Sächsische Aufbaubank – Förderbank joins the European Investment Fund shareholding

EIF is pleased to announce that, following the sale of three shares by the European Investment Bank and effective 30 September 2006, the German bank Sächsische Aufbaubank - Förderbank (SAB) has joined EIF's registry of shareholders with a 0.15% shareholding in the Fund.

EIF is a member of the EIB Group (European Investment Bank holds 61.35% of the EIF share capital) working in close cooperation with the European Union and the European Commission (holding 30% of the EIF share capital), and a range of banks and financial institutions, now totalling 26 in number and holding 8.65% of the EIF's capital. The EIF's authorised capital amounts to EUR 2 billion.

SAB was originally established in 1991 by the Free State of Saxony and the former Landeskreditbank Baden-Württemberg (L-Bank). In 2003, SAB's legal status was changed and the bank was awarded the status of a public bank, fully owned by the Free State of Saxony. SAB becomes the Fund's fourth German shareholder.

Mr. Stefan Weber, CEO of SAB, stated: "SAB as the Development Bank of the Free State of Saxony is very pleased with the shareholding in EIF as the most important development tool of the EU Commission to promote SMEs in the European Union and its regions. We are looking forward to a successful relationship with EIF to improve the access of SMEs in Saxony to EIF instruments and provide EIF with access to business activities in Saxony".

Mr. Francis Carpenter, EIF's Chief Executive, commented: "EIF is very happy to welcome SAB amongst its shareholders. The Fund seeks to develop business activities with its shareholders and we look forward to developing a fruitful relationship with SAB".