0001193125-08-104594 Sample Contracts

SUBLICENSE AGREEMENT
Sublicense Agreement • May 7th, 2008 • CurrencyShares Russian Ruble Trust • Maryland

This Sublicense Agreement (this “Agreement”) is entered into as of June 9, 2006 (the “Effective Date”), by and between PADCO Advisors II, Inc., a Maryland corporation (“Licensor”), and Rydex Specialized Products LLC, a Delaware limited liability company wholly-owned by Licensor (“Licensee”).

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LIMITED LIABILITY COMPANY AGREEMENT OF RYDEX SPECIALIZED PRODUCTS LLC
Limited Liability Company Agreement • May 7th, 2008 • CurrencyShares Russian Ruble Trust • Delaware

This Limited Liability Company Agreement (the “Agreement”) of Rydex Specialized Products LLC (the “Company”) is entered into as of September 14, 2005 by PADCO Advisors II, Inc., a Maryland corporation (“PADCO II”).

FORM OF PARTICIPANT AGREEMENT
Form of Participant Agreement • May 7th, 2008 • CurrencyShares Russian Ruble Trust • New York

This Participant Agreement (this “Agreement”), dated as of , 200 , is entered into by and between (with respect to this Agreement, the “Authorized Participant”, and with respect to the Trust Agreement referred to below, an “Authorized Participant”), The Bank of New York, a New York banking corporation, not in its individual capacity but solely as trustee (the “Trustee”) of the CurrencyShares Russian Ruble Trust (the “Trust”), and Rydex Specialized Products LLC, d/b/a Rydex Investments, as sponsor (the “Sponsor”) of the Trust.

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