CNB Board Meeting of 15 June 1998

The Board of the Czech National Bank on its today's meeting evaluated the results of negotiations on selling part of Agrobanka Praha a.s. (AGB) to a newly established bank GE Capital Bank a.s. (GECB) and accepted that this transaction will be effected as of June 22 1998. On this day AGB depositors will become the clients of GECB under the same terms. The new bank operation will continue to use the Agrobanka brand name and will provide it's usual products and services through all existing units. Clients of the bank will be informed about new facts individually.

CNB - M. Švehla