Parex Bankas will also be responsible for signing merchants in Lithuania to accept the American Express Card at their establishments.

"American Express is the world's most premium brand in the financial services industry. For more than 150 years, it has provided customers with outstanding service and innovative products and benefits. We are proud to partner with American Express to present the American Express Gold Card and The Platinum Card to the Lithuanian market. The cards provide access to revolving credit and are the ultimate travel companion, offering security at home and abroad and access to premium experiences," commented Mrs. Alma Vaitkunskien?, CEO of Parex Bankas.

"Parex Bankas shares our commitment to superior customer service and providing quality products to customers, and we look forward to working with them to grow the American Express business in Lithuania," commented Ms. Debra Davies, Vice President, American Express. "These innovative products will help meet the spending and lifestyle needs of local consumers, both at home in Lithuania and around the world."

Powering Financial and Lifestyle Needs
The American Express Cards provide a number of valuable and unique benefits and features, many of which are new to the Lithuanian market. Each of the cards contains several core benefits associated with the American Express brand and products around the world.

• World-Class Customer Service -- American Express Cardmembers will have a dedicated team of professionals ready to provide 24-hour customer service in Lithuania and around the world. Cardmembers will always feel at home in any of the 2,200 American Express Travel Service offices, which can assist in everything from making travel arrangements to providing free, emergency card replacement within 24 hours in Lithuania and 48 hours anywhere in the world.
   
• Financial Empowerment -- The American Express Cards offer 45-days interest free credit and the most competitive credit limits. In addition, American Express Cards can be used to access cash at more than 800,000 ATMs around the world.
   
• Lifestyle Benefits -- American Express Cards can meet the lifestyle needs of a wide range of Lithuanian consumers. In addition to being accepted in Lithuania and more than 200 countries and territories around the world, the Cards provide exclusive Cardmember offers at many hotels, restaurants and retailers in Lithuania and thousands of merchants in many countries around the world.

The Platinum Card also provides access to a specialized lifestyle service unit where dedicated concierge service representatives will do everything to meet almost every unique request. This could include arranging a private jet or seats to attend Wimbledon in London, delivering a special gift anywhere in the world and securing a last-minute table at one of the world's best restaurants in cities including Paris, Tokyo and New York.

• Travel Benefits -- American Express Cards offer travel booking services to meet the needs of travelers both for short and complex international itineraries. In addition, The Platinum Card provides Cardmembers a range of special access services, including free upgrades and special treatment at top hotels around the world.
   
• Peace of Mind -- American Express Cards include an array of insurance and assistance programs that will provide coverage when Cardmembers are at home or traveling abroad. Purchase protection can protect retail purchases in the event of theft or accidental damage; travel accident insurance can protect Cardmembers and their families when traveling, and travel inconvenience insurance can cover the cost of purchasing new clothes or a meal in the event luggage is lost or flights are delayed. Cardmembers can also receive emergency medical and legal referrals, and assistance with passports or visas in foreign countries.

Both the American Express Platinum Card and American Express Gold Card can be used to make purchases at the wide variety of Lithuanian merchants that accept the card, including retailers, petrol stations, supermarkets, hotels and restaurants, including IKI supermarket chain, Levuo, Sarma, Topo Centras, La Provence, Live Lounge, and Viešbutis "Narutis" Hotel. These cards can also be used for payment at the millions of establishments that accept the American Express Card globally and used to withdraw cash at all the ATMs in Lithuania and around the world that contain the American Express logo.

About AB Parex bankas
AB Parex Bankas has been pursuing active development in Lithuania: 15 new Parex Bankas customer service units were opened in the first half of 2007. Since the beginning of this year the bank loan portfolio increased by 61 percent to LTL 874 million, comparing to 2006. The assets of Parex Bankas increased by 47 percent exceeding LTL 1.1 billion. Over the first half, the customers' deposit portfolio increased by 16 percent and accounted for LTL 446 million.

In Lithuania, Parex Group is represented by AB Parex Bankas, UAB Parex Faktoringas ir Lizingas (Parex Factoring and Leasing) and UAB Parex Investicij? Valdymas (Parex Investment Management). The international financial Parex Group owns banks, branches and representative offices in 15 countries of the world.

About American Express
American Express Company is a leading global payments, network and travel company founded in 1850.

Since 1996, American Express has been pursuing a strategy geared towards opening its network and its credit card portfolio to third party issuers all over the world. By maximizing its global infrastructure and the strong appeal of the American Express brand, the company aims at increasing the reach of its network even further. American Express GNS has entered into nearly than 115 strategic alliances in more than 120 markets.

Contacts:
Tom Sclafani
+44 207 976 4513
Thomas.M.Sclafani@aexp.com