Four Leveraged Sector ProFunds Change Benchmarks

ProFunds, a premier provider of alternative mutual funds, announced
today that four of its public mutual funds will change benchmarks,
effective after the market closes on or about August 28, 2018.

Telecommunications, Pharmaceuticals and Oil Equipment, Services &
Distribution ProFunds will change from tracking Dow Jones U.S. Sector
indexes to Dow Jones U.S. Select Sector indexes.

The Mobile Telecommunications ProFund will change from tracking the Dow
Jones U.S. Mobile Telecommunications Index to the new S&P Communication
Services Select Sector Index. To more accurately reflect its holdings,
the fund’s name will change to Communications Services UltraSector

Index Change Details

About ProFunds

ProFunds is a premier provider of alternative mutual funds, offering
more than 100 funds. ProFund Advisors was founded in 1997, and together
with its affiliates, ProShare Advisors and ProShare Capital Management,
has over $30 billion in assets under management, as of December 31, 2017.

Many ProFunds routinely employ leveraged investment techniques that
magnify gains and losses, and result in greater volatility in value.
Each geared (leveraged or inverse) ProFund seeks a return that is a
multiple (e.g., 1.5x, -1x) of the return of an index or other benchmark
(target) for a single day. Due to the compounding of
daily returns, geared ProFunds’ returns over periods other than one day
will likely differ in amount and possibly direction from the target
return for the same period. These effects may be more pronounced in
funds with larger or inverse multiples and in funds with volatile
benchmarks. Investors should monitor their ProFunds holdings consistent
with their strategies, as frequently as daily. For more on risks, please
read the prospectus.

ProFunds are not suitable for all investors because of the sophisticated
techniques the funds employ. Investing involves risk, including the
possible loss of principal. ProFunds entail certain risks, including
risk associated with the use of derivatives (swap agreements, futures
contracts and similar instruments), imperfect benchmark correlation,
leverage and market price variance, all of which can increase volatility
and decrease performance. For more on correlation, leverage and other
risks, please read the prospectus.
There is no guarantee any ProFund will achieve its investment objective.

All ProFunds are subject to active investor risk. There are no
restrictions on the size and frequency of trades and no transaction
fees. The frequent exchanges our policies permit can decrease
performance, increase expenses and cause investors to incur tax
consequences. Other brokerage or service fees may apply.

Carefully consider the investment objectives, risks, charges and
expenses of ProFunds before investing. This and other information can be
found in their summary and full prospectuses.
Read them carefully before investing.

ProFunds are distributed by ProFunds Distributors, Inc.

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