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Fine Tuning your Oil and Gas Exposure
Introducing a third energy sector fund

Some savvy investors have benefited from the long-running outperformance of U.S. energy stocks. Indeed, for the three years through May 30, 2006, the Dow Jones U.S. Oil Equipment, Services & Distribution Index has outperformed the S&P 500 Index^{^®} and the NASDAQ-100.

Now, with the launch of Oil Equipment, Services & Distribution UltraSector ProFund, investors have a third ProFund that offers focused exposure to the energy sector—and another tool for fine-tuning their exposure to the oil-patch.

Oil Equipment, Services & Distribution UltraSector ProFund provides an opportunity to seek profit from a potential increase in energy drilling, services and distribution companies that should benefit as demand for natural resources grows.

Oil Equipment, Services & Distribution ProFund
ProFund	Ticker	CUSIP	Fund Number
Investor Class	OEPIX	74318Q-708	61
Service Class	OEPSX	74318Q-807	91

More specifically, the new Oil Equipment, Services & Distribution UltraSector ProFund seeks to provide magnified exposure to the Dow Jones U.S. Oil Equipment, Services & Distribution Index^{^®}. The fund seeks daily investment results, before fees and expenses, that correspond to 150% of the daily percentage movement of the Dow Jones U.S. Oil Equipment, Services and Distribution Index^{^®}.

The Dow Jones U.S. Oil Equipment, Services & Distribution Index measures the performance of the oil drilling, equipment and services segments of the U.S. equity market. Component companies include suppliers of equipment and services for oil field or platform users. It is not possible to invest directly in an index.

ProFunds' Energy Belt

Oil Equipment, Services & Distribution UltraSector ProFund is one of three ProFunds designed to give investors focused exposure to the energy segment of the market.

Investors interested in the broader oil and gas market segment can also consider Oil & Gas UltraSector ProFund, which seeks to provide magnified exposure to the Dow Jones U.S. Oil & Gas Index. In other words, the fund seeks daily investment results, before fees and expenses, that correspond to 150% of the daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the energy sector of the U.S. equity market. Component companies include not just oil drilling equipment, services and pipeline firms, but also major oil companies and coal, liquid, solid or gaseous fossil fuel producers.

And those investors, who expect this segment of the market to decline, can seek to profit, or mitigate losses on existing holdings, with the Short Oil & Gas ProFund. The fund seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Oil & Gas Index.

For more information about our energy sector ProFunds , visit ProFunds ProFiles or call (888) PRO-FNDS.

Not just Funds, ProFunds™

Because the Oil Equipment, Services & Distribution UltraSector ProFund is benchmarked to the Dow Jones U.S. Oil Equipment, Services & Distribution Index, investors will know how the fund should perform on a daily basis as the Index strengthens or weakens.

Investors in Oil Equipment, Services & Distribution UltraSector ProFund have the flexibility to shift their investments as market conditions change, among the energy-related ProFunds or among any of the more than 50 ProFunds. There are no limits on the number of exchanges among the more than 50 ProFunds, although exchanges may have tax consequences.

Investing in ProFunds involves certain risks, including in all or some cases, leverage, liquidity, concentration, non-diversification and repurchase agreement risks. These ProFund are also subject to risk of fluctuating prices of precious metals, due to inflation, currency fluctuation, illiquidity and economic/political risk. These risks can increase volatility and decrease performance. Please see the prospectus for a more complete description of these risks. In addition, because sector funds are concentrated in a single area of the market, they can be more volatile and riskier than more diversified mutual funds, and therefore in themselves, don't constitute a complete investment program. All ProFunds permit active investment strategies that can decrease performance and increase expenses.

The Oil Equipment, Services & Distribution UltraSector ProFund has a limited investment history and there is no guarantee the fund will achieve its goals. For the most recent fund performance information, please visit our Prices/Performance area.

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Many ProFunds routinely employ leveraged investment techniques that magnify gains and losses, and result in greater volatility in value. Each geared (leveraged or inverse) ProFund seeks a return that is a multiple (e.g., 2x, -2x) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, geared ProFunds' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their ProFunds holdings consistent with their strategies, as frequently as daily. For more on risks, please read the prospectus.

ProFunds are not suitable for all investors because of the sophisticated techniques the funds employ. Investing involves risk, including the possible loss of principal. ProFunds 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. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProFund will achieve its investment objective.

All ProFunds are subject to active investor risk. There are no restrictions on the size and frequency of trades and no transaction fees. The frequent exchanges our policies permit can decrease performance, increase expenses and cause investors to incur tax consequences.

Carefully consider the investment objectives, risks, charges and expenses of ProFunds before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

ProFunds are distributed by ProFunds Distributors, Inc.

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