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ProFunds Announces Reverse Share Splits of Five Mutual Funds

Bethesda, MD, October 5, 2011 — ProFunds, a premier provider of alternative mutual funds, announced today reverse share splits of the Investor and Service classes of five of its mutual funds. The reverse splits will not change the value of a shareholder's investment.

Reverse Splits

Two funds will reverse split shares 1-for-5.

Fund Investor

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

Three funds will reverse split shares 1-for-10.

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

All reverse splits will apply to shareholders of record as of the close of the markets on October 14, 2011. The funds will trade at their post-split prices on October 17, 2011. The ticker symbols and CUSIP numbers for the funds will not change.

The reverse splits will increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for the 1-for-5 reverse splits, 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 net asset value ("NAV") of a pre-split share.

Illustration of a Reverse Split

The following table shows the effect of a hypothetical 1-for-5 reverse split:

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

About ProFunds

ProFunds is part of ProFunds Group.® ProFunds Group is a premier provider of alternative mutual funds and ETFs offering more than 100 ProFunds mutual funds and more than 120 ProShares ETFs. Founded in 1997, ProFunds Group has nearly $30 billion of assets under management.1

Media Contact:

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

Investor Contact:

(888) 776-3637, profunds.com

Financial Professional Contact:

(888) 776-5717, profunds.com1 As of 8/31/2011Ultra or Short ProShares and leveraged or inverse ProFunds seek returns that are multiples or inverse multiples (e.g., -2x) of the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next, before fees and expenses. Due to the compounding of daily returns, 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 their holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the ProShares or ProFunds prospectus.