MARTINS JAUNARAJS APPOINTED AS THE CHAIRMAN OF THE COUNCIL AT PAREX ASSET MANAGEMENT

Mr. Martins Jaunarajs, Senior Vice President, Global Head of Capital Markets
and Investment Banking division at Parex banka has been elected as the Chairman
of the Council at the Bank's subsidiary, Parex Asset Management. 
The former Chairman of the Council at PAM was Gene Zolotarev, who has left all
his positions within Parex Group in January 2008. 
The members of the Council at Parex Asset Management also include Valdis
Birkavs, Eriks Brivmanis, Leonids Jamroziks, Arvids Sipols and Roberts Stugis. 

About Parex Asset Management:

With over USD 1 billion assets under management, Parex Asset Management, a
subsidiary of Parex banka, is the largest investment management company in
Latvia. PAM offers investment management and advisory services to domestic and
international retail, corporate and institutional clients. Through its
subsidiaries and representation offices Parex Asset Management also operates in
Lithuania, Estonia, Russia, Ukraine and Kazakhstan. 


Additional information:

Julia Kondratovich
International marketing manager
Parex Asset Management
Ph. + 371 6 701 0388
E-mail: jk@parex.lv