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UltraSector ProFunds Hit $100 Million Milestone Passed Just Six Weeks After Launch

Bethesda, MD — August 9, 2000 — ProFunds today announced that its UltraSector ProFunds exceeded $100 million in assets under management just six weeks after their late June launch.

The UltraSector ProFunds each seek daily investment results of 150% of the performance of a corresponding Dow Jones sector index.

"Our UltraSector ProFunds have been a rapid success, with the heaviest investment being made in the Real Estate, Financial, Healthcare and Pharmaceutical sectors," said Michael L. Sapir, Chairman and CEO of ProFund Advisors LLC, investment advisor to the Bethesda-based ProFunds mutual fund family.

UltraSector ProFunds comprise the first indexed and first leveraged family of conventional sector mutual funds. The other UltraSector ProFunds are: Basic Materials, Biotechnology, Consumer Cyclical, Consumer Non-Cyclical, Energy, Industrial, Internet, Precious Metals, Semiconductor, Telecommunications, Technology, Utilities and Wireless Communications.

ProFunds offers innovative indexed-based funds that are designed to overcome limitations of conventional index mutual funds. ProFunds does not restrict investors' abilities to react to financial or economic changes and exchange their investments from one ProFund to another, and imposes no transaction, entry or exit fees.

Interested investors may call 1-888-PRO-FNDS or visit www.profunds.com to obtain a prospectus. Financial professionals should call 1-888-PRO-5717.

Because each of the UltraSector ProFunds invests in a single industry, an UltraSector ProFund's shares do not represent a complete investment program. As non-diversified and single industry funds, the value of its shares may fluctuate more than shares invested in a broader range of industries and companies. The UltraSector ProFunds routinely employ leveraged investment techniques that should magnify gains and losses and result in greater volatility in value. There is no guarantee that any ProFund will achieve its investment objective. Investment return and principal value will vary and shares may be worth more or less at redemption than at original purchase.

For more information, including management fees, expenses and other ongoing charges, call for a prospectus. Read it carefully before investing or sending money. ProFunds are distributed by Concord Financial Group, Inc.

"Dow Jones" and its sector indexes are trademarks of Dow Jones & Company, Inc. UltraSector ProFunds 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.