Exhibits

Table A Net Revenue Impact Estimates, 2007

Revenue per Cardholder
Annual Interest Other Annual
Segment
Income (€) Revenue (€) Revenue (€) Revenue (€)
Middle Class 3,000-4,500 37.13 23.50 60.63
Affluent 4,500-6,000 86.63 36.75 123.38
Most Affluent 6,000+ 148.50 61.25 209.75

Table B Customer Acquisition Estimates, Year 1 (all customers)

Prospects Response Qualification
Unit Cost (€)
Reached Rate Rate
Direct Mail 0.50 2,500,000 3.0% 60.0%
Take One 0.10 2,000,000 2.5% 30.0%
FSIs 0.05 3,500,000 1.5% 30.0%
Direct Sales €3000/rep 60,000 25.0% 60.0%
Branch Cross-Sell 1.00 50,000 50.0% 90.0%

Exhibit 1
2003 2004 2005
Net revenue 66.0 82.0 87.5
Fees/commissions/insurance 4.0 6.9 13.1
Customer net revenue 70.0 88.9 100.6

Net credit losses 9.8 11.5 14.4

Credit collection 3.3 3.9 4.9
Total credit cycle 13.2 15.5 19.3

Delivery expense 47.0 54.5 57.9

Other revenue/(expense) (4.9) (5.5) (6.7)

Earnings before tax 4.9 13.4 16.7

Customer liabilities (€M) 2,343 2,745 3,000

Customer assets (€M) 1,640 1,922 2,400
Average total assets (€M) 1,875 2,232 2,573
Full-time equivalent employees 564 611 705
Number of accounts (000) 209 256 297
Number of customers (000) 157 179 201
Number of branches 12 13 15

Exhibit 4
Credit Credit Card
Cards Utilization
Romanian Commercial Bank (BCR) 180,000 10%
Raifeissen Bank 200,000 70%
Bancpost 29,000 6%
Romanian Bank for Development (BRD) 606,000 27%

Estimated total credit cards, Romania 1,710,000 20%

Exhibit 5

% of
Annual Income (€)
Population

<1,500 23.2%
1,500 - 2,000 11.9%
2,000 - 3,000 18.8%
3,000 - 4,500 18.2%
4,500 - 6,000 15.0%
6,000 - 7,000 6.6%
7,000 - 10,000 3.8%
10,000 - 15,000 1.2%
>15,000 1.3%