In order to facilitate the process of integration of Bulbank, HVB Bank Biochim and Hebros Bank, part of UniCredit Group in Bulgaria, the Supervisory Boards of the three Banks took decisions for changes in the composition and responsibilities of the Management Boards of the three institutions

Mr. Levon Hampartzoumian, currently Chairman of the MB and CEO of Bulbank, as announced before, will be Chairman of the MB and CEO of the merged Bank.

Mr. Peter Harold, currently Chairman of the Management Boards and CEO of HVB Bank Biochim and Hebros Bank, for the integration period becomes also Deputy Chairman of the Management Board and COO of Bulbank. Mr. Harold will manage the Human Resources, Administration and Logistics, Information Technologies, Organisation, Money and Capital Markets and Planning and Control divisions of Bulbank. Mr. Harold keeps his position as Chairman of the Management Boards and CEO of HVB Bank Biochim and Hebros Bank for the period of the integration. He is nominated to be the General Manager of the merged Bank.

Mr. Andrea Casini, currently Deputy Chairman of the MB and COO of Bulbank will also become for the integration period Deputy Chairman of the Management Board of HVB Bank Biochim and Chief Business Officer of the two Banks. Mr. Casini will coordinate the operations of Corporate Banking, Retail Banking, International Markets and Multinationals Divisions. In the merged Bank, Mr. Casini will become Deputy General Manager, responsible for the business divisions of the Bank.

All mentioned nominations will become effective after receiving the needed permissions by Banking supervision and listing in the respective registers.