ProFunds Now Available With No Transaction Fee at Fidelity

Bethesda, MD, December 19, 2000 — ProFunds announced that its Investor Class shares are now available through Fidelity's FundsNetwork on a no transaction fee basis.

"We are excited to have 22 ProFunds available through Fidelity's fund platform with no transaction fee," said Michael Sapir, Chairman of ProFunds. "It reinforces our commitment to our investors and to making the purchase of ProFunds as convenient and inexpensive as possible."

The ProFunds benchmarked to broad indexes that are available through Fidelity with no transaction fees include: Bull ProFund, OTC ProFund, UltraBull ProFund, UltraMid-Cap ProFund, UltraSmall-Cap ProFund, UltraOTC ProFund, UltraJapan ProFund, Bear ProFund, UltraBear ProFund and UltraShort OTC ProFund.

The ProFunds benchmarked to Dow Jones U.S. sector indexes that are available through Fidelity with no transaction fees include: Biotechnology UltraSector ProFund, Energy UltraSector ProFund, Financial UltraSector ProFund, Healthcare UltraSector ProFund, Internet UltraSector ProFund, Pharmaceuticals UltraSector ProFund, Real Estate UltraSector ProFund, Semiconductor UltraSector ProFund, Technology UltraSector ProFund, Telecommunications UltraSector ProFund, Utilities UltraSector ProFund and Wireless Communications UltraSector ProFund.

ProFunds is an innovative family of mutual funds designed to overcome the limitations of conventional index funds. ProFunds permit investors to react to financial or economic developments by exchanging their investments among ProFunds without restriction. ProFunds impose no transaction, entry or exit fees.

For more complete information on ProFunds, including charges, expenses and ongoing fees, please call ProFunds at 1-888-776-5717 for a prospectus. Read it carefully before investing or sending money. ProFunds are distributed by Concord Financial Group.

"Dow Jones" and its U.S. sector indexes are trademarks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by ProFunds. UltraSector ProFunds based on the Dow Jones U.S. sector indexes are not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in such products. You cannot invest directly in an index.