FUND NEWS                               Nov 25, 2005

Permanent Fund reaches $32 billion

NOVEMBER 25 - The Permanent Fund cleared the $32 billion mark for the first time on November 21.

NOVEMBER 25 - The Alaska Permanent Fund ended November 21 with an unaudited value of $32.1 billion, the first time the Fund has crossed $32 billion.

The Fund has achieved several new high water marks in 2005, crossing $30 billion for the first time in February of this year. But the value of the Fund from day to day shows that it hasn’t been all growth - volatile markets have gone up and down over the past year.

The quarter ending September 30th was strong, with the Fund returning 3.9%, but by the end of September growth had started to slow. In October, returns were down, with all of the Fund’s asset classes producing negative returns, and the value dropping $400 million by month-end.

In early November the trend reversed, with domestic and international stocks taking an upturn. In the last week, domestic stocks have shown strong increases, and domestic fixed income has shown positive returns as well. In November the Fund regained the lost $400 million as well as an additional $800 million to reach $32.1 billion.

"As we give thanks this week, we should be thankful that the people of Alaska had the foresight to create the Permanent Fund almost 30 years ago to benefit Alaskans now and into the future," said Governor Frank Murkowski. "This new milestone of $32 billion reflects the steady management of the Trustees in good markets and bad, as well as the Legislature`s contributions to the Fund`s principal over the years."