Parex banka cannot confirm information published by the newspaper Diena on January 23, 2010, in a story called “Decision on Parex bonds will have to be taken.”  The report focused on the bank’s unaudited losses in 2009 and the established provisions for unsecured loans. The bank’s 2009 financial results are still being calculated, and the bank will announce the results in accordance with the law on the financial instruments market and the rules on quarterly bank reports that have been issued by the Financial and Capital Markets Commission.

About Parex banka:

Founded in 1992, Parex banka currently employs some 1 900 people at branches all over Latvia and 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. Currently, the Latvian Privatisation Agency is the majority shareholder of Parex banka, holding 73.4% of the Bank’s shares, but 22.4% are controlled by the European Bank for Reconstruction and Development. Parex banka has signed up to the European Code of Conduct on housing loans.

For more information:

Inga Saleniece

Corporate Communications Department

Telephone: +371 67778870 or +371 26564629

E-mail: pr@parex.lv