Circular Letter CVM/SIN No. 05/2002

CIRCULAR LETTER CVM/SIN No. 005/2002.
Rio de Janeiro, November 26, 2002.
Subject: New mandatory information regarding investment funds

Dear Sir,

The Superintendence of Institutional Investor Relations of the CVM, based on Article 108 of CVM Instruction No. 302 of May 5, 1999, communicates to the administrators of securities and financial asset investment funds (FITVM) and funds of FITVM shares (FICFITVM) the creation of two new types of information regarding the aforementioned funds, namely:

1. Document Name: FUND INFORMATION SUMMARY
   Mandatory submission start date to CVM: 12/02/2002 Frequency: Occasional, upon the commencement of the fund's operations and whenever there are changes to the regulation or prospectus Document reference date: Date of the last assembly that promoted changes to the regulation or the date of the fund's constitution, if the regulation has not been altered. Deadline for submission to CVM: Fifteen calendar days after the alteration of the regulation or prospectus. Funds currently in operation must submit this document by 12/31/2002. Method of submission to CVM: By filling out a form in the CVMweb system Summary of information required in the document: General information on investment policy, target audience, and fees set forth in the fund's regulation and prospectus

2. Document Name: MONTHLY PROFILE REPORT
   Mandatory submission start date to CVM: 01/15/2003 Frequency: Monthly Document reference date: Last business day of the month Deadline for submission to CVM: Fifteen calendar days after the end of the month Method of submission to CVM: By filling out a form in the CVMweb system or via upload of a proprietary file Summary of information required in the document: Information on the profile of unitholders and the fund's risk management

The "Fund Information Summary" will be available on the CVM website for completion starting 12/02/2002, while the "Monthly Profile Report" will be available starting 12/16/2002.

The information received from these new documents will be exclusively for use by the CVM in its investment fund supervision systems and will not be available for public consultation.

The content of the new documents may only be accessed by users of the CVMweb System who receive specific authorization from the responsible director of the administering institution, through the "Account Administration" option, followed by "Delegation of Tasks" and the selection of "Submission of documents via web form – REGULATION SUMMARY" for authorization to submit the regulation summary report, or "Submission of documents via web form – PROFILE" for authorization to submit the monthly profile report.

Sincerely,

Signed original by
CARLOS EDUARDO P. SUSSEKIND
Superintendent of Institutional Investor Relations Contact the CVM