(collectively, the Funds)

DESIGNATION ORDER

Section 1.1

WHEREAS each of the Funds is listed on the Toronto Stock Exchange;

AND WHEREAS Market Regulation Services Inc. has designated, or intends to designate, each of the Funds as an Exchange-traded Fund for the purposes of the Universal Market Integrity Rules (UMIR);

AND WHEREAS the definition of "exchange-traded fund" in the Rule is substantially similar to the definition of Exchange-traded Fund in UMIR;

THE DIRECTOR HEREBY DESIGNATES each of the Funds as an exchange-traded fund for the purposes of the Rule.

DATED February 27, 2007