APOL, ATH and CYTR record NAV decline

Apollo Investment Fund Pcl (APOL) announced that its NAV as at 30 June 2008 was EUR 0.6022 per share compared with EUR 0.7030 per share as at 31 March 2008 representing a decline of 14.3%. Based on the stock’s latest closing price APOL trades at a 50.2% discount to its NAV. The Company‘s portfolio consists of 34.6% investments in the local banking sector (vs. 32.8% as at 31 March 2008), 23% in international investments (vs. 19.2%), 4.2% in other local equities (vs. 9.6%), 3.6% in Government Bonds (vs. 3.2%) and 14.8% in cash (vs. 16%).

Athena Cyprus Pcl (ATH) announced that its NAV as at 30 June 2008 was EUR 0.5670 per share compared to EUR 0.6383 per share as at 31 March 2008 representing a decline of 11.2%. Based on the stock’s latest closing price ATH trades at a 54.1% discount to its NAV. The Company‘s portfolio consists of 14.3% investments in the local banking sector (vs. 18.3% as at 31 March 2008), 9.8% in international investments (vs. 5.1%), 10.2% in other local equities (vs. 9.8%), 2.1% in Government Bonds (vs. 1.9%) and 44.8% in cash (vs. 43.3%).

Cytrustees Investment Pcl (CYTR) announced that its NAV as at 30 June 2008 was EUR 1.8884 per share compared to EUR 2.0290 per share as at 31 March 2008, corresponding to a decline of 6.9%. Based on the stock’s latest closing price CYTR trades at a 36.5% discount to its NAV. The Company‘s portfolio consists of 47.1% investments in the local banking sector (vs. 49.9% as at 31 March 2008), 20% in international investments (vs. 14.4%), 4.2% in other local equities (vs. 8.1%), 6.5% in Government Bonds (vs. 6.4%) and 14.7% in cash (vs. 9.4%).