
| Korea International Investment Fund
is managed by International Investment Advisers (IIA). Founded in 1992,
IIA focuses solely on developing and managing investment funds that invest
in the Korean equity markets. IIA is privately held, with offices
in New York and Seoul. Fund managers and analysts make scores of company visits and perform extensive proprietary research each year. Our clients are predominantly institutions and high-net worth individuals seeking exposure to emerging market equities. IIA 's management believes the Korean market remains significantly undervalued against other emerging markets in Asia and elsewhere. At the same time, Korea 's stock market now ranks as the sixth most liquid in the world, with average daily trading of nearly $5 billion in 2005. Many of the world 's leading communications and technology companies are Korean-based. Our goal is simple: to access the potential of the Korean equities markets while managing the currency, governance, volatility and political risks investing in Korea entails. |

Korea's MSCI Weighting
In 1997 6.6%. In 2006: 17.7%.
(Emerging Markets Free Far East Index)