The Parex Bank will change its legal address on Monday, September 14. From now on it will be Republikas Square 2a in Rīga, which is the bank's new headquarters. A new branch of the bank will open its doors at the new building on Monday, too. Clients will be able to use the bank's services there from 8:00 AM to 8:00 PM on weekdays. The plan is to turn the branch into the bank's primary client service centre in Rīga. It will offer the widest range of banking products and services. New client service standards will be introduced so as to speed up the provision of services and to concentrate the process of client loans in a single location in Rīga. As has been reported in the past, the bank's employees are currently moving to the new administrative building. The bank will save LVL 2.7 million a year by moving out of leased facilities in 11 buildings in the Latvian capital city. Administrative costs will also decline - the overall decline in the first half year was LVL 12.5 million, while the bank expects to save fully LVL 30 million by the end of the year. 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. In August 2009, Parex Bank signed up to the European code of ethics in the area of mortgage lending. For additional information: Inga Saliniece, acting director Corporate Communications Department Telephone +371-6777-8870 or 2656-4629 E-mail: pr@parex.lv