Oryx (2004) Fund to allow greater flexibility to unitholders

The fund, which was launched in Oct 2004, is managed by BankMuscat's Asset Management division and seeks to provide long-term capital appreciation opportunities to investors through maintaining a diversified portfolio, in Oman, other countries in the GCC and Iraq.

Notable amongst the changes announced by the fund are:

• Introduction of a daily window for subscriptions and redemptions (on any working day in Oman), instead of the earlier monthly window
• Valuation of the net asset value (NAV) at bid price, from the last closing price
• Redemption fee reduced to nil after 6 months and 3% if redemption takes place within a lesser period
• Redemption at any time will be at NAV less applicable redemption fees (if any) less normal dealing charges of 0.4%.

The daily window will allow investors to effectively leverage positive market developments as they occur and also eliminates the need for the fund to be listed on the Muscat Securities Market. The Investors' Committee of the fund has therefore decided to de-list the units with effect from 7 February 2006.

These new features are effective 12 February 2006.

Aberdeen Asset Management (Asia) Limited (AAML), investment advisors to the Oryx (2004) Fund, are one of the leading investment managers for emerging markets in the world with US 14.4 billion of assets under management.