Regarding changes in the composition of the Council of Citadele Asset Management IPAS and the amendments made to the Prospectuses and the Rules of the managed investment funds

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| Source: Citadele Asset Management
multilang-release

Citadele Asset Management IPAS (hereinafter – the Company) announces the 26 June 2014 decision of the Council of AS Citadele banka on changes in the Council of the Company that have came into force.

As of 4 July 2014, the Council of the Company has been elected with the following composition: Juris Jākobsons, Chairman of the Council; Vladimirs Ivanovs, Deputy Chairman of the Council; and Aldis Paegle, Council Member. Juris Jākobsons and Vladimirs Ivanovs have previously worked in the Council, and Aldis Paegle has been elected for the first time.

Aldis Paegle has 12-year’s work experience in the financial sector, of which during the last 7 years he has worked at AS Parex banka and later at AS Citadele banka. As of 2010, he has headed up the Finance Division and the Finance and Resources Directorate of AS Citadele banka, and has chaired the Assets and Liabilities Management Committee. Currently, Aldis Paegle is a Member of the Board of AS Citadele banka. Aldis Paegle has tertiary education – he holds a professional bachelor’s degree in business administration from the Vidzeme University.

The Company announces that amendments to the Prospectuses and the Rules of the investment funds managed by the Company related to the changes in the composition of the Company’s Council were approved and came into force at the Board meeting held on 21 July 2014; certain editorial corrections were also made, e.g. references to Latvian Lats were deleted; the title “open investment fund” was replaced with “investment fund; information regarding the certified auditors of the funds and the Company’s licences was updated; etc.

The above mentioned amendments were made to the Prospectuses and the Rules of the following existing investment funds managed by the Company: “Citadele Baltic Sea Equity Fund”, “Citadele Eastern European Fixed Income Funds”, “Citadele Global Emerging Markets Bond Fund”, Citadele Russian Equity Fund”, and “Citadele Strategic Allocation Funds”