1.800.920.0259 option 2

Performance

Performance versus UNG's Benchmark

UNG seeks to manage its portfolio such that the average daily changes in its Net Asset Value ("NAV") over any rolling 30 day periods is within 10%+/- of the average daily change in the price of the Benchmark Gas Futures Contract(s)*.

30-Day Period Ending
AVERAGE DAILY RETURN
Difference
(Absolute)
Difference
(As a Ratio)
***
Benchmark
UNG's NAV**

7/31/08
(1.245%)
(1.241%)
0.008%
0.211
Since Inception****
AVERAGE DAILY RETURN
Difference
(Absolute)
Difference
(As a Ratio)
***
Benchmark
UNG's NAV**

7/31/08
(0.024%)
(0.016%)
0.011%
1.082

Past performance is not necessarily indicative of future results.

* The Benchmark Gas Futures Contract is the near month futures contract for natural gas. When the near month contract is within two weeks of expiration, the Benchmark Gas Futures Contract will become the next contract to expire.

** Changes in U.S. Gas Fund's NAV in percentage terms are intended to closely track the changes in percentage terms in the price of a specified Gas Futures Contract.

*** Measures the absolute difference (the difference in UNG's average daily return versus the Benchmark's average daily return) as a percentage of the Benchmark's average daily return during the relevant period.

**** UNG commenced operations on 4/18/2007.


For a copy of the Prospectus contact:
ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203 or call 1.800.920.0259, option 2 or Click Here.

This investment may not be suitable for all investors.

For further discussion of these and additional risks associated with an investment in UNG units, Click Here.

Investing in natural gas interests subjects UNG to the risks of the natural gas industry. These risks could result in large fluctuations in the price of UNG’s units. An investor could lose all or substantially all of his/her investment. The United States Natural Gas Fund is distributed by ALPS Distributors, Inc.

© 2008 United States Natural Gas Fund, LP