In its resolution of 7 November 2008 the Hungarian Financial Supervisory Authority (“the Authority”) has suspended for a period of 10 subscription/redemption days the subscription and redemption of the investment fund certificates of the open ended real estate funds as well as the investment fund certificates of the funds of the investment funds managed by the Hungarian investment fund managers. During the period of suspension the investment fund certificates of the above funds may not be subject to subscription and/or redemption.

The purpose of these measures is that during the period of the suspension – for the sake of protection of investments of investors – the relevant institutions inform the investment fund certificate holders on the nature, the prospected change in value and the risks of the investments in real estate investment funds and their funds. By the above the institutions assist reasonable investor decisions.

In accordance with the above the Authority has obligated the relevant institutions to modify their fund management rules during the suspension period, in order to protect the savings, and the reasonable interests of the investors based upon the principle of equal treatment of the investors.

Hungarian Financial Supervisory Authority

Further information for the press:

Binder István spokesman

T: +36 (1) 489-9235

E-mail: binder.istvan@pszaf.hu