On July 30, 2010 extraordinary shareholder meeting of Parex banka elected a new Supervisory Council consisting of four people - Michael J. Bourke, present Deputy Chairman of Parex banka's Supervisory Council, as well as Sarmīte Jumīte, Vladimirs Loginovs and Mary Ellen Collins. All of the elected Members of Supervisory Council have notable knowledge and extensive international experience in financial sector. The new Council will assume their posts on 1 August 2010, up to the point the current Supervisory Council will be in duty. M. J. Bourke has almost 40 years of professional experience in banking sector - he started his career in the Irish Central Bank in 1971. Later on, he worked for the International Monetary Fund (IMF) and his job tasks were related with granted foreign loans; he has worked for NCB Group, an Irish bank, in the post of financial director. He has also continued working for the IMF and cooperated with central banks in Central and Eastern Europe. From 1992 - 1997 M. J. Bourke was also an advisor of the Bank of Latvia, helping to develop a modern bank supervision system in the State. From 1997 - 2006 M. J. Bourke worked in the post of the President and Chairman of the Board of Rietumu banka and in 2009 he was elected in Supervisory Council of Parex banka. The Irish government has appointed M. J. Bourke as the Honorary Consul in Latvia; Mr. Bourke is also a member of Association of Chartered Certified Accountants (FCCA). Vladimirs Loginovs, on his part, has more than ten years of experience in investment banking and corporate finance, including organization of M&A deals for such enterprises as Baltcom GSM, Mobil Plus and Kolorits, organizing privatization deals for such companies as Ventspils Nafta and Latvijas Unibanka as well as for many other companies in the Baltic States. Presently, V. Loginovs is a consultant to Privatization Agency, however previously he used to be Head of Investment Services Department at Parex banka. He acquired his degree in CFA (Chartered Financial Analyst) in the USA. Sarmīte Jumīte has worked in several leading positions at the Ministry of Finance of the Republic of Latvia, such as Head of External Debt Administration Department; presently she is Director of Legal Department of the State Treasury. S. Jumīte has taken part in negotiations with the World Bank, European Investment Bank as well as other banks in Latvia on granting State loans and State guarantees. Mary Ellen Collins has more than 30 years of experience in banking sector. For the time being, she is an independent financial consultant and she specializes in attracting investors to developing markets in Central and Eastern Europe as well as Russia and Central Asia. Before that, she worked for the European Bank for Reconstruction and Development for eight years where her main job tasks were restructuring companies and rehabilitating them after crises. About Parex banka: Joint stock company Parex banka was founded in 1992 and it has operated successfully via its representative offices, branches and subsidiaries in 13 countries. In late 2008, due to changes in global finance markets, the State took over shares of Parex banka in order to ensure stability of the bank's liquidity and carry out the bank's restructuring which was completed on august 1, 2010. After the split-up, a part of assets have been retained in the so called “solution bank” which continues to work under the name of Parex banka. Additional information: Indra Zinkeviča Head of Corporate Communications Division Parex banka Tālr. 67778571 Fakss: 67778588 E-pasts: pr@parex.lv