Parex Asset Management (PAM), the investment management arm of Parex banka has registered Parex Caspian Sea Equity fund for distribution in Switzerland. On October 15, 2007 the Swiss Financial Supervisory Authority has registered the Parex Caspian Sea Equity fund for public distribution in Switzerland. Mr. Robert Idelson, the President of Parex Asset Management, said: “The interest of international investors to the equities of companies based in Asia is steadily increasing. Parex Caspian Sea Equity fund is one of the first investment products, that offers access to the equities of companies rapidly developing in this region. We hope that the long term experience of Parex Asset Management in the Caspian Sea region will be highly valued by investors in Switzerland.” Parex Caspian Sea Equity fund was registered on February 14, 2007. Since inception, the assets of the Fund have increased up to EUR 17.6 mln. The objective of the fund is to achieve long-term capital growth by investing in a diversified portfolio of equity securities located in or exposed to growth in the rapidly growing Caspian Sea region. The investment certificates of Parex Caspian Sea Equity fund are listed on the Riga Stock Exchange. About Parex Asset Management: With over USD 1 billion of assets under management, Parex Asset Management, the subsidiary of Parex banka, is the largest investment company in the Baltic Region and one of the most experienced in the Central and Eastern Europe. PAM invests internationally, maintaining a complete investment product range, when constantly tracking the best investment opportunities in each geographic region. Through its subsidiaries and representation offices Parex Asset Management also operates in Lithuania, Russia, Ukraine and Kazakhstan. About Parex banka: With EUR 4.3 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. For further information please contact: Julia Kondratovich International Communications Department E-mail: jk@parex.lv Ph.: + 371 6777 8572