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ProFunds Now Available Through ING Variable Annuities

BETHESDA, Md.-- May 1, 2001--ProFunds, a leader in index-based mutual funds, announced today that three of its insurance product mutual funds have been added to the GoldenSelect(R) portfolios lineup offered by ING Variable Annuities.

It is with great pleasure and enthusiasm that ProFunds begins its association with ING, says ProFunds Chairman Michael Sapir. We look forward to providing ING and its clients with innovative index products that allow investors to respond to changing market conditions."

Effective today, ING Variable Annuities portfolios will be available to be allocated to ProFund VP Bull, ProFund VP Europe 30 and ProFund VP Small-Cap. These ProFunds seek daily investment results that correspond to the daily performance of the S&P 500(R) Index, ProFunds Europe 30 Index and the Russell 2000(R) Index, respectively.

GoldenSelect(R) variable annuities are issued by Golden American Life Insurance Company. Golden American is a subsidiary of ING Group, one of the largest integrated financial services organizations in the world with over $467 billion in assets under management and over 100,000 employees.

ProFunds offers investors the widest choice of index-based mutual funds of any fund family. ProFunds offers 36 insurance product index-based funds and 33 publicly-available mutual funds. ProFunds offerings include conventional, leveraged, bear and sector index-based funds.

ProFunds do not restrict investors' abilities to react to financial or economic changes by exchanging their investments from one ProFund to another ProFund and are designed to allow for significant asset inflows and outflows from investors.

For more complete information on ProFunds, including charges, expenses and ongoing fees, please call ProFunds at 888/776-3767 for a prospectus. Read it carefully before investing or sending money. You cannot invest directly in an index. ProFunds are distributed by Concord Financial Group.

The "S&P 500(R)" Index is a trademark of The McGraw-Hill Companies, Inc. and have been licensed for use by ProFunds. The Russell 2000(R) Index is a trademark of Frank Russell ProFunds are not sponsored, endorsed, sold or promoted by these organizations and the organizations make no representation regarding the advisability of investing in ProFunds. You cannot invest directly in an index.