ERSTE-SPARINVEST KAG

Fact sheet

ESPA BOND LOCAL EMERGINGEmerging Markets bonds in local currencies

Status at 07/30/2010

Investment features
ESPA BOND LOCAL EMERGING invests primarily in government bonds from emerging markets in local currency. Geographically, the focus is on countries in Central and Eastern Europe, Asia, Latin America, Middle East, and Africa. Furthermore, the fund may invest in bonds issued by corporates from these countries. The majority of the bonds have a rating ranging between "A" and "B". Currency risks are not hedged.

This is an advertisement. Unless otherwise noted, data source ERSTE-SPARINVEST KAG. Our languages of communication are German and English. The latest version of the Prospectus (and any changes thereto) has been published in the “Amtsblatt zur Wiener Zeitung”, in accordance with the provisions of the Austrian Investmentfondsgesetz [Investment Funds Act]. Copies are available free of charge to interested parties at the registered offices of both ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. and Erste Group Bank AG (the custody bank). The most recent publication date and details of any other collection offices are published on the ERSTE-SPARINVEST KAG website (www.sparinvest.com). This document serves to provide additional information to our investors and reflects the knowledge of its authors at the time of going to press. Our analyses and conclusions are of a general nature and do not take into account the personal needs of our investors in terms of income, fiscal situation or attitude to risk. It should be noted that past performance is not a reliable indicator of the future performance of a fund.

Fund key data

Dividend	01.10.
Base currency	EUR
Fund volume	48,099,912.40
Fund accounting year	01.07. to 30.06.
Day of first issue	10/17/2008
Sales authorisation	AT
Management fee	0.96 % p.a.
Recommended holding period	III
Investor experience	C - D
Investor risk tolerance	6
Contact	ansprechpartner@sparinvest.com

Share certificates

Type	ISIN	Currency	Net asset value	Initial charge
A.	AT0000A0AUE0	EUR	131.62	3.50%
T.	AT0000A0AUF7	EUR	136.01	3.50%
T.C.	AT0000A0AUH3	EUR	136.01	3.50%
VT.	AT0000A0AUG5	EUR	136.01	3.50%

Performance according to OeKB (Oesterreichische Kontrollbank AG) (in %, p.a.) (Reporting date: 07/30/2010)

Currency	1 Year	3 Years	5 Years	10 Years	Beginning of the year ^*	Inception
EUR	22.26				17.97	19.54

^* absolute

Annual performance (in %, in fund base currency)

Year				2008	2009
Performance				-0.12	16.67

Benefits for investorBroad diversification of risks through a selection of bonds of differents Emerging Markets
Performance potential on a long-run perspective
High annual disbursements

Please noteHigher Risk by addition of issuers with medium to lower creditworthyness
Higher foreign currency risk
Risk of medium to high volatility of the fund price
Recommended length of holding at least 3-5 years

Top positions

Security	Share of fund assets
POLEN 07-13	3.73%
TURKEY 09/14	3.57%
BRAZIL 2017 F	3.33%
BRAZIL 2014	3.00%
POLEN 08-19	2.93%

Fund ratios*

Average securities return	6.58%
Average time to maturity	5.89 Years
Duration	4.38 Years
Mod. Duration	4.19%

* Explanation of financial terms

Performance

Performance (incl. distribution of dividends) between 10/17/2008 and 07/30/2010

Asset-Countries

Securitytypes