ProShares ETFs Daily Trading Volume Exceeds 1 Million Shares; Reaches mark in two-and-a-half weeks

ProShares today announced that its recently launched
exchange traded funds (ETFs) exceeded 1 million shares in daily
trading volume for each of the last two days--just 13 trading days
after their June 21 launch. The eight ProShares ETFs trade on the
American Stock Exchange(R) (Amex(R)).
   Four Short ProShares are the first ETFs designed to provide short
exposure to well-known market indexes, seeking daily investment
results that correspond to the inverse of those indexes, before fees
and expenses. Four Ultra ProShares are the first ETFs designed to
magnify daily index performance. They seek daily investment results
that correspond to twice the performance of their underlying indexes,
before fees and expenses.
   "We're very pleased that ProShares are generating such a high
level of interest," said Michael Sapir, CEO of ProShare Advisors,
Inc., part of ProFunds Group. "Clearly, their built-in short and
magnified exposure to well-known indexes is appealing. ETF investors
who want to implement sophisticated strategies--but don't want to have
to set up a margin account--have quickly discovered the benefits of
ProShares."
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       Names of ProShares, their objectives and ticker symbols:

Short ProShares             Daily Objective              Ticker Symbol
----------------------------------------------------------------------
Short QQQ(R) ProShares      Inverse of the NASDAQ-100            PSQ
                             Index(R)
Short S&P500(R) ProShares   Inverse of the S&P 500(R)            SH
                             Index
Short MidCap400 ProShares   Inverse of the S&P MidCap 400        MYY
                             Index
Short Dow30(SM) ProShares   Inverse of the Dow Jones             DOG
                             Industrial Average(SM)

Ultra ProShares             Daily Objective              Ticker Symbol
----------------------------------------------------------------------
Ultra QQQ(R) ProShares      Double the NASDAQ-100 Index          QLD
Ultra S&P500(R) ProShares   Double the S&P 500 Index             SSO
Ultra MidCap400 ProShares   Double the S&P MidCap 400            MVV
                             Index
Ultra Dow30(SM) ProShares   Double the Dow Jones                 DDM
                             Industrial Average
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   About ProFunds Group

   The ProShares are managed by a team headed by Chief Investment
Officer Gus Fleites, an ETF industry veteran who also leads the firm's
overall ETF initiatives. In addition to ProShares ETFs, ProFunds Group
manages ProFunds mutual funds, the nation's largest lineup of indexed
mutual funds.(1) Since 1997, ProFunds has provided mutual fund
investors access to innovative mutual fund strategies, including funds
that seek to magnify daily index performance and funds that seek to
increase in value when markets decline. The ProFunds Group describes
the portfolio managers common to ProFund Advisors LLC, advisor to
ProFunds mutual funds and ProShares Advisors LLC, advisor to ProShares
ETFs.
   Carefully consider the investment objectives, risks, and charges
and expenses of ProShares and ProFunds before investing. This and
other information can be found in their prospectuses. Read the
prospectus(es) carefully before investing. For a ProShares ETF
prospectus, visit www.proshares.com and seek advice from you financial
advisor or broker dealer representative. Financial professionals can
also call 866-PRO-5125. For a ProFunds mutual funds prospectus, call
888-PRO-FNDS (individual investors) or 888-PRO-5717 (financial
professionals) or visit www.profunds.com. Read the prospectus(es)
carefully before investing.
   ProShares ETFs are distributed by SEI Investments Distribution Co.
(SEI), which is not affiliated with any Profunds Group affiliate.
ProFunds mutual funds are distributed by ProFunds Distributors, Inc.
(PDI). SEI and PDI are not affiliated.
   Investing involves risk, including the possible loss of principal.
Please note that in addition to the normal risks associated with
investing, ProShares and ProFunds entail certain risks, including, in
all or some cases, aggressive investment technique, inverse and
imperfect correlation, leverage, market price variance and short sale
risks. These risks may pose risks different from, or greater than,
those associated with a direct investment in the securities underlying
the funds' benchmarks, can increase volatility, and may dramatically
decrease performance. Please see the prospectus for a more complete
description of these risks. Investing in ProShares involves different
fees and risks than maintaining a margin account.
   "QQQ(R)" and "NASDAQ-100(R)" are trademarks of The Nasdaq Stock
Market, Inc. "S&P 500(R)" Index and S&P MidCap 400 Index are
trademarks of The McGraw-Hill Companies, Inc. "The Dow 30(SM)" is a
service mark of Dow Jones & Company, Inc. All have been licensed for
use by ProShares. ProShares have not been passed on by these entities
or their affiliates as to their legality or suitability. ProShares are
not sponsored, endorsed, sold or promoted by these entities or their
affiliates, and they make no representation regarding the advisability
of investing in these products. These entities and their affiliates
make no warranties and bear no liability with respect to the
ProShares.

   (1) Source: Lipper, October 12, 2005. Lipper defines "indexed
        fund" as an open-end mutual fund (not an ETF) that falls into
        one of the following subcategories: pure index, enhanced index
        or index-based. The majority of ProFunds are categorized by
        Lipper as enhanced index funds.