Bulgarian-American Credit Bank (BACB) issued its seventh mortgage bond worth EUR 15 million. On 7th December 2009, the Lead Manager UniCredit Bulbank successfully finalized the sale of the issue under the terms of private offering. The issue was mostly subscribed by institutional investors.

The new BACB issue is for a period of three years and maturity on 7 December 2012. The coupon is fixed at 7.50 percent per annum, payable on six month basis. The principal is fully payable at maturity. The issue is secured with loans, secured by mortgages, from the portfolio of the Bank. The loans are insured against all standard risks in the favor of BACB.

According to BACB information, the Bank plans to use the proceeds from the issue to refinance maturing liabilities and to finance its credit portfolio.

Within three months after the issue date and after the approval of the prospectus by the Financial Supervision Commission, BACB will request the bonds to be listed for trade on the regulated market.

About UniCredit Bulbank

UniCredit Bulbank is an undisputable leader in the area of investment intermediation and innovator on the Bulgarian capital market. During the current year, UniCredit Bulbank was the Lead Manager of the biggest issue of shares worth BGN 200 million and at the same time the first in Bulgaria issue of preferred shares, as well as the Lead Manager of the only IPO for 2009. During the current year, UniCredit Bulbank was awarded “Bank of the Year” by The Banker magazine, “The Best Bank in Bulgaria” by the international magazine Euromoney, as well as “The Best Bank in Bulgaria and the Best International Bank in Bulgaria” by Emeafinance magazine. UniCredit is “The Best Investment Bank” according to Euromoney magazine.

About BACB

BACB is specialized in the providing secured financing to small and medium-sized enterprises in Bulgaria with separate credit programs for financing SMEs in various sectors of the economy, including tourism and construction. According to the information published by the Bulgarian National Bank (BNB), as of September 2009 BACB has been the 19-th bank in Bulgaria in terms of total assets, 13-th in terms of capital and over the last years has reported the largest return on assets from all Bulgarian banks included in the BNB statistics. BACB AD was rated by the Standard & Poor's at BB- on 17 July 2009.

BACB’s performance was recognized by Finance Central Europe (FCE) Magazine and by Pari Daily. Due to its results in 2008, the Bank received two FCE achievement awards - Best Bank in Bulgaria by ROE and Best Bank in Bulgaria by ROA, while Pari Daily pronounced BACB as the Most Efficient Bank in Bulgaria for the fifth time in its history. In addition, in October 2009 the Bank received the Bulgarian Investor Association’s award for Public Financial Institution in Bulgaria with Best Corporate Governance for year 2008.

For contacts:

Unicredit Bulbank, Public Relations and Corporate Communications

Victoria Blajeva, tel: 02/9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, tel: 02/9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

BACB AD: Veneta Ilieva, Investor Relations Officer, tel: 02/9658 379; wqjmjfwbAcbdc/ch