Circular Letter CVM/SIN 04/02

CIRCULAR LETTER/CVM/SIN/No. 004/02.
Rio de Janeiro, July 10, 2002.
Subject: Information to Unitholders

Dear Director,

We refer to CVM Instruction No. 365/02, which establishes criteria for the registration and accounting evaluation of securities and financial derivatives by financial investment funds, funds invested in shares of investment funds, and foreign investment funds.

In this regard, we determine that correspondence must be sent by 08/30/2002 to all unitholders of funds that underwent adjustments resulting from the application of the criteria established in the aforementioned Instruction, clarifying the amount of the adjustments, the effects on the fund's results, and the impact on the value of their shares.

We clarify that the correspondence must be sent at the expense of the fund administrator, with electronic delivery or together with the sending of the statement or other communication from the fund administrator being permitted.

Sincerely,

Original Signed By:
CARLOS EDUARDO P. SUSSEKIND
Superintendent of Institutional Investor Relations

To
All Directors responsible for financial investment funds, funds invested in shares of investment funds, and foreign investment funds.