Dear Members of OMX Nordic Exchange Copenhagen SKAGEN Funds will change the currency on its funds traded on OMX Copenhagen. The Funds will be quoted in DKK from 19 March, 2008. • All trading in SKAGEN Funds on OMX, Copenhagen will be in DKK • The SKAGEN Funds ISIN will remain the same after the change to DKK • A new Order Book and a new Order Book Code on OMX will be established for the 4 Funds • The Funds will still be registered in VPS (Central Securities Deposit) in Norway • The number of Shares held by each investor (as registered in VPS) will remain unchanged • Subscribing or redeeming directly with SKAGEN Funds is still possible • In case of subscription/redemption directly with SKAGEN Funds instead of trading on OMX, this can still be in the following currencies: NOK, DKK, SEK, GBP, EUR, USD • Net Asset Value reporting on the Danish market will be in DKK (no longer NOK reporting) • Historical Net Asset Values will change to DKK retrospectively (on Morningstar, FundConnect, etc.) • The 3 daily Intrinsic Value reporting to OMX and our Market Maker, Nykredit Bank, will be in DKK instead of NOK It is SKAGEN Funds intention to make settlement easier when trading in Denmark. We intend to implement a settlement solution involving the Danish VP later in 2008. The Funds in question are: SKAGEN Vekst ISIN: NO0008000445 Shortname: SKIVEK SKAGEN Global ISIN: NO0008004009 Shortname: SKIGLO SKAGEN Kon-Tiki ISIN: NO0010140502 Shortname: SKIKON SKAGEN Avkastning ISIN: NO0008000452 Shortname: SKIAVK Please inform your organisation and relevant clients These changes will impact Financial intermediaries as well as the end investors. We need your help to inform: 1. The relevant people in your own organisation about the changes - there could be implications for your trading department, Middle Office and Back Office. 2. Financial intermediaries, that can buy/sell SKAGEN Funds through your company on behalf of end investors. Please also encourage these Financial intermediaries to inform their own clients about the information in this letter. 3. Your clients if they are investors in SKAGEN Funds. Thank you very much for your coorporation. In case of questions, please call or e-mail us at: Kenneth Lund Petersen + 45 33 41 76 53 klpe@skagenfunds.com Nicolai Stærfeldt + 47 51 21 38 29 nma@skagenfunds.com Kind regards, Kenneth Lund Petersen SKAGEN Funds
SKAGEN Funds in DKK
| Source: SKAGEN Fondene AS