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OTC ProFund Launched

Seeks Returns Approximating NASDAQ-100 Index

Bethesda, MD — September 5, 2000 — ProFunds today launched the OTC ProFund. The new ProFund seeks daily investment results approximating the performance of the Nasdaq-100® Index.

"The new ProFund's goal is to track the performance of the Nasdaq-100 Index which contains many of the companies that are driving the new economy," said Michael L. Sapir, Chairman and CEO of ProFund Advisors LLC, investment advisor to the Bethesda-based mutual fund family. "Many people consider the Nasdaq-100 to be the equity index of the new millennium."

"This new ProFund complements our UltraOTC ProFund, which seeks daily investment results double the performance of the Nasdaq-100, and our UltraShort OTC ProFund that seeks daily results twice the inverse of the index," Sapir added.
The OTC ProFund rounds out the ProFunds family of broad index mutual funds, which includes the Bull and UltraBull, UltraMid-Cap, UltraSmall-Cap, UltraOTC, UltraEurope, UltraJapan, Bear, UltraBear and UltraShort OTC ProFunds. Additionally, ProFunds recently launched 17 UltraSector ProFunds benchmarked to the Dow Jones U.S. sector indexes.

ProFunds offers investors the widest choice of index-based mutual funds of any conventional fund company. 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 for a prospectus. Financial professionals should call 888-PRO-5717.

Certain 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.

These and other risks associated with the ProFunds are discussed in the ProFunds' prospectus. Investors should not invest in ProFunds without reading the prospectus carefully and understanding the risks associated with each ProFund. ProFunds are distributed by Concord Financial Group, Inc., 3435 Stelzer Road, Suite 1000, Columbus, Ohio 43219.

The Nasdaq-100 Index is a trademark of the Nasdaq Stock Market (NSM). "Dow Jones" and its sector indexes are trademarks of Dow Jones & Company, Inc. ProFunds are not sponsored, endorsed, sold or promoted by NSM or Dow Jones, and NSM and Dow Jones make no representation regarding the advisability of investing in such products. You cannot invest directly in an index.