Circular Letter CVM/SIN 04/04

CIRCULAR LETTER/CVM/SIN/No. 004/2004.
Rio de Janeiro, December 09, 2004.
Subject: Monthly Profile of Investment Funds

Dear Sir,

Considering the issuance of CVM Instruction No. 411, of November 26, 2004, which extended until January 31, 2005, the deadline for adaptation to CVM Instruction No. 409, of August 18, 2004, of investment funds previously governed by CVM Instruction No. 302/99 and BACEN Circulars No. 2,616/95 and 2,714/96,

we inform you that the document - Monthly Fund Profile - which will be mandatory for all investment funds, must be submitted starting from January 31, 2005, monthly and within a period of 10 calendar days after the end of the month to which it refers.

2. Investment funds that currently already send this document remain temporarily exempt from its submission, and must resume the submission routine from the date stated above and in accordance with the new standard of the document, already available on the CVM website, at the address http://www.cvm.gov.br (select the option "Submission of Documents by Participants" and then "File Standards - XML and Others").

3. Operating funds already adapted to CVM Instruction No. 409/04 and new investment funds established from November 22, 2004, are also exempt from submitting the Monthly Profile until January 31, 2005.

4. Finally, regarding the document "Extract of Information about the Fund", this remains mandatory whenever a new fund is created, regulations or prospectuses are altered, or when there are eventual corrections to the responses presented.

Sincerely,

Signed original by
LUÍS FELIPE MARQUES LOBIANCO
Superintendent of Institutional Investor Relations In exercise