Press Release Credit Europe Bank 16th November 2010

Today, 16th of November 2010, The General Assembly of Shareholders of Credit Europe Bank Romania approved the nomination of Mr. Omer Tetik for the Presidency of the Bank and the Board of Directors. Mr. Tetik previously occupied the Prime Vice President position of the bank. The current President, Mr Murat Sabaz will be a member of the Board of Directors and will coordinate all financial investments of Credit Europe Group in Romania.

The shareholders have also decided today the nomination of Mr. Murat Basbay, the new CEO of Credit Europe Group, as a member of the Board of Directors of Credit Europe Bank Romania. All the organizational changes as approved by the General Assembly of Shareholders are subject to NBR's approval.

Mr. Omer Tetik is a member of the bank's executive team since 2000 and has managed overtime the Treasury, Financial institutions, Retail Banking and Cards Divisions. Mr. Murat Sabaz, the actual president, will continue his mandate as member of the Board of Directors and will coordinate the financial investments of all entities owned by the Group in Romania, including Credit Europe Leasing SA, Credit Europe Ipotecar SA and Credit Europe Asigurari SA.

The changes as approved today by the shareholders reconfirm the commitment of Credit Europe Bank Group for Romania and the intention to intensify the current operations on the local market, in all financial areas where the Group is active.