PROFUNDS
Supplement Dated January 10, 2000 to Prospectus Dated May 1, 1999
Current shareholders may use their personal computer to transact
on-line exchanges of shares of the ProFunds, except exchanges of shares of the
UltraEurope and the UltraShort Europe ProFunds, at ProFunds' website
(www.profunds.com). To access this service through the website, click on the
"Trade/Access Account" icon and you will be prompted to enter your Social
Security Number. Follow the instructions to establish your Personal
Identification Number (PIN) which will allow you to execute exchanges between
ProFunds and access ProFunds account information.
Internet exchange orders between the ProFunds can be accepted between
8:00 a.m. and 3:55 p.m. and between 4:30 p.m. and 9:00 p.m., Eastern time. If
the primary exchange or market on which a ProFund transacts business closes
early, the above cut-off time will be 25 minutes prior to the close of such
exchange or market.
Internet exchange transactions are extremely convenient, but are not
risk free. To ensure that all Internet transactions are safe, secure and as
risk-free as possible, ProFunds has instituted certain safeguards and procedures
for determining the identity of web site users. As a result, neither ProFunds
nor its transfer agent will be responsible for any loss, liability, cost or
expense for following Internet instructions they reasonably believe to be
genuine. If you or your intermediary make exchange requests by Internet, you
will generally bear the risk of loss.
The ProFunds' Prospectus is readily available for viewing on the
website.
The Funds may terminate the ability to exchange ProFund shares on its
website at any time, in which case you may continue to exchange shares pursuant
to the Prospectus.
