EMF bonus issues

Dear Investors,

The EMERGING MARKET FUND(EMF)'s Fund Administrator has
decided to split every one(1) EMF share hold by SwissCash
investors to four(4) shares effective today, 3rd of
May 2007.

As a result of this exercise, the closing price on 2nd
of May, USD4.00 will be readjusted to USD1.00 per
share. For example, if an investor holds 10,000 EMF
shares of USD4.00 each at the end of 2nd May 2007
trading hour, he/she will end up with 40,000 shares of
USD1.00 each.

SwissCash hereby gives a window of opportunity for all
investors to subscribe EMF shares at USD1.00 / share from
today until 9th of May 2007. Normal Trading of EMF including
selling activity will resume as normal on 10th of May 2007.



Best regards,

SwissCash Technical Department.