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The Specialist Bank for the Public Sector

Roxana Lazar. The Specialist Bank for the Public Sector. Dexia Crédit Local Total Assets Dec ` 07: EUR 604,6 billions. Kommunalkredit Austria AG Total Assets Dec `07 : EUR 32,80 billions. Our shareholder: Dexia Kommunalkredit Bank.

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The Specialist Bank for the Public Sector

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  1. Roxana Lazar The Specialist Bank for the Public Sector

  2. Dexia Crédit Local Total Assets Dec `07: EUR 604,6 billions Kommunalkredit Austria AG Total Assets Dec`07: EUR 32,80 billions Our shareholder: Dexia Kommunalkredit Bank • First local presence of a Bank specialized in public finance, operating in • Romania since 2005 • DKB operates in CEE through its entities established in Slovakia, Poland, Romania, Hungary, the Czech Republic and Bulgaria • DKB administrates a total portfolio of EUR 8.08 billion.

  3. DexiaKommunalkredit Romania • Leading position on the target segment of Romanian public finance • market (large and medium cities over 30,000 inhabitants) Total volume of signed contracts as of June 2008: EUR 813 mil Preferred currency: RON Preferred maturity: around 20 years Total disbursements as of June 2008: EUR 561 mil Preferred product: direct loan

  4. Sovereign Transactions, EUR 75 million in Eurobonds & EUR 350 million in loans Sovereign Debt Portfolio EUR 75 mil. 10-year maturity Eurobonds launched by the Republic of Romania in June 18, 2008 79 EUR 100 mil. loan to the Republic of Romaniafor financing the construction of Bucuresti-Constanta railway in January 16, 2007 EUR 9 mil. syndicated financing to the Republic of Romaniafor the construction of Brasov Bors Highway in 2005 EUR 70,66 mil. sovereign financing to the Republic of Romaniafor the acquisition of Siemens Desiro trains by SNTFC CFR Calatori SA in November 8, 2006 USD 79,06 mil. sovereign financing to the Republic of Romaniafor purchasing Airbus A-318-111 planes by The Romanian Air Transport Company – TAROM – S.A in November 8, 2006

  5. Sub-sovereign Debt Portfolio Facility amount (EUR equiv.) Beneficiaries over 50 millions Bucharest 2nd District Iasi City 50 – 20 millions Sibiu City & County 4nd District Vaslui County Oradea City 20 – 5 millions Maramures County Alba County Focsani City Suceava City Satu Mare City Lugoj City Arges County Constanta County Alba Iulia City Constanta City Targu Mures City Navodari City under 5 millions Orastie City Mures County Targu Jiu City Calarasi City Giurgiu City

  6. Municipalities indebtedness ratio kept in a responsible limit 30% indebtedness ceiling

  7. Financing Solutions • long-term loans • structured financing • project financing / co-financing EU grants • co-operation with IFIs: MIF (Municipal Infrastructure Facility) under EIB Global Loans resulting in grants and/or reduction of margin to the existing debt contracted through DKB 79 Loan Financing Capital Markets • municipal bonds & Eurobonds • commercial papers / international trade finance • forfeiting • leasing • public-private partnerships • structured products: applying protective and/or saving strategies Special Financing

  8. Conclusion Romania requires major investments in infrastructure, energy efficiency, health, environment protection, etc • Investment in Infrastructure and Environment creates a) quality of life, • b) attracts people and investments and c) provides new jobs • Governmental Funds & EU Grants address only a limited part of the financing needs of the future planned development • Romania needs access to long term financing • Specialized Banks offer competitive and personalized financing solutions Dexia-Kom is your strong partner for Regions, Municipalities and Utilities

  9. Füllungweiß/keine Füllung www.dexia-kom.ro Dexia Kommunalkredit Romania S.R.L. 42 Calea Dorobantilor Street, district 1, 010573 Bucharest Tel: +40-21-20 19 400 Fax:+40-21-20 19 405 Roxana Lazar General Manager Mobile:+40 722 648 021 roxana.lazar@dexia-kom.ro

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