Strategic Partner for Seylan Bank

In response to the invitation of Expressions of Interest (EOI) by the Central Bank of Sri Lanka to further strengthen the capital, management and operations of the Seylan Bank PLC, six prospective investors have submitted their EOIs to be a strategic partner of Seylan Bank PLC.

These prospective investors comprise four financial institutions and two other non financial establishments. The Committee for Evaluation of EOIs is currently in the process of evaluating the EOIs to identify prospective bidders.

All those who submitted EOIs will be notified of the outcome of their applications by April 24, 2009.

Thereafter, an Information Memorandum on Seylan Bank PLC will be provided to the identified prospective bidders to perform the due diligence on the bank and submit their bids, in keeping with the time table set for this purpose.