ProFunds Group^® Names Troy Goldstein Director of National Accounts

Bethesda, MD, July 5, 2011—ProFunds Group, a premier provider of alternative ETFs and mutual funds, announced today that Troy Goldstein has been named to the newly created role of Director of National Accounts. Mr. Goldstein, most recently with UBS AG, will oversee the National Accounts Group for ProShares ETFs and ProFunds mutual funds. He reports to Donald Roberson, Managing Director, Distribution for ProShares and ProFunds.

"Troy has extensive industry relationships and a proven track record of building teams, delivering strategies and providing investment solutions," said Mr. Roberson. "He'll be a valuable asset to the team as financial advisers increasingly turn to our alternative ETFs and funds to be part of their clients' portfolios."

Mr. Goldstein was most recently with UBS AG as Executive Director, Head of Portfolio Distribution Europe. In this role, Mr. Goldstein managed sales specialist teams across Europe focused on discretionary and non-discretionary fee-based portfolio solutions and supporting structured products, funds and ETFs.

Previously at UBS, Mr. Goldstein was Executive Director, Head of the Investment Solution Sales Team in the firm's U.S. headquarters in Weehawken, NJ. Before that, he held two positions within UBS' Products & Marketing Group, in Zurich, Switzerland. Mr. Goldstein began his career in financial services as a Financial Advisor with PaineWebber, which later became UBS.

Mr. Goldstein received his J.D. from Kensington University Law School and his B.S. in Business Administration – Financial Management from California State University, Long Beach. In addition, he completed the Securities Industry Institute at the University of Pennsylvania's Wharton School.

About ProFunds Group
ProFunds Group is a premier provider of alternative ETFs and mutual funds. ProFunds Group offers more than 120 ProShares ETFs, including the largest lineup of geared (leveraged and inverse) ETFs¹ and more than 100 ProFunds mutual funds. Founded in 1997, ProFunds Group has more than $32 billion of assets under management.²

Media contact:
Tucker Hewes, Hewes Communications, Inc., 212-207-9451, tucker@hewescomm.com

Investor contact:
ProShares, (866) 776-5125, proshares.com

¹Source: Lipper, based on a worldwide analysis of all of the known providers of funds in these categories. The analysis covered ETFs, ETNs and mutual funds by the number of funds and assets as of 6/30/2010.
² As of 6/1/2011

Leveraged or inverse ProShares ETFs and ProFunds seek returns that are multiples or inverse multiples (e.g., -200%) of the return of an index or other benchmark (target) for a single day, before fees and expenses. Due to the compounding of daily returns, leveraged and inverse ProShares' and ProFunds’ returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the ProShares or ProFunds prospectus.

Investing involves risk, including the possible loss of principal. ProShares and 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. Inverse ProShares and ProFunds should lose money when their benchmarks or indexes rise. See the prospectus for a more complete description of risks. There is no guarantee any ProShares ETF or ProFund will achieve its investment objective.

Carefully consider the investment objectives, risks, charges and expenses of ProShares and ProFunds before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them at www.proshares.com or www.profunds.com.

ProFunds mutual funds are distributed by ProFunds Distributors, Inc. ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the fund's advisors.