CORRECTION: Notification on Parex Group's consolidated and unaudited financial results for 3quarter of 2008

Correction: Financial reports for 3 quarter of 2008 in EUR currency added

In 9 months of 2008 Parex Group posted LVL 13.2 million in profit. According to
the financial data as at 30 September 2008,  the Group's assets stood at LVL
3.35 billion, the amount of loan portfolio was LVL 2.21 billion, the deposits
comprised LVL 2.20 billion, the Group's capital and reserves were worth LVL
216.3 million. 

Parex Group owns representatives offices, branches and subsidiaries in 15
countries, including banking affiliates and customer services centers in
Estonia, Germany and Sweden. Parex banka with its head office and three main
branches located in Riga, Latvia is a core company of Parex Group. Parex
Group's subsidiaries operate in various financial markets sectors, including
subsidiary banks in Switzerland and Lithuania, asset management companies in
Latvia, Russia, Ukraine, Lithuania, Parex open Pension Fund in Latvia, leasing
and/or factoring companies in Latvia, Lithuania, Estonia, Russia, Ukraine,
Belarus, Azerbaijan, Georgia and finally life insurance company Parex Dziviba
in Latvia. Parex Group offers to its customers integrated services in such
sectors as lending, payment/credit cards, leasing, asset management and
securities trading. 

On 10 November 2008, an agreement allowing Parex banka to receive financial
support from the Latvian Government was signed by Atis Slakteris, Minister of
Finance, Inesis Feifers, president of the state-owned joint-stock company
Mortgage and Land Bank and Parex Banka's main shareholders Valerijs Kargins and
Viktors Krasovickis. Under the terms of this agreement, subject to fulfilment
of certain conditions precedent, 51% of Parex banka's shares will be taken over
by Mortgage and Land Bank - a commercial bank with a 100% state capital. No
merger between Mortgage and Land Bank and Parex banka will take place. Both
banks will continue to operate as separate financial institutions - each with
its own management and business divisions. No decisions about the further
development strategy of the Group have been made yet, however, the customers
and providing them with a high-level service, while restoring and strengthening
the confidence in Parex banka remain a firm priority, which will be
substantiated and supported by the presence of the State as the majority
shareholder and the guarantee of security. 

Parex banka is assigned the following international ratings: Moody's Investors
Service - Ba1, Fitch Ratings - BB.