Baltic Fund 1, L.P. (Baltic Fund), a closed end fund, is one of the largest equity funds mandated to invest exclusively in the three Baltic states of Estonia, Latvia, and Lithuania. It is a Delaware, U.S.A.-registered limited partnership with a current net asset value of approximately $33 milion USD. Baltic Fund is listed on the Dublin (Ireland) Stock Exchange.

Baltic Management L.L.C., the premier asset management company in the Baltics, manages the assets of Baltic Fund 1, L.P. and other investors. With headquarters in New York, the company also has offices in Tallin (Estonia), Riga (Latvia), Vilnius (Lithuania), and London. The manager of Baltic Management L.L.C. has been actively involved in investment projects in the three Baltic States since late 1991.

Baltic Management L.L.C. rigorously monitors companies chosen for investment and exercises control over company management through carefully negotiated investment agreements that may include board membership. The management company's senior executives each reside in the Baltics for at least six months per year.

Investing in emerging market countries such as the Baltic States involves special risks.

The information contained harein is neither an offer to sell nor a solicitation of an offer to buy any securities.

Hamid Ladjevardi
Baltic Fund 1, L.P.
Baltic Management L.L.C.
123 Main Plains, NY 10601
USA
Telephone: 1 (914) 686-0666
Fax: 1 (914) 686-1666
email: balticmanagement@worldnet.att.net

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