Rigas  Stock  Exchange  (RSE)  Management  Board resolved on listing of

closed-end   fund   "Baltijas  nekustamā  īpašuma  fonds"  on  the  RSE

Investment Fund list starting with

July  21,  2003. Nominal value of one unit is USD 10; total issue value

is USD 5 million.



The  purpose  of  the  Fund  is  to  add  value to investor's assets by

investing,  prevailingly,  in  real  estate  registered  in  the Baltic

countries.



Investment  company  "Parex  Investment Company" is "Baltijas nekustamā

īpašuma  fonds"  asset  management  company;  JSC  "Parex  Bank" is the

custodian bank, and market maker is JSC "Parex Asset Management"

Guntars  Kokorevics,  President, Riga Stock Exchange : "Listing of fund

units  on  the  RSE is expected to enhance the investors' confidence in

funds,  since  the  buy and sell prices as any other information on the

funds  and  their  financial status is made available publicly. It will

allow  the  funds  to  attract  the  institutional  investors  that are

permitted to invest in listed securities only."



This  is  already  the third fund listed on the RSE: the first, "Baltic

Index  fonds",  was listed on April 17, 2001; "Valsts obligaciju fonds"

was listed on January 7, 2002.



Krista Grīntāle

Corporate Communications Department Director

Riga Stock Exchange

Phone. + 371 7212431

e-mail: krista.grintale@rfb.lv