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ProFunds Added to Schwab OneSource

BETHESDA, Md.--June 6, 2001--ProFunds, a leading index-based mutual fund company, announced that Charles Schwab & Co. Inc. has added five broad-market ProFunds to its mutual fund OneSource(R) program, through its Mutual Fund Marketplace(R).

Schwab, one of the nation's largest brokerage firms, will make available Investor Class shares of five ProFunds on a no transaction fee basis, including UltraBull ProFund, UltraOTC ProFund, Bear ProFund, UltraBear ProFund and UltraShort OTC ProFund. A sixth ProFund, the OTC ProFund, will be available soon. An additional nine ProFunds remain available to investors on a transaction fee basis through Mutual Fund Marketplace.(R)

ProFunds Chairman, Michael Sapir, said, "We are pleased to significantly expand our relationship with this brokerage powerhouse. This expansion helps further our commitment to make ProFunds' innovative funds available to the greatest number of investors."

Maryland-based ProFunds offers investors the widest choice of index-based mutual funds of any fund family. The 33 publicly available ProFunds include conventional, leveraged, bear and sector index-based funds. ProFunds does not restrict investors' abilities to react to financial or economic changes by exchanging their investments from one ProFund to another.

ProFunds also offers 36 index-based insurance product mutual funds.

Schwab's short-term redemption fee will be charged on redemptions of funds bought through Schwab's MFOS(R) service with no transaction fee held for 180 days or less. Schwab receives remuneration from fund companies for record keeping, shareholder services and other administrative services for shares purchased through the Mutual Fund OneSource service.

For more complete information on ProFunds, including charges, expenses and ongoing fees, please call ProFunds at 888/776-3637 for a prospectus. Read it carefully before investing or sending money. ProFunds are distributed by Concord Financial Group, 3435 Stelzer Road, Columbus, OH 43219.