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

BETHESDA, Md. -- 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."

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

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.