Allied Deals PLC - RBG Resources Plc

BCV announces that its commitments amount to USD 49 million.

In the interest of transparency, BCV would like to inform the public of its financial commitments regarding the company Allied Deals PLC - RBG Resources Plc, a firm which has been the subject of recent press articles relating a sophisticated in - house fraud scheme. The British daily The Guardian has reported that several banks have been affected, but has not specified which ones.

BCV is active in the financing of international commodity trading, and has financed a number of transactions originating with the company in question ever since 1998. At present, the total sum BCV has committed to business with this company amounts to USD 49 million.

This total amount comprises a variety of different transactions, and for each transaction the financing was provided against different sorts of collateral. These events are still quite recent, and at this point in time BCV is unable to determine exactly what its potential risks in this matter are. In light of the circumstances, BCV will take all necessary measures in order to safeguard its interests.

Lausanne, 8 May 2002

Contact(s)

Daniel Herrera, Head of Communications
Phone +41 844 228 228
E-mail