The National Securities Commission (CNVM) has confirmed that Erste Bank, fulfilled conditions regarding the listing on the Bucharest Stock Exchange. The CNVM certificate was released at the end of last week and published in the bulletin of the Committee. The CEO of Erste Bank has stated yesterday, that Erste Bank is expected to be listed at the BVB by the end of 1Q08. Our view: We expect the news to have a neutral stock trading impact today.