AMIDEX News

AMIDEX Launches Cancer Mutual Fund


Yahoo Finance, October 01, 2001 New York, NY, October 1, 2001— AMIDEX Mutual Funds, Inc. announces the launch of the first-ever index mutual fund targeted at cancer.

The AMIDEX Cancer Innovations & Healthcare Mutual Fund will invest in the 45 pharmaceutical, biotechnology and medical device companies that comprise the AMIDEX eMed Cancer Innovations & Healthcare Index. The Index includes pharmaceutical giants Merck (NYSE: MRK), Pfizer (NYSE: PFE) and Abbott (NYSE: ABT), biotech leaders Chiron (NASDAQ: CHIR) and Genentech (NYSE: DNA), and medical equipment companies Beckman Coulter (NYSE: BEC) and Cytyc (NASDAQ: CYTC).

“A revolution is underway in the development of cancer detection and treatment methods. New technologies have opened the door for great progress in the marketing of drugs to combat cancer, and our Fund highlights companies that are leading the way,” said Cliff Goldstein, President of AMIDEX Funds, Inc. “It is the only index mutual fund to focus on the growing sector of cancer diagnosis and treatment.”

Cancer is the No. 2 killer in the US. There are about 9 million Americans living with cancer, and it is estimated that 1.2 million new cases will be diagnosed this year. Direct medical expenses attributable to cancer exceed $60 billion per year. 2

“Almost half of all medicines now in clinical trials are drugs targeted at cancer. I see this subset of the healthcare industry as one of the most significant for the next decade,” said Robert W. Naismith, CEO of eMedsecurities, Inc., a global investment bank and brokerage, that calculates and publishes the Index at www.emedsecurities.com.

During the month of October, the AMIDEX Cancer Innovations & Healthcare Mutual Fund shares can be purchased through www.emedsecurities.com without a sales load. After October 30, 2001, investments will be made at the then current net asset value with sales load, if applicable. Investment information is available at www.amidex.com or (888) 876-3566.

For more information about AMIDEX Mutual Funds, contact Cliff Goldstein at (212) 425-0650 or cgoldstein@amidex.com.

For more information about the AMIDEX eMed Cancer Innovations & Healthcare Index, contact Barbara Bradley at (212) 981-3488 or bhb@emedsecurities.com

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Services

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.