Parex banka opens a branch in Malmö, Sweden


Parex banka today announces the opening of its second branch in Sweden, the     
fourth foreign branch of the Bank in Western Europe. The first foreign branch of
Parex banka was registered in October 2005 in Berlin, Germany, with the second  
branch opening in Stockholm, the capital city of Sweden, in 2006. The newly     
opened branch of Parex banka is located in the center of Malmo, Sweden's third  
largest city. Parex banka is the first bank from the Accession countries of the 
European Union to open branches in Western Europe.                              
Gatis Kokins, Vice President of Parex banka commented: “Our financial           
performance in Sweden highlights the interest being shown in the services       
offered by Parex banka, particularly in deposits. We have participated in       
numerous exhibitions in Swedish towns and Malmo's citizens appeared to be the   
most active users of Parex services and products outside Stockholm. Moreover,   
Malmo is located close to Copenhagen, which will serve as a good basis for      
attracting customers from Denmark.”                                             
By August 2007 Parex banka has attracted deposits amounting to EUR 30 mln. in   
Sweden, which is 4.5 times more than 7 months ago. Currently, the Bank services 
2.200 clients in Stockholm. After opening of the Malmo branch, Parex banka      
expects to double the volume of the raised funds, as well as to significantly   
increase the number of clients by the end of the year.                          
Malmo branch of Parex banka will initially employ 3 people. The Bank also plans 
to register a branch in Geteborg, the second largest city in Sweden, as well    
opening a second customer service center in Stockholm.                          
About Parex banka:                                                              

With EUR 3.9 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:                                                         
Julija Kondratovica                                                             
International Communications Department                                         
E-mail: jk@parex.lv                                                             
Ph.: + 371 777 8572