Investing in the EurOrient Financial Group for a Stronger Organization Worldwide

LOS ANGELES, CA--(Marketwire - October 8, 2008) - EurOrient Financial Group ("EurOrient") has announced that it will relocate its world headquarters from the County of Los Angeles to the City of Irvine ("Irvine"), Orange County, California. EurOrient plans to start making the move to Irvine within next six months. The relocation to Irvine will support the EurOrient institutional development agenda and better support the current and future expansion needs of the rapidly growing organization as well as will position EurOrient in a more central location with a closer proximity to national and international gateways. EurOrient will continue to maintain its presence in the County of Los Angeles following the establishment of the new City of Irvine global headquarters.

The EurOrient Financial Group plans to consolidate and to further develop its operations in the City of Irvine and to bring together under one roof its subsidiaries' developmental financial institutions. EurOrient Financial Group today consists of five jointly-owned development financial institutions with a common mission and distinct mandates towards its fulfillment. Collectively, EurOrient Financial Group provides debt and equity and equity-like financing, policy advice and technical assistance.

The relocation to the City of Irvine, Orange County from Los Angeles could involve initially the creation of 500 to 600 highly-skilled new jobs, EurOrient Financial Group officials said. EurOrient Financial Group is estimating that at the time that the organization has realized its 10-year institutional development plan the EurOrient's global headquarters will be comprised of approximately 10,000 to 13,000 employees, with most comparing favorably to our sister regional multilateral development banks. Exact numbers for total jobs, however, remain unclear, as does the exact timing of the move. Those specifics await the approval of the Treasury Board of the EurOrient Financial Group, which should be finalized this winter.

"Over the past three years, we have been advancing our strategic institutional development model, which was designed to expend the activities of EurOrient Financial Group in emerging economies and to offer a wider breath of financial products and services to a larger number of less developed countries," Mr. Ron Nechemia, the Chairman of the Board of Directors of the EurOrient Financial Group, said. "Establishing the EurOrient Financial Group global headquarters in the City of Irvine will give us greater flexibility in addressing our growth carve, and the additional resources in this market will lead to accelerated growth for EurOrient. In addition, the vibrant and diversified economic and culturally diversified human resources of Orange County, San Diego and Los Angeles will be particularly helpful to EurOrient Financial Group as we seek to continue attracting and retaining talented employees."

Mr. Ron Nechemia added that EurOrient Financial Group is taking advanced measures to ensure that adverse impact on our activities, which may arise out of the relocation, will be held to the absolute minimum. The Treasury Boards of EurOrient Financial Group will soon review EurOrient's 2009 work program and while some delays will inevitably occur due to the relocation exercise, we do not expect it to affect fundamentally its direction and execution. Indeed, we will take the required steps and make every effort to recoup the lost time, particularly with respect to our lending and investment operations.

EurOrient Financial Group is a private sector global development finance institution accredited financial institution by United Nations General Assembly on Financing for Development. The mission of the EurOrient Financial Group is to support the economic and social development efforts of the less developed countries as they, in particular, seek to achieve the Millennium Development Goals ("MDGs").

The EurOrient's principal objective is to reducing poverty and promoting sustainable economic growth. EurOrient invests in projects and programs that promote social development, build human capacities, and address host government priorities for investments in physical infrastructure that promote and enhance social development. These projects include roads, transportation and communication systems, water, sanitation and other types of investments with social development outcomes such as improved quality of life and increased human knowledge and skills.