Parex Banka                                                     23.08.2005



Parex Baltic Sea Equity Fund is launched into public offering in Latvia



On August 22, 2005, open-end investment fund Parex Baltic Sea Equity Fund 

managed by Parex investicijų valdymas (Lithuania) is launched into public 

circulation in Latvia.



The Fund seeks a high level of capital growth by investing in a selected 

list of companies operating in the Baltic Sea countries – Latvia, Estonia, 

Lithuania, Denmark, Finland, Island, Norway, Sweden, Germany, Poland and 

Russia. The Fund’s investment portfolio is diversified among investments 

in different countries, currencies and industries to ensure greater 

diversification and reduction of risks associated with investments in 

securities of a single asset class, currency, or country. 



Fund year-to-date performance as of August 18, 2005 is 19.88%, while since 

inception on July 8, 2004 the Fund has returned 28.09%. Fund assets as of 

August 18, 2005 stood at LTL 15.7 mln  (EUR 4.6 mln).



The Fund investment manager is asset management company Parex investiciju 

valdymas (Lithuania), the distributor of Fund’s units in Latvia is Parex 

Banka. Minimum investment amount in the Fund is 1,000 LTL.



Opening of Parex Baltic Sea Equity Fund for public subscription in Latvia 

expands range of Parex investment management products in Latvia. Aside of 

Baltic Sea Equity Fund, Parex offers another 5 open-end investment funds - 

two bond funds, two balanced funds and an equity fund. 



Parex Banka is largest bank in Latvia in terms of assets, capital and 

reserves.