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Frequently Asked Questions About Reverse Splits
Effective October 17, 2011

What is a reverse split?
A reverse split increases the NAV and proportionately reduces the number of shares outstanding for a fund. A reverse split does not change the value of investors' investments. For example, in a 1:5 reverse split, every five pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced five times higher than the NAV of pre-split shares.

Which ProFunds are subject to reverse splits, and what are the ratios?
Funds subject to 1:5 reverse splits effective on October 17:

Fund Investor

Split Ratio
UltraShort NASDAQ 100 USPIX USPSX 1:5
UltraShort Small Cap UCPIX UCPSX 1:5

Funds subject to 1:10 reverse splits effective on October 17:

Fund Investor

Split Ratio
UltraShort Emerging Mkts UVPIX UVPSX 1:10
UltraShort Lat-Am UFPIX UFPSX 1:10
Mobile Telecom UltraSector WCPIX WCPSX 1:10


Who will participate in the reverse splits?

Schedule for reverse splits:

Record Date Effective Date
October 14, 2011 October 17, 2011

Any shareholder as of the close of the markets on the record date (see table above) will participate in the reverse split. Shares will begin trading at post-split prices on the effective date, October 17, 2011.

How many shares of each fund will be received as a result of the reverse splits?
The number of shares to be received will be different for each fund, depending upon the fund's split ratio (see tables for split ratios).

As an example, ProFunds UltraShort NASDAQ-100 (USPIX) will undergo a 1-for-5 reverse split. This means for every five shares of the fund, an investor will receive one share. As a result of these reverse splits, share prices will be adjusted proportionately higher.

Example of a hypothetical 1-for-5 reverse split:

  # of Shares Owned on Record Date Hypothetical NAV Value of Shares
Pre-Split 1000 $5.00 $5,000.00
Post-Split 200 $25.00 $5,000.00

After the reverse split, shareholders will own fewer shares, but the price per share will be proportionately higher. As a result, the value of an investment will not change.

Will ProFunds shareholders participating in reverse splits incur any additional fees?
Accounts held directly at ProFunds will not incur a fee for this reverse split. ProFunds shareholders holding shares through a brokerage platform could incur a corporate action processing fee. Shareholders should check with their brokerage firms to determine whether their accounts will be charged.

Will the ticker symbols or CUSIP numbers change?
No. Neither the ticker symbols nor the CUSIP numbers of the funds undergoing reverse splits will change.

Investing involves risk, including the possible loss of principal. ProFunds are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short ProFunds should lose money when their benchmarks or indexes rise. See the prospectuses for a more complete description of risks. There is no guarantee any ProFund will achieve its investment objective.

Carefully consider the investment objectives, risks, charges and expenses of ProFunds before investing or sending money. This and other information can be found in their prospectuses. Read the prospectus carefully before investing. For a ProFunds prospectus, please call 888-PRO-FNDS (888-776-3637), or visit www.profunds.com. Financial professionals should call 888-PRO-5717 (888-776-5717).

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