-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OA6mY0Y5oRivCXRE6B1qYeiiAV6HRd/j9vK9qVYN4QuKaNSpTZoeIO9lsYxpD9mZ
 DBnS8lMdnclDlBjrhE9ZhQ==

<SEC-DOCUMENT>0000897069-08-001668.txt : 20081106
<SEC-HEADER>0000897069-08-001668.hdr.sgml : 20081106
<ACCEPTANCE-DATETIME>20081106153703
ACCESSION NUMBER:		0000897069-08-001668
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20081106
DATE AS OF CHANGE:		20081106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CURRENCYSHARES CANADIAN DOLLAR TRUST
		CENTRAL INDEX KEY:			0001353612
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-132363
		FILM NUMBER:		081167010

	BUSINESS ADDRESS:	
		STREET 1:		C/O RYDEX INVESTMENTS, ATTN: TIM MEYER
		STREET 2:		9601 BLACKWELL ROAD, SUITE 500
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301-296-5129

	MAIL ADDRESS:	
		STREET 1:		C/O RYDEX INVESTMENTS, ATTN: TIM MEYER
		STREET 2:		9601 BLACKWELL ROAD, SUITE 500
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>cmw3830.htm
<DESCRIPTION>SUPPLEMENT NO. 3
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Filed Pursuant to Rule
424(b)(3)<BR>Registration No. 333-132363  </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Prospectus Supplement No.
3 dated November 6, 2008 <BR>(to Prospectus dated February 8, 2008)  </FONT></P>



<p align=center><IMG SRC="canadianlogo.gif"></p>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11,500,000 SHARES <BR>CURRENCYSHARES<SUP>SM</SUP>
CANADIAN DOLLAR TRUST </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Prospectus Supplement No. 3 amends and supplements our prospectus dated February 8, 2008
(the &#147;Prospectus&#148;) and supersedes and replaces in its entirety Prospectus
Supplement No. 1 dated October 17, 2008 and Prospectus Supplement No. 2 dated October 21,
2008. This Prospectus Supplement No. 3 should be read in conjunction with, and must be
delivered with, the Prospectus. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to November 13, 2008, the NAV will be expressed in USD based on the Canadian Dollar/USD
exchange rate as determined by the Federal Reserve Bank of New York at 12:00 PM (New York
time) (the &#147;Noon Buying Rate&#148;). As of and after November 13, 2008, the NAV will
be expressed in USD based on the Canadian Dollar/USD exchange rate as determined by
WM/Reuters at 4:00 PM (London time) (the &#147;Closing Spot Rate&#148;). Consequently, all
references in the Prospectus to the &#147;Noon Buying Rate&#148; that relate to a period
of time on or after November 13, 2008 are amended to read &#147;Closing Spot Rate.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Prospectus, under the heading &#147;Net Asset Value&#148; on page 4 and the definition of
&#147;Net Asset Value&#148; on page 13, states: &#147;If, on a particular evaluation day,
the Federal Reserve Bank of New York does not announce a Noon Buying Rate by 2:00 PM (New
York time), then the most recent Federal Reserve Bank of New York determination of the
Noon Buying Rate will be deemed the &#147;Noon Buying Rate&#148; and be used to determine
the NAV of the Trust unless the Trustee, in consultation with the Sponsor, determines that
such price is inappropriate to use as the basis for such valuation. In the event that the
Trustee and the Sponsor determine that the most recent Federal Reserve Bank of New York
determination of the Noon Buying Rate is not an appropriate basis for valuation of the
Trust&#146;s Canadian Dollars, or the Federal Reserve Bank of New York ceases to provide
the Noon Buying Rate, the Trustee and the Sponsor shall determine an alternative basis for
such evaluation to be employed by the Trustee. Such an alternative basis may include
reference to other exchange-traded securities that reflect the value of the Canadian
Dollar relative to the USD. The use of any alternative basis to determine NAV would be
disclosed on the Trust&#146;s website.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
immediately foregoing is hereby deleted and replaced with the following: &#147;If, on a
particular evaluation day, the Closing Spot Rate is not determined and announced by 6:00
PM (London time), then the most recent Closing Spot Rate shall be used to determine the
NAV of the Trust unless the Trustee, in consultation with the Sponsor, determines that
such price is inappropriate to use as the basis for such valuation. In the event that the
Trustee and the Sponsor determine that the most recent Closing Spot Rate is not an
appropriate basis for valuation of the Trust&#146;s Canadian Dollars, the Trustee and the
Sponsor shall determine an alternative basis for such evaluation to be employed by the
Trustee. Such an alternative basis may include reference to the market price of futures
contracts that reflect the value of the Canadian Dollar relative to the USD. The use of
any alternative basis to determine NAV would be disclosed on the Trust&#146;s
website.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other portions of the Prospectus shall remain unchanged. Capitalized terms used but not
defined herein shall have the meanings ascribed to such terms in the Prospectus. </FONT></P>

<!-- MARKER FORMAT-SHEET="Three Quarters Rule" FSL="Default" -->
     <HR ALIGN=CENTER WIDTH=75% SIZE=1 color=black NOSHADE>

<p align=center><IMG SRC="rydexlogo.gif"></p>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The date of this
Prospectus Supplement is November 6, 2008  </FONT></P>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>canadianlogo.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 canadianlogo.gif
M1TE&.#EA\0%B`/<``````(````"``("`````@(``@`"`@("`@,#`P/\```#_
M`/__````__\`_P#______P``````````````````````````````````````
M````````````````````````````````````````````````````````````
M````,P``9@``F0``S```_P`S```S,P`S9@`SF0`SS``S_P!F``!F,P!F9@!F
MF0!FS`!F_P"9``"9,P"99@"9F0"9S`"9_P#,``#,,P#,9@#,F0#,S`#,_P#_
M``#_,P#_9@#_F0#_S`#__S,``#,`,S,`9C,`F3,`S#,`_S,S`#,S,S,S9C,S
MF3,SS#,S_S-F`#-F,S-F9C-FF3-FS#-F_S.9`#.9,S.99C.9F3.9S#.9_S/,
M`#/,,S/,9C/,F3/,S#/,_S/_`#/_,S/_9C/_F3/_S#/__V8``&8`,V8`9F8`
MF68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F,V9F9F9FF69FS&9F_V:9
M`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,S&;,_V;_`&;_,V;_9F;_
MF6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS,YDS9IDSF9DSS)DS_YEF
M`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9S)F9_YG,`)G,,YG,9IG,
MF9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`,\P`9LP`F<P`S,P`_\PS
M`,PS,\PS9LPSF<PSS,PS_\QF`,QF,\QF9LQFF<QFS,QF_\R9`,R9,\R99LR9
MF<R9S,R9_\S,`,S,,\S,9LS,F<S,S,S,_\S_`,S_,\S_9LS_F<S_S,S___\`
M`/\`,_\`9O\`F?\`S/\`__\S`/\S,_\S9O\SF?\SS/\S__]F`/]F,_]F9O]F
MF?]FS/]F__^9`/^9,_^99O^9F?^9S/^9___,`/_,,__,9O_,F?_,S/_,____
M`/__,___9O__F?__S/___R'Y!`$``!``+`````#Q`6(```C_`/\)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW,FSI\^?0(,*'4JTJ-&C2),J7<JTJ=.G4*-*G4JUJM6K
M6+-JW<JUJ]>O8,.*'4NVK-FS:-.J7<NVK=NW<./*G4NWKEVEU*BI*K3ECY8M
M,+9H^?-'E:IM=Y]2@<$X1=8_@!G_H3;P3R'+A1#"LFP9(^7/_T"+#DUZM.G2
MJ$^K1LUQ]6J*^6!MH9*B-HP4MW/CWGT;=R%5&ZD5TD+E!6,M6H`GIDC-+^,7
M5))3+K@%M_%\5@OQWIV"BD#=*:87_]R.4;?Y[>?3HU^OOCWZCN[;3U2UV#CC
M^_CSZ[<_V:(J_?@9M\5R$!62FWZX:5'08HU9!8MU6_QVWT`!&F(0+/F5!X-Q
MQN'VW(8'@MCA?1R&6**'(IH((HHG>J>1%KQ].**,,(C7$#6+6:?BC"FRN")C
M-CIDH(\\[J8<@0HUEF*1F0D$(XA6-7;D/W\0!&*.!CTYX44`=NGEEV"&B2`L
M&5&#HI@P3+F0*EJBZ69C5`2I$(,`GGE?"DTB>9"=)=IWWY%T.E;5E@@U1HUQ
M:N(&&6,8Z>CHCR-&FINDCU(*Z:28.IH1;Y9*ZB)#U;Q@6Z697DKJH[A]FF2F
MQEFV5W4_IO]0C9X&*=FAJW_0UMN4L%Y7U6Y5%EK;/[>I^L=MQ"++Y9O,-BNF
M@A8=RZQ#?]CI;+,+T=G8'[,:9.!QM!I$37[0%@3D@G=:5>U]>5J)+&""?O>"
M@@QBU&FI]YYJZK[Y@IA*1>/J2VFW"@7,+[X("QQB>`@-N:*<!(VK9KC_:+=B
M0A,_.6R4Z+4+I9F!"?0@#/\^I^&U*.-7GYO&500BFBE,[.W+*:.<`IFU^ADO
MQ1%I06*[#`6*U7\IPD"ALE`F*VB]%RGL],'ZIE!8"OV.F,*`$JGR=(>J(N3S
MU@E##;6:6J\H<U<$0P3Q1!K#T/5"O<*`G45KMS1W0GKI"&UO`AW_>[.95W^G
MK$4U%ZY@9&[**I&U8`9=^.,I:(&8N_=AG35D?"&$>5\$:7%99_\0G8(*V/75
MU[^A*VE0*I'MMH7,JA#FET#5Y'C;ZPS19]X6E/$%V1\X'Q1[7UHTEU_=!@D=
MFI)7!R_\UP<6(F<UI@,OT+>X>0NKA_TA5`WVQ0:;D+1&*SU0JM].QS3A/9+X
M(XU$[BA_X/\\"K_[.S<4X/L],CSG_.[CT8D""$#XB6\@(`/1V1AB,=Q`C#P"
M`=QMJI2IY0&+6!`42-ET-"-O[48%%>/@I,:7,"K`*S<)`0\U1C:B`RKD22V+
MVXC>]H\MJ(!3YNE:*G2C"H-UB"#KBE%N_V@(/0,J9#?R*E\-.74T);KL<2BS
M'..^9+G<,<N%!D%<ROSDIS?YKR`)')Q$R)>_@6B+("CR2Q>-MHTT:I$QW6H3
M#AL$1/R4S4L'@=F=TC:0-M['177"W?_NLZXN5;%^^>$1N`8R,L9\*T/?09$0
MZ6C&_-A):DXJ"-'*1\EQ2:F23J0(V$8I-OJ%;I1?7(AY^A7*F9'2:@<"C,_2
MDZ^$.*QE%&G@"R#&/`26BCR'@B4$=66?5/30;[HAB,6$.2I_C2=3S6Q5`]UV
M$.CY[S^HR@W0!A*W[42S1@39'@R`9QCH(6H@!K(4$C'X,E7`8C/F42(V7W89
MW0#R-M(S7JLBN?^SW;S`7664"+.*Q#_[E8HQQL(6`[VX$$\ZRSA4Z&%"-C/%
M^Y3K((;P$PVI=:?)F0L_:+2D]?0BD$L6@DPD-40:/4C(RECR2'=D3!5G^<=N
M?<\W@KL/'Y-%J-1]*0460M?Q*L,B-6EGIPY]@?A@L<:8?08X6_#3Q*+Z)X%0
ME3%3,E.PQJ4SD`IN9V6[Z/HJ4K7;)$<5QDPK6M>JUK:R]:VI"%+8*(7%@E0#
MAU%#'CO+ZJAM*F2'I/)K'3MTT8@L$YP&.9$OK780'XKQ?%?R&F_0N9T@I2*#
MCL5B<RIY*TWJ"(M!_"4,TM:V,HJSE22TSD``*R)Q?;907!/<#^T:,7'_*LI*
MV?-E*DVV+#$=$B0.A9DJ6597(%;T2\7-G9WT&KHN5H2,"#DC9`UU$#\V9J>/
M#*C([C2=1X:L5EZEDI\*BQ!)?I22!E$%K!#D1#J]8&+!1:WW4#20F`:4IMJM
M6+IJB)_D1BPO,7F:*4=RR[D^5ID&GJQ"[BHV6#)WP;LA+T)8B\N)A):7R8R@
M>1#"511FB3?&_(V(T7I9$`7KL'[55$DOUA!BPB!/9NK0;]/;S=L<*6X/9#$8
MA[>_V>I7QGD$\5Z&_)M4K.N<R.0:\![\$C=)&"3:$I-@F:77*/M6(S%[B'5O
MPV2#D-&CE&/4=+^[I\KET9)W<M]SFD1&B&FQ_XG4;`B&_C@00^"GRS0EE/+`
MBU!-HHF1^$'=,_$CR3I-AW$>6F!,^#KCD.#U8'*J\;T$B\`7\/5V+7E?+G4$
M,<5JN+.-U4U=$_PC:$U39K:+5XP>PKQ#'R@B'\KM/]I6WE=3*)NH6BT/@]S@
MW`C:5J7*B9-1PF`TS0N,Q\W/1L/)K&67Y(W.>P@9=_H/Z:Y8I@C9\HS9RQ[7
M]8V[![FJ$B$I9Q1Y9\X;4O1!BCVX/9]7S-66)!4*TT/9^(F1*$HQFKMMXXB!
M+T#.=HF`&QV2:?8KRY#E:T,>K4[YHN11#K'1J<N\3@M.D,.6OG@6_6E8'0G:
M73Z.-;5AR[>X2<2QT_^)V]U".EN0=2C2.DYGOVNE8(`56'$V&79*M+#&G[H4
M9F!N&)5A0K[[!-T@N#E2T;<9WY!BN]9/]_-]HKV0-H<[O'8.[T()B9\97\:6
MSA6(N\/L(JMG,;Q,O<_'?WY@BFA1W2PA:)$(+I)]`=M#RY/[PBB-VX)>*N`G
M6=B+-:,C%Y7-Q[?6<8<''#%10[WMIXSVQ).7X7]4`U-OHX:$"]VAG5:+\1IT
ME/@TIMU54XDW.:XX:Q&.])<AI#J>/XC#6$\3G:<DOF%2K['I[G0QY5<EET=0
M8:I!C>^%:$*X[Z'Q]=/[1FN;PRQR'C6V5\7LNOG>;/\3961SVX(48HTO^"W_
MXA25EVJDHDUP!"7D(>G=MS$_].QJV)G2IOD.3>EK<KWS30;.$L!<FN'!UA`R
MYS3^I1*.Q6^,]54K(BJ"%R\&@TFA!FH'<62]`0,PTDQX0EG.!%Z(IS2Q@BF%
M=8#O51#50BD,Z"@0:%4ZLG()-SB.,B]\H2LJ]F,S=Q`NYB&T<8*W@3/,8X&Y
M@BG_=!.VIQ)0I!]4ISEO,G(N44ABTC45]3K8=VUDUGI1AU')1GMF1QU:YR1@
M8AQ\E&?P5D=HXD)C!V>?$E,?TACHID1KN'8D>(73<7D]9TDYP6@"UVM/PWLA
M]30.]Q*7]TV/XH8@\X+>84T(-"J-)D$IZ#T5B(*C_^5]W"$SO91>[E%7@XA/
MFK%*I3(Q,EAZE7=*ZA$:)XA.NU8PL#1#7O9HJ:(3PW8W!..*`P&+`L&"#Q%&
MCP,1;\)W,<$F,A@^2O@/1L8NTR$<:Z5,:W6$U[-6<&=Y;.(S5!!1$*,7(:89
M1;9`V\`7;C-.BE8</;5N?K$=)C1RAC&-PE.-JP,8BU$8Z%2,M%.-#R8<T>$V
MR?%7Y+,%K_.+`8:'NJ&#_K0>_,AE$4&!K_2)#.%R!K:,/",3A9>035:$0Q<1
M5M8L-P,1FQ0FO\>0,S%^^(B1(J%WG"=X'IEF5K.1X@*2)EEHH+<0!G>2?<B1
M,?$C+LD2#OF0$5&1SC)&;O\">#'9?X&VDRHQD$#Y,!1A.Y>V3P')?SX)$XK2
M@Q>9E!XQDV_29001?"@CE?R%)GKHE".A(X2&C%KY$45):@='DC2GCY)RE`E6
M@%\9$O-D-6JYEAH!E6YBE:=7,^$'$44')ED)EQVQ00?BE7S)$4$9EHYBE2PD
MEK^$D'5Y<$\6F"%1#89Q4G3IF!,AEVABE<G&4!SE)I39F5!!F&;Y2V0I6XBI
M+RU97P`(<9ZYFDMAF6+297D)15F)>UZ"<ZP)"V*0FSX0"W,1"[F9F\'#"+F)
M!C[P*_K(;\AY'DP68Z4)-;27$&#SEB^Q#;`@G+G)"("I%+%P`S[`G4&%0&UA
M"-W_V9V\*1",P)W<.9E!D9-Z`0NI``OC")_N"9]H)9_O&9_N9$Q'5R@P`Y_3
MPA!OLI<KL0UBX`,]8*`(>J`](`;9:12QD*#E^0_;P)T+BA,%Z@,(BJ$'JJ&Y
M&0NC.1&QL*$^$#P7VIV#TC[P(Z`<<5HHZF$]!D``6D`Z1A/5(`84.IX'>J,4
M"A75<*/?J:-B<!,VBJ/CB9X(BIZ,`!+BF:,1>I[CJ9Y`,80F88M@0C"9>2>Z
MB(9@(ITGP0@)^J4W*J(WL)]'`0M'6I[4\*4](*1JBJ%MBJ'<V:`2$:((2J()
M2J9,@90/1VH'5&)\A3S!1&HT4:!&BIYB$`;"6:1%BJ=$_[&=X_FC11JD-C&D
MA:JHE<J=DKH17HJ>36JD4/H34DH2_TD0$>DE09A";Z*8(^&E8LJ@!U&@&_H4
M#ZJ@$;H-"IJI-5&B/>"AU+D-U7`+C."E&8J@N(H1=(JA=@JG56&')Y%D89-*
M&@8V?7A83A,3::JC29H0C-`#W]D4/8J@W6IY.D&I(SI1Y.J=&[&DY#D03LJ=
M'TH4H1H2M.DEC1:;8$)I\_HE,`&FC"H0_6H49LJD0`&K!MJOCJJ@/O"O#D&G
M!VJG.:JP1Z&GH@HV1R26NX2J8-.8%,&E_^"H2/H5'NL#X;H3Y-J@WVJH&K&I
MZVJ>GDH5\?H1?S"'7:)H6_9GT/_'++H($9'Q$+I:K!-1#8V@F[G9"-16#;$`
M"]3)K@7:H0P1K+J)!H80H0FQ#;XI!CV`!HPP.;-JH+6*M+`@M00!"T%KM6@@
M!K&PGUY["\%C",29F[<@$24ZI@VQK6YZ`PD1"];I`VY[MR*:K"9:78:PM#X0
MK-GFM1Y5M0D+$_>3HB712"U:(J<96HN[(@2W)`!DE!>!3,^)$$=:KA4!"Y>Z
MJ`5!KO\`NI8ZN`>!FZ$;IPF1HY8J!MLPH>`Z$%:+GD'7KJ?KLY'Z#[AKI')*
MN[[;$-70N537NXKJL_^@KC?0J4\ZNHKJNC?@LX7*NXKZNW6')AJ[$5>*7DDB
MLW6"C&O_^+(/\48I21"V>J054:,(B[`:VIU@1K`)&Z;#FJVTVZ;KB[H%(;OM
M>[^LNK(=B[`>%;!U^Z7*2A`(:PA.NK\(.IH$VP,0N[_T*Q!6^Z9W6A`,Z[G_
MT,"'RYT*+*;%21`)RJ!NJJ`0*Q(2"Q*Q!C4Y&WK_AZJ$J9YWEQL+9*9&6A&R
M>P,]<`-0FZC36V>K:ZD.3!#DV@.,@,`XC)X]8",W?+JA^YWB:;L#$;(W4,3;
MFL/CB:M,G,4\&[QS:Z1K&D%9?*EIH[++RZXM*Q"&8,686L3G&L$_S+H-^2PC
M8:_Z.KX*5682R3L%DFR-=JP8>A'<";:\B[`$`[_=2;2EBP;K_PNV:'`#C7`A
M"1K!(KJA'MJQ"0RA`]$((IHV$RH&.S7!?SP0D\RUVS>L<ML0<0NQPFJ@F3K!
MMTHFL:NK!DH0?NRW=ANVH5P08@K"[:NAC?"UL`L3S`I<5)-@T,H0I/1DATE*
M:0*HM)&:0ED0RHN\&E&D].ND.<I'0ZJ@!D&F3_RWU.NZ$3P07BRR=7:D04>F
MVW"D!-.YMPS"1CK."5&R"^O%`B'%@CR\1IJIRLN\[@I&"<'%_U"IU.P2XIL1
MS**B$;2]536!#,U>@;$%AE`(E]$ZS)*!M,R^(:&NK7RD\IRFMPH1"$N[""O/
MY'RF40S`#]&^]+O(!M&_1.P0&NP0,/\MJ?LKR+3SI2E=I_7[L"M-JP/QI05]
MAP>GT#H+S0DH$9*6,+:Y((,9'Z`I'C0\GAI!#;&`P&)@G2B+QDA\A/:L&;"`
MU3P,SCV,$+CKQ*+;6'@KG$5LS4%=P]V\SS(MT`N!NV%@>8JJ$(2ZLF3LSSX`
M,=5`G6'-UD8*J>B)$P=--PQ]S*S6;*CJFLZB`M.AO^YK$;"@R$0ZRAW-S0<Q
MK"^=V03\P>N\H28]$,,+U`*AR6[*1ZH;VB+:TB-<72-<V@:1R@XQR;Q)V;0M
MH1R,O[5<OP5,RPK<R_X[PA]L$\/<$4BM&]F[$!268)36G*!95E74N4.]$-`;
MQIF*S7]]$#K_2A"XF]W?S=NSJQ`^>LX^[:_E7*DY2K]Y'==7/-?C*:<"_,_U
M#9@@W9W9VL]FW+Q@K*//.Y[T^]4YA[T?<<=/Y$5UPXV0;>!"/*PE;,#&O:!B
MT`B,<,&;#<ZC&]*I+;]$C,",@-D'"L8*^L@)<=K^>\$>);\ZG-6,H-H'"MN<
MG;^1+-,5S!`$[*\EK1#G&^/WC+`.6[#^:LIZ6\1XB\D"$<(X<<(9X:P*P['0
M69H*L=1/#39OL\3<*1'?#,?PW)W\C,34YKI?/-#6?+M%>M*'K:V%?<Y0G,&1
M*B=NG>1PG;]RC<ITS;F%.CG7ZN4*L>7EV=?]G9X2[,5'M^8"4=8U_Y'8)X?@
M_O'0<8806MK@^5%<(FZ@:(#CF4J<",JYQ-K3L]S9(BHR2%X0JIW+P^J5-YW)
MFYSDH>[=;@K;&BK;&KK;#PZGC&JF^WOIHERW>`KA/^ZFMGS2L6X0PZNA$3K"
MU]T2(=D81JU*!O7L[]J]!S7M!9C"RS[MSWXI;MCEKELW\?P/T-M8N\NR"`HQ
MX\W=YHZ^$JRH$"/FYHS&Z'SHG6X0RNO>KEM==<X0Y`K8%SSGY)[FM1VFZ.V_
MN#LK>S[%!X&[`XZCB.W@&K%>OK?"#T&54>G<Q^>:W8&/`HRPP6S:W'V@N0GD
M!C&LQQVW".'*D@K3\BS+!"&_W7K!<!JA*O^>Y.TK+E\JXY].XPI*ZY[^X45<
MMA/LX<<-P@CKR`%LRAG-T^N>W@)/YZ.NY/M72LT.Z:3D$<?R?Z<90M)-:INK
M&6&LQI:Z#6F,Q&8+S*_KP]V9Q*Z^H^1MJ(Q0#=5YJ6&[NF!OZ,F;UMEM"'`?
M"V%0]^[M[WV4[PMQKF$\[A=2]VE_J1$,Z/_>W?]@J=BY#<)9J8:MX;7G\(W"
M+-:+BP,EG0[CD#@%$:,]K*.\OY-#W/+;OQD^YAONIOW=P09*M[F<VNQ+^B,Z
MZJ7N`P33VT5OZ24*ZSEOOK-MX\1=^AG*J"A>_'4+MK^][L%=[&#JIF*@Z65,
M\ZR\Y/$185B6_3G_!!(,EIS;H9B:IXFDE&@5(<6=Z[K%RM[C29U;S;MG7!"(
M'MY%&@O4H,8&@?ZN2R9VO^4>M<0`T</'C8%B_HDA>(/1/X8#'3*$R'!;0A\&
M(UZ,B-`A18X%86$$64TC08$<MV$TM#$6Q)$^J$&$Y;"DS'\S%S*DV`/D3IX]
M??JD!BOH4*%%A[[\^9,:4:9&G2:%&M)I4ZJJHD*L]F=+"AA<8<!X\57LU[!?
MN5)1A?0J2%B,!,XDZ&,EVY9R&;8UQ.CF/[UY+6)LY+?1Q6UB-HK9BSCO3EAU
MY_+U>U*B8D:2(3(2,U.,Y+Z,/C+,&QKD-D:&`C_VV3=PZ4:=&<6JMA9TL&:'
M/ABI)4PY]EW6?R'&\B$3S6?,C39?%K-:]G+FS9T_AQZ=>=!"?ZA0,0L6+!4M
MA5+MEHX15C7<X<V?1Y]>_7KV[=V_AQ]?_GSZ]>W?QY]?_W[^_?W_!S!``0<D
ML$`##T0P00479+!!!Q^$,$())Z2P0@LOQ#!##3?DL$,//P0Q1!%')+%$$T]$
I,4455V2Q11=?A#%&&6>DL48;;\0Q1QUWY+%''W\$,D@AAR32QH```#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>rydexlogo.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 rydexlogo.gif
M1TE&.#EA2P$X`/<``````(````"``("`````@(``@`"`@("`@,#`P/\```#_
M`/__````__\`_P#______P``````````````````````````````````````
M````````````````````````````````````````````````````````````
M````,P``9@``F0``S```_P`S```S,P`S9@`SF0`SS``S_P!F``!F,P!F9@!F
MF0!FS`!F_P"9``"9,P"99@"9F0"9S`"9_P#,``#,,P#,9@#,F0#,S`#,_P#_
M``#_,P#_9@#_F0#_S`#__S,``#,`,S,`9C,`F3,`S#,`_S,S`#,S,S,S9C,S
MF3,SS#,S_S-F`#-F,S-F9C-FF3-FS#-F_S.9`#.9,S.99C.9F3.9S#.9_S/,
M`#/,,S/,9C/,F3/,S#/,_S/_`#/_,S/_9C/_F3/_S#/__V8``&8`,V8`9F8`
MF68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F,V9F9F9FF69FS&9F_V:9
M`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,S&;,_V;_`&;_,V;_9F;_
MF6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS,YDS9IDSF9DSS)DS_YEF
M`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9S)F9_YG,`)G,,YG,9IG,
MF9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`,\P`9LP`F<P`S,P`_\PS
M`,PS,\PS9LPSF<PSS,PS_\QF`,QF,\QF9LQFF<QFS,QF_\R9`,R9,\R99LR9
MF<R9S,R9_\S,`,S,,\S,9LS,F<S,S,S,_\S_`,S_,\S_9LS_F<S_S,S___\`
M`/\`,_\`9O\`F?\`S/\`__\S`/\S,_\S9O\SF?\SS/\S__]F`/]F,_]F9O]F
MF?]FS/]F__^9`/^9,_^99O^9F?^9S/^9___,`/_,,__,9O_,F?_,S/_,____
M`/__,___9O__F?__S/___R'Y!`$``!``+`````!+`3@```C_`/\)'$BPH,&#
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MV(W7(7;_`!,>:07A(T\S*(*H4&W^E?@A/DTMJ)Y!=3GX3XTWYKAACL<YJ.%"
M=`6I(VW_6-:6C3@29".-K1&HI)`K'@4ED48NM^1!0=)ED7))S2?:+XS%4UU0
MQC#ET$V;M%BB,3G]-I`_;.;4S"_[D2@0/G'JE\M-7QF4G3'`1.CF0''B)`IM
M`]*66(Q<NA7=>P89%Y^B7"Z7T&,#QE6I=*E0:J5SE@J$*:125HIE<9XJIF2E
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M?R+RUI^?%085\W0K`Z;57N+=::V%$>9*TH2$!C=6)=,^*_;&2O[_G._-5L?[
M+6-5.@COO:PYJMS0L0T4N,Y*#RRNP;'F?*^^,7);<*(^S^P6N>XA[B1#>)%5
M"9@$Q1.:<"<)E%]O@PYDE=B"X5.)UZ,9HTZ$?^42H#&X43+.C7A.K.8_M^WW
MV\M!4:(.TSI[6[#24EL6Z=*C6LJ4T0AGJBC0EI/:O9%T)3TJT(WZR+WTZ2_^
M^=)8\BSJC6F-[JWDJ8@2;7V;]+\57[YIBFWN-IJZ,"\H$9&8A'I"#3&)[3/.
MB%;,"%(V2@`C+OB``P%_L;L1T4A>C/*;XL0E$'O%)5P.`N&J)G>T<AUL(2J,
ME/RZMSZ`/0>%,BM7"^?U/O?0L')!NU>/_X#4L"R53B]>ZXQ^[,2).H$%0M79
MDT#X(YQ*'`\8=]M3`B<6CX*(J8KW(<@!.X,+.!P&5&Z9(:).,[YN50]!C8)>
M4E1A./@Q)%$[BYY`9F*]("I&%27$8QNU)\A`5DY&5*-1U%1"C0@ED8RBL2)^
M[D8F@O2*@%U466]0)T:[M4V!S>-:9@)S%,Z,LHQE^N!I>@;$^QU(5)KSHZI`
MMQ95JNI&2)-(#/FE1_:!#Y=]7&3?=`C,6\HR77&\GATKXH=F'LX/^K/8F$S'
M'[H5Q"\LFZ!`F">4;4XL=MX4CED:Z;5*R.-%\=C/V$HT3=.U3I'1*V3X#H9&
MQZW2D*\<4CTCM_\P.8H/GZ%Z8[K>*#BGU26.H%*F&Q.*I4W9CR*VJ<Y5"&,Z
M:U*(67CK"11%XR81`3"5G6S6`-E&B6%U96_@#"?;NAB_P4EM?8$DH3V=AL^`
MJ0M_./W;XQJ7QWWQBX>\].D.QX6X9WYKJ"\L(0MCVLJ:%C6@IRJB?$A&EET=
M4"@L/8@#A>,?+P6%I12]4$&8IT5J4!22G1%KB9*HQ0T)TF_^?"%#!0FU2J41
M:K^4IT#4V$)C`A202H-:'?T*T,_]+"%36PL=W0HUS$C(']3P:"3'(Y"5B164
M6&E*6%/*3:*,5#,8#:U:0\JV8VP(KO,\*+I6B"#4TA)I[EMCYVAJ3Z'_#E*U
MM*6-T>KJLQ3V,6CK2Z:[$OO0@T"(/A?\1T1[`ZR#<$*B1(FL)P=%U<)P-HK1
M75UN^L?=[O8OI6)JIU]Z1-=>,K2-5#LO^W@+58$5[9C'D:=Z?>E;]LIFOO25
M[4`;NKFFLE=K9>E)KR2Z3H-\,2B5@$AHKE*4S1IP1-C1KCE?1.$:<2>MG!SF
MOFB95'L=97(RHN>ZZ#<K$E]J,B/>JTMEV$IV'92%Q6D<DGBDHUC^E)BN_.>I
M*)=46&:)QM3PQQ'K$T;DG8RR#]./,?(SEM&0UKH&(2M1_('%WE`V(9+E"^Y,
M&]>[YE:@204='QETS!Y?)'N*:^H_^%K,_2H'_Y!K[N6EEEE8W;+1(LY1BY2D
M*J14U.H7*9O8:`DBV4H`X\"4X+)`#ER6!S?K'U?-JD0N^24V$?@LB&2E^#S,
MR\X]Z;`*$B9J.TU8\GTXF#!=4:J+%%R]`LF%B1P?4EHE*:1XM3YQ*5M?<B'I
M@2#Z)G^I!%BHH9\J*OI&=&)=1+QZNA[5167TR<57LFRK'$)*OG2>9ROKN2-%
M(?:>J1VN^.9KZO5"E4BRU3.I@89?=(M[H#..=XXV6A9V3BRY!M$@&7$]UC&=
MSAC.R$[8'DWOJ_1I(/@X1O_`HNN,\BIM!0;FAEW8X=56#7'P!.JGGS8I6=J4
MJ>VZ<:E7;&>>AJN]]?\K^7Y9C>/0Q7<Q-:+X&F<='5HO)16]HD^&5<JRXPDD
MRZ:+^)T>5D6;F(R:I&&R<.JSY#.9S&4K4_)`1*2QHG`[SMO.MB]UC$B8HYB0
M?XP/]1#&LRN->H^I?K.=,_5U_?98D%V_4HR]_MH]\SE(J:@@H-E93HLN6KQ\
M,\@QTK:LWB`XJZ"TD+*"4\!_3./";5OT_MZ9:3#CEK!@/G=?BV8]4$T.UAR_
MG*6$6=,:U1#63[WAJF4.9NYU?7,A![+LD71<B!EXFH,6R.W8!M(H$YVDV.R+
MFH#73B2.QK3+I>;Q@,=[@H8*Q'%M**A/6]<?"E:AY598]#U^PA!?S?D*!5__
M8(D&6_*E&?7]VHZOM*FD39BTI)3H,="%KJ0Y^4HK\5"'!KWBQ;C=WRL<8U)9
MP7YN<W]PX%L3MU0_I&[78UNE8E1A=G(*V(`C9D,59ULIYBGX<T+RPF(\M8`K
MYEX#TW%'X6Z?@W`?4F0%X0\49EQ6(4Y7)A#^H!W```Q+%A%!]B'&=0R<\`N;
M8(/-\$0LJ(/&]2(LZ&Y*@H0F""04016M,CI407/]Q"23<H+S0R-*.#\$XH0D
MB(5;."1[UH548G/%!16(UGM3@1%7DB!LV(9NR(;X0$5^X7-O6(=V>(=X*!&\
M$V!YV(=^^(=V6"%-=FR`6(B&>(A/,7B6Y7>(V(B.__B(&N$/)@4RHT&'D'B)
MF)B)!>%(UV*)FOB)H(B(*B,4E,`),1B*J)B*>%@M!Z>*KOB*30B&L.@2/Z8E
MY'$I)]8898@6NTA$4SB+C"0YO6@1J*%CK*9*L285*Y<::2$KFD<EOPB,(4%W
MT>@12P%+WP9/D;&,V_B,U\.$U2B-'O&,/P9+)%B./-(D]2-WKA)(4A)[MIB.
M.!*/]#@E/I8N]1AOT:B.)?8D)Q@DL:8EM;B.BO*/LBB.()$8LDA+@W5?_E(O
MG.-UG5)/I.(<\R0U*1=$"^(<AJ-QL`)01[,HE_-NCW)#\+,8G>*0$ZDS..-J
M",E(/A.24;@HVW-3='$D!_^R/1-I4S`'+GI62QN'$@&#*L91%[$Q&3=9+SZY
M'$.I*K-$5#9UE)B7DQLI&RHI/5217L_A=3[9).."%"\Y%RC)1X%DE%#5+@I)
M,"O)*%0"&2MWC==8EF#I+MV#D6OV/NKB*(`T+MXRD^Y80HRA;@H)F%H(EZ/W
M6U6XE3$2>V$)$_=58TL52U42,,AD+L6X'![VEHD$E"&I8X*9+D?";HN1C)`1
M.%'H.#WSC829,S=E/>_!+8,%5*AA0\/8F!4QF#N&CS0I?GWICG'IEH?I+8H$
MD8I#%0B!3%XIE(9UFBHFG!^V1@A#.'#FG'=)G911F4H1+S&"**]BC+89:E9"
M/U>_V)N+^1C1B9OJ=IGHF9+)&)+`5#V]N3.IN5=*V3W;\S>=\G%@&9?5R9J\
MA)H8F9%IJ3V;>9T'8R7LIENU^9U88S4IB9*E":$0Z4.5:4C&:1R-\Y:'V9)F
M1IU@ES-C1C\RT4=#4Y-U29_R"9^`*9)6>:"CIY7<\TJFH9,,RA*2<DL^Q%0C
M]"DN:J&34FOJHD@Y=)[GDCD'&D*ZV90TE)S1Z6.J622,TI'QD9)X"9_DTD/5
0PY@UNJ5<VJ5>^J52$1``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
