20% discount Erste shares for BCR Chisinau staffers

The Banca Comerciala Romana (BCR) Chisinau said on May 18 it has closed the application period for its employees who were willing to purchase Erste Bank shares at a preferential price. The employees of Erste Bank Group, including the employees of Banca Comerciala Romana Chisinau, could purchase, starting 7 May 2007, shares of the Austrian Bank at a 20% discount (from the price as of the date of offer) as a part of a personnel loyalty programme. According to a press release from the BCR Chisinau “compared with similar loyalty programmes launched by other banks, the offer of Ertse Bank is addresses not only to the administrative personnel, but to all bank’s employees”. The employees could purchase maximum 200 shares. The price per share was EUR 47.5. The employees who buy Erste shares may not sell them during one year, i.e. until 30 June 2008, otherwise must return the discount, according to the programme conditions. The mid-term target of Erste is to sell 5% of the Group’s equity to the employees. Also, Erste Bank has a similar programme, addressed to the top management. To qualify for this second program, besides the managerial position the employee should have displayed “exceptional” results, as per Erste Bank requirements. As of May 15 2007, 9.00 a.m. the shares of Erste Bank were quoted at EUR 57.9 per share.