AMIDEX News

New Israel Mutual Fund Posts +100% Gain

AMIDEX35 Doubeles in First Nine Months
TransNations Investments, LLC, March 02, 2000 NEW YORK March 2, 2000 —A first-of-its-kind mutual fund of Israeli stocks reached a milestone today when it passed the 100% growth mark. The AMIDEX35 Mutual Fund, (NASDAQ: AMDEX) launched on June 8, 1999, posted the landmark performance in under nine months. The Fund has gained over 34% this year alone.

The AMIDEX35 Mutual Fund is the only investment vehicle available to US investors for investing exclusively in Israeli stocks traded in Tel Aviv and in New York. TransNations Investments, LLC (TNI), a Wall Street investment advisor, created the AMIDEX35 Mutual Fund to track the AMIDEX35 Index, which includes 35 of Israel’s most highly capitalized, publicly held companies. The Index, up 170% since it was first calculated by Bloomberg, L.P on January 1, 1999, represents a cross-section of the Israeli economy, but focuses on Israel’s thriving hi-tech and telecommunications companies. The Index includes Amdocs (NYSE: DOX), up 140% YTD; Check Point (NASDAQ: CHKP) up 99% YTD; Orckit Communications (NASDAQ: ORCT) up 179% YTD; Mercury Interactive (NASDAQ: MERQ) up 117% YTD, Comverse Technologies (NASDAQ: CMVT) up 35% YTD; and Teva Pharmaceuticals (NASDAQ: TEVI) up 39% YTD.

Clifford A. Goldstein, president of TNI, said he is heartened, but not surprised, by the Fund’s outstanding performance. “When we launched the AMIDEX35,” he said, “we felt pretty sure that this was the right time and Israel was the right place. These numbers have reinforced that belief. Our investors are very pleased.” Boaz Rahav, Fund Manager, adds, “Israeli companies represent a $150 billion-plus market, and include some of the most innovative and promising high-tech investment opportunities in the world. And the world is beginning to realize that.” Index and Fund performance are published daily at www.amidex.com.

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This is not an offering, which can be made only by prospectus. To obtain a copy of the prospectus, and for a complete discussion of risks, charges and expenses, write to the Fund’s distributor, Declaration Distributors, Inc., 555 North Lane, Suite 6160, Conshohocken, PA 19428, or call 1-888-876-3566. Please read the prospectus carefully before sending your money. An investor’s investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than your initial investment. There are risks associated with holding securities of foreign companies, which may include volatility, political, economic and currency risks. Bloomberg, L.P, calculates Index performance statistics. The AMIDEX35 Index is an unmanaged Index comprised of 35 of the highest market capitalization Israeli stocks traded either on the Tel Aviv or New York exchanges, and is not an investment product available for purchase. Index performance may materially differ from the AMIDEX35 Mutual Fund’s portfolio. The Fund offers multiple classes of shares. Performance statistics pertain to the no-load class of shares. Performance, expenses and fees for other share classes will vary.

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AMIDEX Funds' distributor is Matrix Capital Group, Inc., 630-A Fitzwatertown Rd., Willow Grove, PA 19090

The AMIDEX35 Fund is not diversified and is composed of only 35 companies. All investments are inherently subject to market risk. The relatively limited liquidity of some of the equities in the portfolio may affect the fund's ability to acquire desired positions quickly or unable to dispose of securities at a desirable price and time. The fund also invests in foreign country securities which may involve economic, political and currency risks. These factors may adversely affect the value of your investment. The fund charges a 2% redemption fee for shares redeemed with 365 days of purchase.

An investor's return and principal value will fluctuate so that an investor's shares, when redeemed, may be more or less than their original cost. For a complete discussion of the risks, charges and expenses please call1-888-876-3566. Please read the prospectus carefully before you invest or send money. Matrix Capital Group, Inc., Willow Grove, PA 19090 distributes the Funds.

AMIDEX Funds, Inc. is an open-end investment management company currently consisting of one portfolio, the AMIDEX35 Israel Mutual Fund.

AMIDEX35 Israel Mutual Fund is the only fund to invest in Israel's 35 largest companies traded on U.S. and Tel Aviv Exchanges.