Stock Company Parex banka (the Bank): €200,000,000 5.625 per cent. Notes due 2011 (ISIN: XS0253533318) (the Notes) In common with many other financial institutions, the Bank has been adversely affected by the global financial crisis. Reflecting this, the Government of Latvia has recently acquired around 85% of the shares in the Bank as a means of supporting the Bank. The Bank has also entered into certain discussions with lenders under its two syndicated loan agreements. The Bank would like to have similar discussions with the holders of the Notes. Any Noteholder interested in participating in such discussions is requested to contact the Bank using the details below. The Bank will make further announcements as soon as it is able. Irena Mizisa Head of Investor Relations Phone: + 371 6 777 8565 Fax: +361 6 777 8569 e-mail: investor.relations@parex.lv A copy of this announcement will be distributed to Noteholders through Euroclear Bank S.A./N.V. and Clearstream Banking, societe anonyme today.