In  accordance  with the amendments in the Law on Investment Management

Companies,  changes  in  the names of management company, custodian and

fund  advisor  amendments  have  been made in open-end investment funds

"Parex  Latu  Obligāciju  fonds" (Parex Lat Bond fund), "Parex Baltijas

Jūras  Sabalansētais  fonds"  (Parex  Baltic See Balanced fund), "Parex

Austrumeiropas  Sabalansētais  fonds"  (Parex Eastern European Balanced

fund)  and  "Parex  Austrumeiropas  Obligāciju  fonds"  (Parex  Eastern

European Bond fund) prospectuses and management by-laws which have been

registered by the Financial and Capital Market Commission on August 19,

2004.  The  amendments  also  change  the  maximum  funds' total annual

management  fees and expenses from 5.0% to 3.0% % of the fund's average

net  asset  value  and  provide  fund  managers with the opportunity to

enhance funds' return by investing in derivative financial instruments.

The latter is not concerned to the "Parex Latu Obligāciju fonds" (Parex

Lat  Bond  fund)  which  investment  policy allows to use in derivative

financial  instruments  only  for  hedging purposes. In addition to the

above  have  been  registered  an  abbreviated prospectus of the "Parex

Austrumeiropas  Sabalansētais  fonds"  (Parex Eastern European Balanced

fund). The amendments come into force on September 20, 2004.



The above mentioned open-end investment funds are established by the AS

Parex  ieguldījumu  pārvaldes  sabiedrība  (Parex Investment Management

Company  )  which  is  a  subsidiary  of  the AS Parex banka. The funds

advisor is the largest asset management company in the Baltics AS Parex

Asset  Management,  custodian is AS Parex banka, funds distributors are

AS  Parex Asset Management and AS Parex banka and auditor - SIA Ernst &

Young Baltic. 



AS  Parex ieguldījumu pārvaldes sabiedrība (Parex Investment Management

Company)

For further information call at 7010810