Acquisition

RNS Number:1722T
IRF European Fin Investments Ltd
25 April 2008

IRF European Finance Investments Ltd

25 April 2008



         IRF European Finance Investments Ltd. ('IRF' or the 'Company')



            IRF acquires a stake in Marfin Investment Group ("MIG")



IRF is pleased to announce that is has acquired 8,666,290 ordinary shares in
MIG, an investment holding company listed on the Athens Stock Exchange, for
approximately EUR 40.9 million in cash. The consideration was funded entirely
from the Company's existing cash resources. The average purchase price per share
was approximately EUR 4.72, representing a discount of approximately 8.9% to the
EUR 5.18 closing price on 24 April 2008. These shares represent approximately
1.04% of the issued share capital of MIG. This investment is in line with the
Company's investment strategy as approved by shareholders at the Company's
recent AGM on 31 March 2008. The Company believes that such investment should
enable the Company to build value for IRF's shareholders.



MIG invests in private equity, privatisations and infrastructure projects and
principally operates in Greece, Cyprus and South East Europe. It has a market
capitalisation of approximately EUR 4.32 billion; in the financial year ended 31
December 2007, MIG had assets of EUR 6.87 billion and made a post tax profit of
EUR 330.4 million.



For further information:



IRF European Finance Investments Ltd

Angeliki Frangou, Chairperson                        Tel: [phone]



Numis Securities Limited

Jagjit Mundi                                         Tel: [phone]

Nick Westlake




About IRF



IRF was formed to invest in the financial services industry throughout Europe.
IRF's current strategy is to seek investment opportunities in the financial
sector in Europe with a primary focus in South East Europe financial
institutions, investment funds and insurance companies. These investment
opportunities may include control or non-control positions in both public and
private entities.



IRF already owns a 20.6% interest in Proton Bank S.A. ('Proton').  Proton is a
full service financial services institution, including retail and investment
banking as well the provision of specialized corporate advisory and investment
services.  Proton is listed on the Athens Shares Exchange under the symbol
'PRO'. For more information about Proton, please see www.proton.gr.










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