AMIDEX News

A Happy First Birthday For AMIDEX35

U.S.-Based Mutual Fund Of Israeli Stocks Soars In Year 1
TransNations Investments, LLC, June 12, 2000 A Happy First Birthday for AMIDEX35 U.S.-based mutual fund of Israeli stocks, caps Year 1 Up 78.70%

NEW YORK June 9—The AMIDEX35 Mutual Fund (Symbol: AMDEX), the only US-based mutual fund investing exclusively in the publicly-traded stocks of Israeli companies, completed its first 52 weeks of operations on June 8, posting a gain of more than 80% during its inaugural year.

“We knew the AMIDEX35 concept was a strong one when we launched it,” said Clifford A. Goldstein, President of TransNations Investments, LLC, the Wall Street adviser to AMIDEX35. “What is even more impressive is how the AMIDEX35 weathered the ups and downs of the market and emerged steady and strong.”

The AMIDEX35 Fund tracks the AMIDEX35 Index which represents a cross-section of the Israeli economy; from the banking and retail industries to communications and high-technology. Bloomberg, L.P. calculates and publishes the AMIDEX35 Index, which was publicly introduced on January 1, 1999.

The AMIDEX35 Fund—featured recently in The New York Times and on CNBC-TV—includes Israeli companies that are traded either on Wall Street or in Tel Aviv or both. It comprises well-known high-tech companies such as Comverse Technology (NASDAQ: CMVT; 13% of the portfolio) Mercury Interactive (NASDAQ: MERQ 6% of the portfolio), Backweb Technologies (NASDAQ: BWEB; 1% of the Portfolio), and AudioCodes (NASDAQ: AUDC; 2% of the portfolio), Gilat Satellite (NASDAQ: GILTF; 2% of the portfolio) as well as blue chip Israeli stocks trading in Tel Aviv such as Bank Hapoalim (4% of the portfolio) and Bezeq (5% of the portfolio).

According to Fund Manager Boaz Rahav, Israel has emerged as the one of the best international plays in the market for the year 2000. "The AMIDEX35 Mutual Fund outperformed both the NASDAQ (up 60% in the same 52 week period) and the Tel Aviv 25 Index (up 50% in the same 52 week period). The AMIDEX35 literally gives you the best of both worlds." Despite the turmoil in the securities markets that characterized the first part of this year, The AMIDEX35 continues to grow. Morningstar.com, the online financial service, lists The AMIDEX35 in first place among all Diversified Stock Funds as the highest returning fund, based on total return percentage year-to-date.

Similarly, Bloomberg, L.P., which tracks some 11,082 mutual funds, places The AMIDEX35 in the top 1% of all mutual funds in the United States based on its year-to-date returns (which are approaching 30%). For more information on the AMIDEX35 Mutual Fund or for a prospectus, visit www.amidex.com, or call 888-876-3566.

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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.