The extraordinary General Meeting of the Shareholders (EGM) of the Bulgarian-American Credit Bank (BACB), held on March 7th, 2011, approved the following decisions, which represent inside information pursuant to Art. 4 of the Law against market abuses with financial instruments and Ordinance 2/2003 of the Financial Supervision Commission:

1. The General Meeting of the Shareholders took a decision the subject of activity of BACB to be amended and supplemented to cover all and any activities included in art. 2, par. (2) of the Credit Institutions Act (CIA), namely:(1) BACB to perform all and any payment services in the meaning of the Payment Services and Payment Systems Act (PSPSA) (art. 2, par. (2), item. 1 of the CIA and art. 4 of the PSPSA), including issuance of bank payment cards (debit and credit) and electronic money, as well as execution of payment transactions via bank payment cards or other similar instruments (art. 4,item  4, (b) of the PSPSA);(2) BACB to issue electronic money (art. 2, par.(2), item. 13 of the CIA and Section V of the PSPSA);(3) BACB to lend safe- deposit boxes (art. 2, par (2), item. 15 of the PSPSA).

2. The General Meeting of the Shareholders took a decision the registered address of BACB to be changed from “Sofia 1504, Sofia Municipality Sredetz, 16 Krakra Street” to “Sofia 1000, Sofia Municipality, Sredetz, 2 Slavyanska Street”.

3. In relation to the adopted decisions for amendments to the subject of activity of the Bank and for change of the registered address of BACB, the General Meeting of the Shareholders took a decision for amendments to the BACB By-laws, reflecting the changes in the subject of activity and the new registered address.

4. The General Meeting of the Shareholders appointed Mr. Svetoslav Georgiev Karaneshev to the position of Head of the Internal Audit Unit of BACB.

5. The General Meeting of the Shareholders took a decision for changes in the members of the Supervisory Board of BACB as follows:

-         RELIEVES Mr. Marshall Lee Miller as a member of the Supervisory Board.

The approved changes in the subject of activity, the registered address and the respective changes in the By-laws are subject to entry into the Commercial register subject to the prior approval of the Bulgarian National Bank. BACB shall undertake the necessary steps for receiving the required regulatory approvals related to these decisions.

The minutes from the General Meeting of the Shareholders of BACB held on March 7, 2012 shall be presented to the Financial Supervision Commission, the Bulgarian Stock Exchange and the public within the deadline prescribed by the law.