Romanian Bank for Foreign Trade

London Investment Bank was established in 1985 and our head quarter is in London; in the last 18 years, we have enlarged our network and our sales force for Eurobonds issues. We are one of the world's best-capitalized financial institutions, with a capitalization of more than US$ 35 billion, US$ 20 billion in shareholder equity and US$ 1 trillion in invested assets. We have 15,000 employees in over 30 countries, covering Europe, United States, Canada and Asia. We expand our capital markets activity in the last 8 years, by developing sales force for Eurobond issuance.

We are triple A rated by Fitch, Aa1 by Moody's and AA+ by Standard&Poors. Our total number of corporate clients around the world is more than 6,000, over 3,000 institutional clients, comprising the largest asset managers, hedge funds, insurance companies, pension funds and banks. We are one of the few investment banks with a truly global, cross-disciplinary research capability and we were awarded "The World's Best Investment Bank involved in capital markets" (Euromoney, August 2003) because of our strength across the board and management discipline.

Our clients recognize the value of the commitment we make to the structuring, marketing and distribution of transaction. Our competitive advantages are: – Commitment to CEE: LIB has over a decade of continuous commitment to CEE and an unparalleled network of full banking operations across the region; – Strong execution capabilities: LIB is the leader in bringing CEE issuers to the international bond market; – First class research coverage and rating advisory team: our team of professionals is ready to advise the issuer and to help him in preparing the documentation for the rating process.

When winning a lead-manager mandate for coordinating a Eurobond issuance, our rating advisory team visits the issuer head quarter and advise him during the rating analyses performed by international rating companies; our team's work related to rating advisory activities is not charged, being perform for free, as our obligation as a lead-manager; – Unique distribution model: our distribution model differs significantly from the "bulge bracket" houses, whose sales forces are located only in the world's major financial centers.

Our matrix distribution model is based on combining the institutional sales force located in the major financial centers with a retail focused sales force in each of 30 countries in which we have banking operations. This distribution model gives us unparalleled access to the broadest institutional and retail investor base, particularly in Europe. All our managers have a strong expertise in the capital markets field and if you wish to contact them for more details, they are ready to offer you any information you need.

We expect that strong pan-European investor demand will drive up to 70-75% of a US $ transaction. US off-shore accounts will balance the remaining 25-30% of the transaction size. Actual geographic demand will vary by maturity selection. The principal investor base will consist of a combination of Banks, emerging market dedicated bond funds, Global bond funds and retail. A successful road-show is key to the success of a bond issue by a non-frequent issuer. It is absolutely crucial to meet with the investors and present RBFT's credit story and actual position and performances.

Our sales force network will organize the meeting with investors and will inform them about RBFT's position in the Romanian banking system. LIB has unmatched sales force coverage across the European investor universe with over 400 total sales staff positioned regionally and centrally. We recommend having a ten days roadshow, seven days in Europe (in Athens, Vienna, Zurich, Milan, Frankfurt, Paris and London) and 3 days in United States (one day in Boston and two days in New York). We will also hold global conference calls with US offshore and some Asian investors to entice them into the transaction.