B.O.F. Leasing Taken Over by VUB

Bratislava, December 4, 2007 – Všeobecná úverová banka, a.s., the Buyer, and Prvá slovenská investičná skupina, a.s., the Seller, signed a so-called closing memorandum on acquisition of a 70% stake in B.O.F., a.s. on Friday November 30, 2007. The act was preceded by prior consents of the Antimonopoly Office of the Slovak Republic and the Italian Central Bank to the transaction. At the same time, an extraordinary shareholders´ meeting was held to elect new members of the Management Board and Supervisory Board of B.O.F.

Mr. Martin Rajec, the former member of the Management Board of GE Money, a.s. who joined VUB Group in May 2007, and Mr. Patrik Čatay, Head of Corporate Risk Department of VUB, became new Chairman and member of the Management Board of B.O.F. respectively. Mr. Vladimír Bilčík, the present member of the Management Board of B.O.F., will continue to serve on the Management Board.

The transaction will significantly strengthen the market position of VÚB Bank in financing of SME segment. ”I see an immense growth potential lying in cooperation of the bank and the leasing company. Our objective is to rank among TOP 3 leasing companies on the Slovak market in three years from now”, said Mr. Ignacio Jaquotot, the CEO of VÚB Bank.

B.O.F. is the oldest lease company on the Slovak market and the only one that have not been in hands of any bank group yet. The company ranks sixth on the list of top finance lease companies compiled by the Association of Lease Companies.

VUB is a member of the international banking group Intesa Sanpaolo operating in more than 40 countries worldwide. The Bank runs 207 retail branches and 11 mortgage centres throughout Slovakia. VUB also operates 32 corporate branches, the widest network of its kind in Slovakia, specializing in servicing SME clients and municipalities.

For details contact:
Alena Walterová
Spokeswoman and Head of Press Sub-dept.
Division: Corporate and marketing Communication
Tel.: +421-2-5055 2130
E-mail: awalterova@vub.sk


Michal Kopecký
PR Specialist
Division: Corporate and marketing Communication
Tel.: +421-2-5055 2424
E-mail: mkopecky@vub.sk