On Wednesday, 18 March 2009, following the meeting with the Prime Minister of the Republic of Latvia Valdis Dombrovskis, the First Vice President of European Bank of Reconstruction and Development (EBRD) Varel Freeman announced that EBRD is willing to obtain minority shares of Parex banka investing 100 million Euro (70 million lats). V.Freeman underlined that the final decision on the acquisition will be made within the coming weeks. V.Freeman acknowledged that the decision on the support to Parex banka was made since the Bank is stable and it has a very proficient management. EBRD will also prepare proposals on the further strategy and operations of the Bank. EBRD has a great experience in the restructuring of the banking business. The entering of EBRD into a bank is being considered as a positive signal for vitality and development potential of the institution. As it was previously announced, in January and February 2009 EBRD performed a complete due diligence of Parex banka. About Parex banka: Founded in 1992, Parex banka offers universal banking services throughout the Baltic region, the CIS and other European nations such as Germany, Switzerland and Sweden. Parex Group companies operate across the banking, finance, leasing, asset management and life insurance sectors. Parex banka is the only partner of American Express in Latvia and Lithuania, allowed to issue American Express credit cards. Since 27 February 2008, the Latvian Privatisation Agency is the majority shareholder of Parex banka. Additional information: Indra Zinkevica Head of Corporate Communications and PR Ph. +371 6777 8571 or +371 2913 9449 E-mail: pr@parex.lv http://www.parexgroup.com/en/