Parex banka has been awarded the title of “Best Foreign Exchange Bank in Latvia 2008” for the fourth time by Global Finance magazine in its annual awards for the world's “Best Foreign Exchange Banks and Providers”. Leonid Ruderman, Vice President, Capital Markets Division, Parex banka, commented on receiving the award: “Parex banka is proud to receive this prestigious award for the fourth time in a row. We are always committed to improve our efficiency and are happy that Global Finance has once again acknowledged Parex banka as the number one foreign exchange bank in Latvia.” “The global foreign exchange market continues to evolve in response to economic, political and technological forces. Average daily turnover has surpassed $3 trillion in this fast growing market. We have identified the banks that large global companies can rely on for their FX needs, ” says Joseph D. Giarraputo, publisher and president of Global Finance. The winners were chosen with input from industry analysts, corporate executives, technology experts and Global Finance editors. The following criteria were taken into consideration: transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. About the Bank: 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. Additional information: Julija Kondratovich International Communications department Ph.: +371 7778572 E-mail: jk@parex.lv