About the contract with AS “Parex banka”

The joint-stock company “Latvijas Krājbanka” (hereinafter referred to as -
Krājbanka) has already informed that on 24 April 2008 it concluded the contract
(hereinafter referred to as - the Contract) with AS “Parex banka” on the
acquisition of AP Anlage & privatbank AG shares. Since before the closing date
of the transaction no circumstances were provided, the entry of which is
required in order Krājbanka would be obliged to make the transaction closing
operations, on 23 October 2009 Krājbanka submitted AS “Parex banka” the request
(notice on dispute) on the repayment of the previously paid sum in the amount
of EUR 5`000`000. 
According to the said request AS “Parex banka” has repaid Krājbanka a part of
the prepayment in the amount of EUR 3`000`000, and the accrued interest. AS
“Parex banka” has not repaid the residual part of the prepayment in the amount
of EUR 2`000`000, and has sent Krājbanka a notice on the unilateral withdrawal
from the contract. As stated before, in the case the transaction parties fail
to agree on the repayment of the residual prepayment within 30 days from the
day the notice on dispute is submitted, Krājbanka shall deliver the dispute to
the London Court of International Arbitration. 



Kristīne Ozolniece
AS “Latvijas Krājbanka”
The expert of public relations
Phone: 67068031
Mobile: 25912461
E-mail: kristine.ozolniece@lkb.lv