FUND NEWS                               Sep 26, 2007

Board updates stock policy, elects Frank chair

SEPTEMBER 26 - The Alaska Permanent Fund Corporation Board of Trustees reviewed the Fund`s fiscal year 2007 investment performance, accepted KPMG`s audit and elected officers during the APFC`s annual meeting in Fairbanks this week. Trustee Steve Frank was elected board chair, and Trustee Bill Moran was elected vice-chair.

The Alaska Permanent Fund Corporation Board of Trustees reviewed the Fund`s fiscal year 2007 investment performance, accepted KPMG`s audit and elected officers during the APFC`s annual meeting in Fairbanks this week.

Trustee Steve Frank was elected board chair, and Trustee Bill Moran was elected vice-chair.

"We are pleased that the Permanent Fund`s investments returned 17.1% for the fiscal year," said Board Chair Carl Brady. "It was a good year for the Fund, and in a fortunate turn of events, all of its asset classes had positive returns."

During the two-day meeting, which began on September 24, the Board also adopted a proposed budget for fiscal year 2009 and approved an updated stock investment policy. The changes included aligning the APFC`s policy to current investment industry practices and allowing managers to invest in all of the security types in their corresponding benchmarks.

The Board was also briefed on how private equity investments are valued and audited, and on the information systems used by the stock, bond and real estate investments staff.

On Monday evening, the Board hosted an economic forum on energy, with panelists from UBS, Alliance Bernstein and Goldman Sachs. The economic forum was followed by a community reception at the Fairbanks Princess Riverside Lodge.

The Board`s next scheduled meeting is December 11 and 12 at the Anchorage Hilton Hotel.