Parex Investment Management Company                           17.01.2005.



Financial and Capital Market Commission Approves Amendments to Parex  

Investment Funds Prospectuses



Amendments to the following Parex investment funds prospectuses are approved 

by the Financial and Capital Market Commission (FCMC): Parex Lats Bond Fund, 

Parex Baltic Sea Balanced Fund, Parex Eastern European Bond Fund, Parex Eastern 

European Balanced Fund, Parex Russian Equity Fund.



Amendments to the prospectuses were necessary due to a change in the legal 

address of the funds auditor. The new legal address of Ernst and Young Baltic, 

Ltd., auditor of all funds mentioned will be Kronvalda bulvāris 3, Rīga, LV-1010, 

Latvia. All changes in the prospectuses were registered with the FCMC on 

December 22, 2004.



In addition, changes in the investment committees of Parex Lats Bond Fund, Parex 

Baltic Sea Balanced Fund, Parex Eastern European Balanced Fund, and Parex Eastern 

European Bond Fund were made, releasing Aija Klaseva from the committees and 

appointing Edgars Makarovs as a new member of the investment committee of all 

funds mentioned.



Amendments to the prospectus and management by-laws of the Close-ended Parex Baltic 

Real Estate Fund were made. Changes were made due to changes in the names of 

several legislative acts and to legal entities mentioned and governed by the by-laws.  

Other changes in the prospectus were connected with changes in the investment 

committee of the fund, releasing Aija Klaseva and appointing Janis Vizbulis as a 

new member of the investment committee of the fund. The Investment policy and 

investment limits of the fund were also changed. According to the new prospectus, 

not less than 50% of the assets of the Close-ended Parex Baltic Real Estate Fund 

should be invested into real estate. In addition, the manager of the fund is allowed 

to take loans in the amount of up to 80% of the fund assets at the expense of the 

fund with no limits on the term of the loans. 



All investment funds mentioned above are established by Parex Investment Management 

Company, which is a subsidiary of Parex bank. The funds advisor is Parex Asset 

Management, the largest asset management company in the Baltics. The custodian is 

Parex banka, and funds are distributed via Parex Asset Management and Parex banka, 

the  auditor of all funds is Ernst & Young Baltic, Ltd.



Parex Investment Management Company

For further information, please, call +371 7010810