Circular Letter CVM/SIN 03/04

CIRCULAR LETTER/CVM/SIN/No. 003/2004.
Rio de Janeiro, October 26, 2004.
Subject: Monthly Profile and Statement of Information on the Fund

Dear Sir,

Considering the issuance of CVM Instruction No. 409, of August 18, 2004, which unified the regulation of investment funds, previously governed by CVM Instruction No. 302/99 and BACEN Circulars No. 2,616/95 and 2,714/96, it was necessary to adapt the "Monthly Profile" and "Statement of Information on the Fund" statements so that they met the new requirements imposed by the regulation and the differentiated characteristics of the new fund classes.

2. Therefore, we inform you that the new models of the aforementioned documents are available on the CVM website on the worldwide computer network, at the address http://www.cvm.gov.br (select the option "Submission of Documents by Participants" and then "File Standards - XML and Others"). These will be mandatory for all investment funds, as detailed below:

• Statement of Information on the Fund – effective November 22, 2004, upon the establishment of a new fund, communication of regulatory amendments, and whenever modifications to the regulations or prospectuses produce changes in the answers provided. It is an occasional document that should only be submitted in the aforementioned cases;
• Monthly Fund Profile – effective December 31, 2004, monthly and within 10 calendar days after the end of the month to which they refer.

3. Investment funds that currently already submit these documents are temporarily exempt from their submission, and must resume the submission routine starting from the dates stated in item 2 and in accordance with the new standard.

4. From the aforementioned dates, the statements must be forwarded as usual through the CVM information receipt system on the worldwide computer network, and the XML file standard for the Monthly Profile, for those who opt for submission in this format, will be shortly available on the CVM website.

Sincerely,

Signed original
LUÍS FELIPE MARQUES LOBIANCO
Superintendent of Institutional Investor Relations Acting