29 AUGUST 2001

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La Valette Mediterranean Rim fund now open for the public

Valletta Fund Management's first distribution fund, the new La Valette Mediterranean Rim Fund is now open for the public.

Besides investing in a selection of government and corporate bonds, the Fund will also invest in shares of companies situated in the Mediterranean Rim mainly, Turkey, Egypt, Tunisia Morocco and Malta.

Speaking about the new product, Mr Charles Borg, General Manager Valletta Fund Management Limited, said that "this Fund will be investing in a balanced combination of bonds and equities. An interesting feature of this new Fund is that the income resulting from interest derived from the underlying bond investments and the dividends from the equity exposures will be distributed once a year and the investor may choose to either cash it or reinvest it in the Fund."

Mr Kenneth Farrugia, Assistant General Manager, Valletta Fund Management said that, "the La Valette Mediterranean Rim Fund is a new investment opportunity tailored for those investors seeking to broaden their portfolios to a region which offers significant growth potential over the longer term." Mr Farrugia added that, " the privatization programmes and liberalisation of the economies in this region are presenting the corporate sector with new opportunities and through this Fund we want investors to be able to have exposure to these changes.

By investing in this Fund, investors have the opportunity to increase their potential returns as these changes ensue.

The La Valette Mediterranean Rim Fund will be advised by Rothschild Asset Management who appointed other sub-advisors in Tunisia, Egypt and Malta. Investors wishing to participate in this Fund may do so from a minimum lump sum of US$5,000.

For a limited period, Valletta Fund Management is discounting the upfront charges, from 3.5% to 1.5% to new investors and down to 1.25% to existing shareholders in other funds managed by Valletta Fund Management registered as at 20th August 2001. The launch offer closes on the 14th September 2001.

Further details can be obtained from Valletta Fund Management on freephone 0800772344, any branch of Bank of Valletta in Malta or Gozo or any authorised financial intermediary.

The La Valette Mediterranean Rim Fund is licensed by the Malta Financial Services Centre.The value of the investment and the currency in which they are denominated may fall as well as rise.

Maltese residents are subject to Exchange Control Regulations. Investments should be made on the full details contained in the Prospectus.

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt