Riga  Stock  Exchange  Management Board on its meeting of September 14,

2004  resolved to list open-end investment fund "Parex Krievijas Akciju

fonds"  units  on the Official Investment Fund list  from September 20,

2004 (ticker: PKAFR. 



Investment    management   company   "Parekss   ieguldījumu   pārvaldes

sabiedrība"  is  the fund manager, and "Parekss-banka" is the custodian

bank.



"Parex Krievijas Akciju fonds" fund units are USD-denominated. The fund

assets  are  invested  mainly in Russian company shares. The assets may

also be invested in securities issued or guaranteed by central or local

governments  and  credit institutions of Russia, the Baltic states, EU,

EEA  or  OECD member states; in debt securities issued by corporations;

in deposits with licensed credit institutions of the Baltic states, EU,

EEA or OECD member states; as well as in investment funds.



As  of  today,  there  are  already  ten funds listed on the Riga Stock

Exchange.  Four  of  the  funds  may  be traded as well: "Latu rezerves

fonds",  "Baltic  Index  fonds"  "Nekustamā  īpašuma fonds" and "Valsts

obligāciju fonds".



Open-end  fund  "Parex  Krievijas Akciju fonds" was registered with the

Financial and Capital Market Commission on March 5, 2004.



For more information, please contact:

Krista Grīntāle

Head of Corporate Communication         Phone: +371 7212431

Riga Stock Exchange