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Grand Opening of ACLEDA Bank Plc. on the Occasion of Obtaining a Commercial Bank

Mr. In Channy cutting ribbon to celebrate new commercial bank licence awarded by the National Bank of Cambodia

March 01, 2004

Phnom Penh — March 01, 2004—ACLEDA Bank Plc. Cambodia's leading micro and retail bank, celebrates its Grand Opening. The ceremony held in the bank's head office at #28, Mao Tse Tung Boulevard in the presence of H.E. Keat Chhon, Senior Minister, Minister of Economy and Finance, and H.E. Chea Chanto, Governor of the National Bank of Cambodia.

ACLEDA Bank Plc. graduated from finance institution to Specialized Bank in October 2000 and received license as a full commercial bank from the National Bank of Cambodia on December 01, 2003. With this license, ACLEDA Bank Plc. can provide full commercial and retail banking services, which includes overseas fund transfers, foreign exchange, trade finance, and expand into new segments of the market.

Mr. In Channy receives commercial bank license from H.E. Chea Chanto, Governor of the National Bank of Cambodia

"ACLEDA Bank Plc. has experienced rapid expansion and growth since we were first licensed as a Specialized Bank three years ago", said Mr. In Channy, General Manager, citing the increase from 56 branches in January 2001 to 105 branches in 21 province today. We now have more than 100,000 borrowing customers and nearly 40,000 deposits. It currently employs 1,445 staff throughout the country most of whom are now shareholders through the bank's Employee Share Ownership Scheme.