ProShares Launches First and Only Short and Leveraged ETFs for the Russell 3000®

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PRESS RELEASE

Bethesda, MD, July 2, 2009—ProFunds Group, the world's largest manager of short and leveraged funds1, announced today that it is launching the first ETFs built to provide short and leveraged exposure to the Russell 3000® Index. ProShares Ultra Russell3000 (UWC) is built to produce 200% of the performance of the Russell 3000 Index for a single day, while ProShares UltraShort Russell3000 (TWQ) is built to produce 200% of the inverse performance of the Russell 3000 Index for a single day.

The Russell 3000 Index measures the stock performance of the largest 3000 U.S. companies, representing approximately 98% of the investable U.S. equity market. The new ETFs will be listed on NYSE Arca today.

"These ETFs provide investors, for the first time, with leveraged and short exposure to the Russell 3000," said Michael L. Sapir, ProFunds Group Chairman and CEO. "With the addition of these broad market funds, ProShares now has seventeen leveraged and short ETFs linked to Russell indexes."

ProShares
Ticker Symbol
 Index Objective*
New Russell 3000 ProShares

Ultra Russell3000

UWC

Russell 3000® Index

 200% Daily

UltraShort Russell3000

TWQ

Russell 3000® Index

-200% Daily
Existing Short Russell ProShares

Short Russell2000

RWM

Russell 2000® Index

-100% Daily

UltraShort Russell1000 Value

SJF

Russell 1000® Value Index

-200% Daily

UltraShort Russell1000 Growth

SFK

Russell 1000® Growth Index

-200% Daily

UltraShort Russell MidCap Value

SJL

Russell Midcap® Value Index

-200% Daily

UltraShort Russell MidCap Growth

SDK

Russell Midcap® Growth Index

-200% Daily

UltraShort Russell2000

TWM

Russell 2000® Index

-200% Daily

UltraShort Russell2000 Value

SJH

Russell 2000® Value Index

-200% Daily

UltraShort Russell2000 Growth

SKK

Russell 2000® Growth Index

-200% Daily
Existing Leveraged Russell ProShares

Ultra Russell1000 Value

UVG

Russell 1000® Value Index

 200% Daily

Ultra Russell1000 Growth

UKF

Russell 1000® Growth Index

 200% Daily

Ultra Russell MidCap Value

UVU

Russell Midcap® Value Index

 200% Daily

Ultra Russell MidCap Growth

UKW

Russell Midcap® Growth Index

 200% Daily

Ultra Russell2000

UWM

Russell 2000® Index

 200% Daily

Ultra Russell2000 Value

UVT

Russell 2000® Value Index

 200% Daily

Ultra Russell2000 Growth

UKK

Russell 2000® Growth Index

 200% Daily
*Before fees and expenses

About ProFunds Group

ProFunds Group includes 88 ProShares short and leveraged ETFs, and 115 ProFunds mutual funds. ProShares, which introduced the first short and leveraged ETFs in 2006, continues to be a leader in launching innovative new products—for two years in a row, ProShares has led the industry in attracting assets to newly launched ETFs2 and now is the fourth largest manager of ETFs in the nation3. Since 1997, ProFunds mutual funds have provided investors with 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. The group also manages the Canada-based Horizons BetaPro ETFs.

All ProShares ETFs and many ProFunds employ leveraged investment techniques that magnify gains and losses and result in greater volatility in value. Each ProShares ETF and leveraged or inverse ProFund seeks a return that is a multiple or inverse multiple (e.g., -200%) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, ProShares' and leveraged and inverse ProFunds’ returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the ProShares or ProFunds prospectus.

Media contact:

Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com

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Jul 2, 2009