OREANDA-NEWS. September 30, 2008. URSA Bank announced a debt repurchase programme for the Loan Participation Notes.

URSA Bank announced today that it has authorised a debt repurchase programme pursuant to which the Bank may from time to time repurchase (through open market purchases or private transactions) up to all of the outstanding 10.5 Per Cent. Loan Participation Notes due September 2009  issued by URSA Finance Plc (formerly known as Sibacademfinance plc) for the sole purpose of funding a loan to URSA Bank (of which approximately HUF 4,500 million in principal is currently outstanding).

Mr. John McNaughton, Managing Director of URSA Bank, comments that this buy-back program, along with the earlier-announced May 2009 eurobond buyback program, is a solid testament to the Bank's comfortable liquidity position in the current market conditions, and further reinforces the Bank's reputation as a prudently-managed and investor-friendly financial institution.