Parex Group is one of the last remaining locally based and privately ownedfinancial institutions in Latvia, offering universal banking services globallyand throughout the Baltic region. Parex banka (further also – Bank) is atruly universal bank, active not only on European retail and corporate markets,but also on the international capital markets. Parex Group subsidiaries operateacross banking, finance, leasing, asset management and life insurancesectors.

Parex Asset Management (PAM) remains the largest and fastest growing assetmanager in the Baltics. In June 2007, PAM was included in the league table ofEuropean 400 largest asset managers, compiled by the magazine Investment &Pension Europe. Moreover, PAM has been named “European Specialist InvestmentFirm 2007” by Funds Europe magazine. In 2007, PAM's consolidated commissionand fee income increased to more than LVL 4 million, while clients' assetsunder management reached more than 0.5 billion LVL. Despite the growingcompetition, PAM's investment funds dominate in Latvia with more than 50%market share. 2007 was very significant in terms of the geographical range ofdistribution of PAM funds and new product launches. In 2007, PAM launchedCaspian Sea Equity Fund, Ukrainian Equity Fund, as well as Strategic AllocationFunds. PAM also became the first investment company in the Baltics to set upfunds on HSBC global distribution platform for institutional investors.

In 2008, Parex Group will continue to develop innovative products and torefine and improve the existing core banking products in order to retain itsleading position in Latvia and broaden its operations in other countries. Webelieve that in 2008 Parex Group will show even better performance andgrowth!