CAPITAL INTELLIGENCE RAISES PAREX BANKA'S RATING


The international rating agency Capital Intelligence upgraded Parex banka's
long-term foreign currency and financial strength rating to BBB (previously: 
BBB-). The short-term foreign currency rating was affirmed at A3, with a
support factor of 4. The outlook on all ratings is stable. 

In its credit report, Capital Intelligence emphasizes Parex banka's strong
growth in Latvian and neighboring economies, strong franchise and widespread
customer base, improvement in asset quality, as well as further diversification
of the funding base. 

The full Capital Intelligence report is available at the agency's web page
www.ciratings.com. 

About the Bank:
With EUR 3.4 billion in assets, Parex banka is one of the leading banks in the
Baltic States, offering integrated client services, including lending, payment
card services, leasing, asset management and securities brokerage. The Bank is
represented in 15 countries through its wide network of representative offices,
branches and subsidiaries, including a subsidiary in Switzerland, AP Anlage und
Privatbank AG. 
Parex banka is rated Baa3 by Moody's Investors Service, BB+ by Fitch Ratings
and BBB by Capital Intelligence. 

Additional information:
International Communications Department
Phone: +371 777 8572
E-mail: jk@parex.lv