Thats The Old Effect Of Ultimate Offering
"At the cost of 500 Life Points per monster, a player is allowed an extra Normal Summon or Set."
The new errata will be
"You can pay 500 Life Points to Normal Summon or Set 1 extra monster. You can only activate this effect during your Main Phase or your opponent's Battle Phase."
No matter what card text your card brings, u will have to follow the new rules, which is better for u, DUN GRUMBLE.LOL