Parex Asset Management (PAM), the investment management arm of Parex banka has registered Parex Russian Equity fund for public distribution in Germany. This fund is the third Latvian investment fund in Germany and is now available to investors at all Parex banka branches in Germany. Mr. Robert Idelson, President and CEO of Parex Asset Management comments: “Russian equity market is rich with investment opportunities in a long term, and the interest of international investors in the equities of Russian companies is constantly growing. Starting today we offer a variety of investment opportunities brought by the Russian market to all our customers in Germany and we are certain that Parex Russian Equity Fund and our long standing experience in Russia will be very well received by international investors”. Parex Russian Equity fund was registered on March 17, 2004. Since inception, the assets of the Fund have increased up to USD 21.2 mln. The objective of the fund is to achieve long-term capital growth by investing in a diversified portfolio of Russian equity securities. The investment certificates of Parex Russian Equity fund are listed on the Riga Stock Exchange. About Parex Asset Management: With over USD 1 billion of assets under management, Parex Asset Management, the subsidiary of Parex banka, is the largest investment company in the Baltic Region and one of the most experienced in the Central and Eastern Europe. PAM invests internationally, maintaining a complete investment product range, when constantly tracking the best investment opportunities in each geographic region. Through its subsidiaries and representation offices Parex Asset Management also operates in Lithuania, Russia, Ukraine and Kazakhstan. In 2007 the company was named the “Best European Investment Specialist Firm of the Year” by Funds Europe Magazine. About Parex banka: With assets exceeding EUR 4.34 billion Parex banka is the largest independent financial institution in the Baltic States. With a track record of consistent growth since being founded in 1992, it 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 assigned the following international ratings: Moody's Investors Service - Baa3 (investment grade), Fitch Ratings - BB+, Capital Intelligence - BBB (investment grade) Additional information: Julia Kondratovich Head of Marketing and Communications Parex Asset Management Ph. +371 67010388 E-mail: jk@parex.lv www.parexgroup.com