PXS: Establishment of a new open-end investment fund


Parex Asset Management                                         22.01.2007

Establishment of a new open-end investment fund

The Financial and Capital Market Commission has registered a new open-end 
investment fund Parex Caspian Sea Equity fund, established by “Parex Asset Management” 
IPAS, on January 19, 2007. 
The objective of the open-end investment fund Parex Caspian Sea Equity fund is to 
achieve long-term capital growth by investing primarily the equities of issuers, who 
are registered or which business activity is situated in the region of the Caspian Sea. 
Revenues of the fund will be generated from an increase in shares price and dividend payout. 
In the near future investment certificates of this fund will be quoted on the Riga Stock Exchange.