PXS: Parex Baltic Real Estate fund – II investment certificates’ second emission

Parex Asset Management                                       02.01.2007

Parex Baltic Real Estate fund – II investment certificates’ second emission

“Parex Asset Management” IPAS informs that the second emission of investment 
certificates of the closed-end investment fund Parex Baltic Real Estate fund - II 
starts on January 02, 2007. The main conditions of the second emission are:
-The Volume of the second emission is EUR 75’000’000;
-The period of initial placement of the Fund’s investment certificates shall be 
90 days or up to the day when all investment certificates offered in the initial 
placement are sold, but not to exceed 90 days;
-The price of a second emission investment certificate is EUR 1025.