From now on AS “Latvijas Krājbanka” stops sale of the insurance company GRAWE products, instead the bank will offer its clients alternative possibility of accumulation of funds

Starting with June 30th 2008 AS “Latvijas Krājbanka” stops the collaboration
with the insurance company „Grazer Wechselseitige Versichering
Aktiengesellschaft”” (GRAWE) and stops sale of the GRAWE insurance products. 
At the same time AS “Latvijas Krājbanka” informs that the bank is starting
offering clients the 3rd pension tiers offered by its subsidiary company AS
„Pirmais atklātais pensiju fonds”. In addition to the existing plans, AS
„Pirmais atklātais pensiju fonds” has developed two new pension tiers: 
- „Saule - SABALANSĒTAIS”, which foresees balanced investment policy;
- „Jūra - AKTĪVAIS”, which foresees active investment policy. 
AS „Pirmais atklātais pensiju fonds” is planning to launch the wide offer of
the additional pension accumulation to private individuals under the individual
participation contract, and to legal entities under the collective
participation contract, when the employer makes payments in favour of its
employees. 
The assets of the AS „Pirmais atklātais pensiju fonds” pension plans will be
managed by one of the most successful managers of the 2nd tier pension system -
AS „Ieguldījumu pārvaldes sabiedrība „Astra Krājfondi””. 
GRAWE life insurance contracts, which were concluded through intermediary of AS
“Latvijas Krājbanka” are valid, and from June 30th 2008 the necessary support
and consultations to clients on GRAWE insurance products will be provided by
the GRAWE company collaboration partner in Latvia - SIA „Eurolife Latvia”. SIA
„Eurolife Latvia” office is situated at 2b Zemitāna Street in Riga (telephone:
67311513; fax: 67311512; e-mail: office@eurolife.lv).