ProShares SKF, SEF to Resume Creating Shares

  
    
  
  
    
      ProShares announced today that tomorrow, October 9, 2008, it will resume 
      its normal process of creating new shares of its ProShares UltraShort 
      Financials (SKF) and ProShares Short Financials (SEF) exchange traded 
      funds. ProShares suspended creating new shares in these two ETFs in 
      response to a September 18 SEC order banning short sales of certain 
      financial stocks. The SEC order was extended on October 2 and is set to 
      expire tonight. During the suspension of creations, average daily 
      trading volume of SKF and SEF exceeded 19 million shares.
    
    
      About ProShares
    
    
      ProShares is the nation's fifth-largest provider of ETFs1, 
      offering 64 ETFs that provide investors with short and leveraged 
      exposure to a wide variety of stock and bond indexes. ProShares is part 
      of ProFunds Group, which also includes more than 115 ProFunds mutual 
      funds. Since 1997, ProFunds has provided mutual fund investors with 
      easier access to sophisticated investment strategies, with offerings 
      that include funds that seek to magnify daily index performance and 
      funds that seek to increase in value when markets decline.
    
    
      All investing involves risk, including the possible loss of principal. 
      Short ProShares should lose value when their market indexes rise, and 
      they entail certain risks, including, in some or all cases, aggressive 
      investment techniques, inverse correlation and market price variance 
      risks, all of which can increase volatility and decrease performance. 
      ProShares are not diversified investments. Narrowly focused investments, 
      including sector ETFs, typically exhibit higher volatility. ProShares 
      are designed to meet daily objectives; results over longer periods may 
      differ. There is no guarantee that any ProShares ETF will achieve its 
      investment objective.
    
    
      Carefully consider the investment objectives, risks, 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 your financial adviser 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.
    
    
      ProFunds Group includes ProFunds mutual funds and ProShares ETFs. 
      ProFunds Distributors, Inc. is distributor for ProFunds mutual funds. 
      ProShares ETFs are distributed by SEI Investments Distribution Co., 
      which is not affiliated with ProFunds Group or its affiliates.
    
    
      2008-4109
    
    
      1 Source: Bloomberg, based on assets as of 
      8/31/2008.