The J&T Group is proud to announce the completion of another step in their banking strategy by acquiring Bayshore Bank & Trust (Barbados) Corporation (Bayshore), a leading private bank in the Caribbean. The Group is building an international bank network that will combine the high value service traditions of niche private banks with the investment depth of a world class major financial institution. The local banks will provide the customized structuring strategies while the global entity will use its negotiating strength to source and execute the best investment solutions for each individual client situation.

The acquisition of Bayshore is a strategic investment in the area of wealth management and private banking. Bayshore provides banking and wealth management services to ultra-high net worth individuals and corporations from around the world. It has a well developed operating structure, with valuable clientele and top-tier management. “We find strong synergies in the area of asset administration and asset management between the various markets where J&T Group is operating. By acquiring Bayshore, J&T sets the stage for further expansion to new markets in the Caribbean” says Raduz Motan, a Senior Partner of the J&T Group.

This move adds the Caribbean to the growing list of locations served by J&T. The Group acquired its first bank licence in in the Czech Republic in 1998, followed by Switzerland, which the Group entered by purchasing IBI Bank in 2005, Slovakia, where J&T BANK opened its branch in March 2006, and Russia, where J&T recently acquired the Moscow bank Tretiy Rim renamed to J&T BANK.

Mr. John P. Bujouves, Chairman of Bayshore, recognized J&T as an excellent partner to help expand international operations. “It is a group with a developed infrastructure and strong vision, which it fulfills thanks to its high-quality management”. Mr Bujouves goes on to state, “There is a very strong fit with our respective approach to service and business discipline. We also share similar philosophies on investment styles, which includes objective sourcing of the world’s top-class investments. Bayshore itself has been growing rapidly over the past several years, most significantly with its acquisition and integration of CIBC's Trust business in Barbados and Private Counsel Trust in The Turks & Caicos.”

J&T Group shareholders are very excited to add Bayshore clients and staff to the growing organization.

About J&T: one of the most significant and most quickly developing groups in the territory of former Czechoslovakia with the total value of assets about EUR 4 billion. Main areas of business of the Group include private banking, investment banking, real estate development and power engineering. The banking group currently includes J&T BANK Prague, J&T BANK Bratislava, IBI Bank in Zurich and J&T BANK Moscow. In real estate development, J&T is a leader in the Slovak market and develops activities also in the Czech Republic, Russian Federation, countries of Central Europe and in the Caribbean. The volume of investments, which are planned by J&T to be executed within the framework of real estate development in the following five years, reaches EUR 3.75 billion. More at www.jtfg.com