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ProFund Advisors Managing 10 Funds for Toronto-based BetaPro Management Inc.

New fund family comprises five long and five short funds

Bethesda, MD, October 17, 2005 — ProFund Advisors LLC announced that BetaPro Management Inc. ("BetaPro"), an innovative Toronto, Canada-based financial services company, has selected the firm to manage the Horizons BetaPro Funds, a family of 10 funds designed for sophisticated Canadian investors. The new index-based funds are now available through brokers and financial professionalisors across Canada.

"BetaPro is a forward-thinking firm, and we're delighted that they selected us to manage these funds," said Michael L. Sapir, Chairman and CEO of ProFund Advisors LLC. "At ProFunds we've built our business by developing innovative tools for sophisticated investors—and we're now one of the fastest growing mutual fund companies in the United States. The Horizons BetaPro Funds are more evidence of the growing interest in fund choices that let investors do more than they can with conventional funds."

The Horizons BetaPro Funds line-up comprises five long funds and five short funds, all designed to magnify the return of an index. The Bull Plus Funds include the S&P/TSX 60® Bull Plus Fund, NASDAQ-100® Bull Plus Fund, Canadian Bond Bull Plus Fund, U.S. Dollar Bull Plus Fund, and Crude Oil Bull Plus Fund. The Bear Plus Funds include the S&P/TSX 60® Bear Plus Fund, NASDAQ-100® Bear Plus Fund, Canadian Bond Bear Plus Fund, U.S. Dollar Bear Plus Fund, and Crude Oil Bear Plus Fund.

About ProFund Advisors LLC

ProFund Advisors LLC, located in Bethesda, MD, is investment advisor to ProFunds, the nation's largest lineup of indexed mutual funds1, with more than 40 fund choices. ProFund Advisors also manages the ProFunds VP products and Access One Trust. ProFunds do not restrict investors' abilities to react to financial or economic changes and shift their investments from one ProFund to another, although exchanges may have tax consequences.

Investing in ProFunds and Access One Funds involves certain risks, including in all or some cases, leverage, liquidity, concentration, non-diversification, high yield, interest rate, credit and repurchase agreement risks. These risks can increase volatility and decrease performance. Please see the ProFunds prospectus and Access One Funds prospectus for a more complete description of these risks. All ProFunds and Access One Funds permit active investment strategies which can decrease performance and increase expenses.

About BetaPro Management Inc.

The Horizons BetaPro Funds are managed by BetaPro Management Inc., a Toronto-based financial services company. Management of BetaPro includes Adam Felesky, President, and C.E.O. Philip Armstrong, a former Partner at Altamira Investment Service Inc. BetaPro is an affiliate of Jovian Capital Corporation, a publicly traded financial services holding company with nearly $9 billion in client assets.

An investor should consider the investment objectives, risks and charges and expenses of ProFunds carefully before investing or sending money. The prospectus contains this and other information about ProFunds. To obtain a prospectus, please call 888-776-3637 or visit www.profunds.com. Financial Professionals should call 888-776-5717. The prospectus should be read carefully before investing. ProFunds Distributors, Inc., distributor.

1 Source: Lipper. October 12, 2005. Lipper defines "Indexed Fund" as an open-end mutual fund which is pure index, enhanced index or index-based, but is not an Exchange Traded Fund (ETF).

Media contact

Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com