Quadrant Risk Management (International) Limited, a leading supplier of enterprise risk and compliance solutions, today announced that AB Parex Bankas (Lithuania) has successfully implemented Quadrant’s SAB² solution for Basel II capital adequacy and compliance reporting.

London, UK, 15th July 2008, Quadrant today announced that AB Parex Bankas (Lithuania) has successfully completed the implementation of its SAB² Basel II Standardised Approaches compliant capital adequacy reporting solution. The reporting is based on the COREP (Common Reporting Framework) specified by CEBS (The Committee of European Banking Supervisors), localised to the requirements of the Lithuanian regulator.

Paul Lockyear, CEO Quadrant, said, “We are delighted to achieve this successful implementation of SAB² for regulatory reporting at AB Parex Bankas in Lithuania.”

Linas Skridaila, CIO of AB Parex Bankas (Lithuania) said, “We have successfully completed our implementation of Quadrant’s SAB² solution for Basel II reporting enabling us to be fully compliant with the requirements of the Lithuanian regulator. The project went smoothly and we really appreciated the practical support provided by Quadrant, from both the technical and more importantly the domain perspective."

About AB Parex Bankas (Lithuania)

AB Parex Bankas (Lithuania) is a rapidly growing full service bank. Since February 2006 it has established 17 new customer branches and increased its banking activities two-fold. AB Parex Bankas (Lithuania) is 100% owned by AB Parex Bankas (Latvia), the largest local financial services group in the Baltics. To find out more about Parex Bankas visit www.parexgroup.com.