AnaCap to Acquire Czech Bank

Banco Popolare Ceská Republika - Seven Branch Network

LONDON, December 10 - AnaCap Financial Partners LLP ("AnaCap"), the European private equity
firm that specialises in the financial services sector, is to acquire Banco
Popolare Ceská Republika, the Czech subsidiary of Italy's Banco Popolare
subject to confirmatory due diligence and all regulatory approvals.

Banco Popolare Ceská Republika a.s., which incorporates a seven branch
network, is a fully licensed Czech bank that serves corporate and retail
customers.

Earlier this summer AnaCap completed fundraising for a new EUR575m fund
which attracted the backing of investors such as Goldman Sachs, Morgan
Stanley Alternative Investment Partners and Allianz.

According to AnaCap, the Czech Republic is uniquely placed within the
European Union (EU) for rapid but sustainable expansion of its financial
services industry. The Czech Republic currently has a low penetration of
consumer credit with household debt as a percentage of GDP at just 23%,
compared to the Euro Zone average of 53% (source Raiffeisen Research).

The Czech Republic's financial position is one of the strongest of all
emerging markets with relatively low foreign exchange volatility and
sovereign indebtedness and its retail banking market is one of the most
profitable within the EU, with customers and regulators keen to welcome new
competition and product evolution.

Chris Patrick, Partner at AnaCap, comments: "The credit crunch has
encouraged some companies to divest non-core activities and this acquisition
provides us the rare opportunity to grow a banking business in one of the
most profitable banking markets in Europe."

"Households in the Czech Republic have amongst the most conservatively
managed finances in Europe so there is significant scope in the Czech
Republic for a growth in sensible and simple consumer credit and deposit
products."

AnaCap says that following the completion of the acquisition they will
seek to broaden the product mix, deepen management capabilities, and optimise
the management of assets and liabilities at the bank.

    AnaCap has recently completed the following transactions:

    - In August AnaCap purchased Cattles Invoice Finance ('CIF')
      from Cattles PLC for GBP70 million
    - In July AnaCap acquired Mediterranean Bank, a Malta based
      private bank. Mediterranean Bank was founded in 2005 to serve Maltese
      and International high net worth individuals
    - In May, with the acquisition of Aldermore, AnaCap became the
      first private equity firm to acquire a UK incorporated deposit-taking
      bank

About AnaCap Financial Partners LLP

AnaCap is a specialist private equity investment advisor which is based
in London and focuses on pan-European investments in the financial services
sector. AnaCap has more than EUR920 million under management. AnaCap provides
investment advice to both funds and targets businesses with high growth
potential, strong management teams and/or restructuring needs for investment.

Post-investment, AnaCap provides operational and financing expertise to
create value in its funds' investee companies. AnaCap's investment strategy
and team has attracted investment from highly regarded global institutional
investors including Goldman Sachs, Allianz, Honeywell, Morgan Stanley
Alternative Investment Partners, State of New Jersey and Adams Street
Partners.

www.anacapfp.com

Press enquiries: Amber Hilkene, AnaCap Financial Partners LLP, Tel: +44(0)207-070-5250, amber.hilkene at anacapfp.com; Nick Mattison or John Mattison, Mattison Public Relations, Tel: +44(0)207-645-3636