Parex Asset Management registers Parex Caspian Sea Equity fund in Switzerland


Parex Asset Management (PAM), the investment management arm of Parex banka has  
registered Parex Caspian Sea Equity fund for distribution in Switzerland.       

On October 15, 2007 the Swiss Financial Supervisory Authority has registered the
Parex Caspian Sea Equity fund for public distribution in Switzerland.           
Mr. Robert Idelson, the President of Parex Asset Management, said: “The interest
of international investors to the equities of companies based in Asia is        
steadily increasing. Parex Caspian Sea Equity fund is one of the first          
investment products, that offers access to the equities of companies rapidly    
developing in this region. We hope that the long term experience of Parex Asset 
Management in the Caspian Sea region will be highly valued by investors in      
Switzerland.”                                                                   
Parex Caspian Sea Equity fund was registered on February 14, 2007. Since        
inception, the assets of the Fund have increased up to EUR 17.6 mln. The        
objective of the fund is to achieve long-term capital growth by investing in a  
diversified portfolio of equity securities located in or exposed to growth in   
the rapidly growing Caspian Sea region. The investment certificates of Parex    
Caspian Sea Equity fund are listed on the Riga Stock Exchange.                  
About Parex Asset Management:                                                   
With over USD 1 billion of assets under management, Parex Asset Management, the 
subsidiary of Parex banka, is the largest investment company in the Baltic      
Region and one of the most experienced in the Central and Eastern Europe. PAM   
invests internationally, maintaining a complete investment product range, when  
constantly tracking the best investment opportunities in each geographic region.
Through its subsidiaries and representation offices Parex Asset Management also 
operates in Lithuania, Russia, Ukraine and Kazakhstan.                          
About Parex banka:                                                              
With EUR 4.3 billion in assets, Parex banka is one of the leading banks in the  
Baltic States, offering integrated client services, including lending, payment  
card services, leasing, asset management and securities brokerage. The Bank is  
represented in 15 countries through its wide network of representative offices, 
branches and subsidiaries, including a subsidiary in Switzerland, AP Anlage und 
Privatbank AG.                                                                  
Parex banka is rated Baa3 by Moody's Investors Service, BB+ by Fitch Ratings and
BBB by Capital Intelligence.                                                    


For further information please contact:                                         
Julia Kondratovich                                                              
International Communications Department                                         
E-mail: jk@parex.lv                                                             
Ph.: + 371 6777 8572