27.11.2007

The fund performance was negative last week reflecting the continueduncertainty in the world markets that affected the Athens and Cyprus StockExchanges as well.

The drop in the market has created opportunities for investment and thus wedecreased the over 5% cash position we had in the last two weeks. We do notexpect however the increased volatility to subside any time soon.

Marios Demetriades, Manager, Laiki EDAK and Asset Management, Cyprus