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ProFund Advisors Launches U.S. Dollar ProFunds

Innovative mutual funds offer simple ways to take advantage of a rising or falling dollar

Bethesda, MD, February 17, 2005 — ProFunds today announced the launch of the Rising U.S. Dollar ProFund and Falling U.S. Dollar ProFund, a combination of mutual funds specifically designed for investors seeking to benefit from a strengthening or weakening U.S. dollar.

"Many investors are hearing about the weakening dollar but don't know how to try to take advantage of that trend or to attempt to benefit when the dollar recovers," said Michael L. Sapir, Chairman and CEO of ProFund Advisors LLC, investment advisor to ProFunds. "These new ProFunds make seeking specifically to take advantage of changes in the dollar's relative strength as simple as buying and selling mutual funds."

"We believe that these new ProFunds add important investment options to those otherwise available to investors," Mr. Sapir added. "Many may not be familiar with or comfortable with other methods of obtaining specific exposure to the relative strength of the dollar, such as entering the currency futures markets or buying actual foreign currencies. And, while mutual fund investors can try to take advantage of the dollar's movements through foreign stock or bond funds, those traditional funds are designed to be significantly affected by variables other than the movement of the dollar."

"Rising U.S. Dollar ProFund and Falling U.S. Dollar ProFund are both benchmarked to the U.S. Dollar Index® 1, so investors will know how they should perform as the dollar strengthens or weakens." Mr. Sapir said. "In addition to appreciation or depreciation from index changes, each fund may also provide income."

As with all ProFunds, investors in the Rising U.S. Dollar and Falling U.S. Dollar ProFunds will enjoy the flexibility to shift their investments as they see market conditions changing. There are no limits on the number of exchanges among the more than 40 ProFunds, but exchanges may have tax consequences.

About the Rising U.S. Dollar and Falling U.S. Dollar ProFunds

Both funds seek daily investment results, before fees and expenses, that correspond to the daily performance of the U.S. Dollar Index (USDX®).

ProFund Benchmark Index Daily Objective
Rising U.S. Dollar U.S. Dollar Index (USDX) Match (100%)
Falling U.S. Dollar U.S. Dollar Index (USDX) Inverse (-100%)

Of course, there is no guarantee the funds will reach their objectives.

About the U.S. Dollar Index

Like the Dow Jones Industrial Averageā„¢ provides a general indication of the value of the U.S. stock market, the U.S. Dollar Index provides a general indication of the international value of the U.S. dollar. The index value is calculated continuously and disseminated by the IntercontinentalExchange®. The USDX is calculated using a trade-weighted geometric average of six foreign currencies, weighted as follows:

Currency Weight
Euro 57.6%
Japanese Yen 13.6%
British Pound 11.9%
Canadian Dollar 9.1%
Swedish Krona 4.2%
Swiss Franc 3.6%

More information on the USDX is available from the IntercontinentalExchange website at: http://www.nybot.com/usdx/pdf/usdx.pdf.

About ProFund Advisors LLC

ProFund Advisors LLC, located in Bethesda, MD, is investment advisor to ProFunds, the nation's largest lineup of index-based mutual funds2, with more than 40 fund choices. ProFunds does not restrict investors' abilities to shift their investments from one ProFund to another as they see fit, although exchanges may have tax consequences.

Investing in ProFunds involves certain risks, including in all or some cases, exchange rate, foreign currency, foreign money market instrument, leverage, liquidity, concentration, non-diversification, high yield, interest rate, credit, market, correlation, aggressive investment technique and repurchase agreement risks. These risks can increase volatility and decrease performance. Please see the prospectuses for a more complete description of these risks. All ProFunds permit active investment strategies which can decrease performance and increase expenses.

1 "IntercontinentalExchange®", "The U.S. Dollar Index®" and "USDX®" are trademarks or service marks of the Board of Trade of the City of New York, Inc. and have been licensed for use by ProFunds.
2 Source: Lipper, October 14, 2004.

Media contact:

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