November 12, 2008 Riga, Latvia

Following the support provided by the Latvian government to Parex banka andacquisition of 51% of Parex banka's shares by the Latvian State, we would liketo inform you that operations of Parex Asset Management will continue withoutany change. Similarly as in a number of European countries, these actions wereneeded in order to stabilise local financial markets.

Parex Asset Management will continue as a full subsidiary of Parex banka withall services and operations being carried out as before these actions. Our teamand product range remains intact. We hereby assure you, that theGovernment’s ac­quisition of 51% of Parex banka’s shares will have noeffect on WIOF funds’ assets that are managed and allocated by Parex AssetManagement. Furthermore, Parex Asset Management is responsible for WIOF funds’allocation only and the funds’ assets are Luxembourg based.

Roberts Idelsons, President of Parex Asset Management