OREANDA-NEWS. July 29, 2014. IPAS Citadele Asset Management (Company) hereby announces that with the permission of the State Social Insurance Agency (VSAA) and the agreement of the Finance and Capital Markets Commission:

1) The 2nd pension pillar investment plan "Citadele pensiju plans "Dzezs"" will be appended to the "Citadele Aktivais pensiju plans" on October 8, 2014, following which the assets of the "Citadele pensiju plans "Dzezs"" will be managed in accordance with the investment strategy and policies of the "Citadele Aktivais pensiju plans";

2) The 2nd pension pillar investment plan "Citadele pensiju plans "Bluzs"" will be appended to the "Citadele Universalais pensiju plans" on November 6, 2014, following which the assets of the "Citadele pensiju plans "Bluzs"" will be managed in accordance with the investment strategy and policies of the "Citadele Universalais pensiju plans".

The VSSA will send letters to all participants of the "Citadele pensiju plans "Dzezs"" in July this year and to all participants of the "Citadele pensiju plans "Bluzs"" in August this year to provide all necessary information. Once the information is received, all participants of the "Citadele pensiju plans "Dzezs"" and participants of the "Citadele pensiju plans "Bluzs"" will have the right to change the manager of funds and the investment plan, by submitting an application on change of the manager or the investment plan to the VSAA by September 26, 2014 (for the "Citadele pensiju plans "Dzezs"") or by October 29, 2014 (for the "Citadele pensiju plans "Bluzs""). If the application is not received before the mentioned date, then the Company will continue to manage 2nd pension pillar capital accrued by the participant in the "Citadele pensiju plans "Dzezs"" in accordance with the investment rules of the "Citadele Aktivais pensiju plans", while 2nd pension pillar capital accrued by the participant in the "Citadele pensiju plans "Bluzs"" will be managed in accordance with the investment rules of the "Citadele Universalais pensiju plans".

The history of the 2nd pension pillar investment plans appending

After the Citadele Group took over the assets of GE Money group in 2013, including the 2nd pension pillar investment plans „Dzezs” and „Bluzs”, IPAS Citadele Asset Management evaluated the 2nd pension pillar investment plans, including its risk profiles, the investment region, the investment policies set out in investment plan prospects, and the volume of investment plans. It was found that it would be more advantageous for participants of the 2nd pension pillar investment plans and for the manager of the funds to append 2nd pension pillar investment plans with an equal risk profile (accordingly, the "Citadele pension plan "Dzezs"" and "Citadele pension plan "Bluzs"") to other previously established and successfully operating 2nd pension pillar investment plans under the management of the IPAS Citadele Asset Management.

We will very much appreciate your decision to continue your further cooperation with the IPAS Citadele Asset Management investment plans – the "Citadele Aktivais pensiju plans" or the "Citadele Universalais pensiju plans".