BRD - Syndicated Loan

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The proposed project consist of a senior syndicated loan to be extended to Banca Romana pentru Dezvoltare (“BRD”) by the EBRD and several commercial banks under an EBRD A/B structure. The syndicated loan package will be used to increase BRD’s source of funding which will allow BRD to support its continuous expansion and to introduce new corporate, SME and retail banking products. The project will allow to support a strong local bank by mobilising long term resources from the market. BRD’s extensive branch network will allow the bank to develop business all over Romania with high standards of service. The business financed by the loan will comprise SME finance, long term loans to corporates and retail business such as mortgages. The operation will also test the appetite of the participants in syndicated markets for long term instruments in Romania and have a demonstration effect for other banks in the country. BRD, a Romanian commercial bank based in Bucharest and a subsidiary of Societe Generale Group. BRD is the second largest commercial bank in Romania with 15.4% market share of total banking assets, total balance sheet of EUR 5.3 billion, equity of EUR 496 million and net profit of EUR 134 million at the end-2005 (IFRS 2005 consolidated and audited figures). Total assets further increased to EUR 6.2 billion by end-June 2006 (RAS unconsolidated unaudited figures). During the first half of 2006, BRD registered a net profit of EUR 88 million (RAS unconsolidated unaudited). As of mid-September 2006, its market capitalisation was at EUR 3.4 billion (based on Bucharest Stock Exchange quotation). To be confirmed. To be confirmed. BRD will continue to comply with EBRD's Environmental Procedures for Intermediated Financing through Local Banks, including adherence to the Environmental Exclusion and Referral List, compliance with the applicable national environmental, labour, health and safety and public consultation requirements, and submission of annual environmental reports to the EBRD. None. Banca Romana pentru Dezvoltare (BRD) Turn BRD, B-dul Ion Mihalache nr. 1-7, Bucharest, 011171 E-mail: bertrand.isnard@brd.ro Contact: Bertrand Isnard - Chief Financial Officer Phone: (40) (21) 301 68 00 Fax: (40) (21) 301 68 06