Bladex in Definitive Agreement to Sell Asset Management Unit

         Bladex in Definitive Agreement to Sell Asset Management Unit

PR Newswire

PANAMA CITY, April 2, 2013

PANAMA CITY, April 2, 2013 /PRNewswire/ -- Banco Latinoamericano de Comercio
Exterior, S.A. (NYSE: BLX, "Bladex", the "Bank") announced today that it has
finalized a definitive agreement for the sale of its asset management unit.

The asset management unit will be sold to Alpha4X Asset Management, LLC
("Alpha4X"), a newly-formed company that is majority owned by the current
asset management team, led by the unit's current Chief Investment Officer,
Manuel Mejia-Aoun. A subsidiary of XL Group plc (NYSE: XL) will acquire a
minority equity stake in Alpha4X as part of the sale.

In 2006, Bladex seeded the asset management unit's flagship fund with an
investment of $100 million. Bladex will continue in its role as anchor
investor of the flagship fund for a period of up to 3 years, with a reduced
investment amount, and will also enjoy certain revenue-sharing rights. As
part of the agreement, an XL subsidiary will also become an anchor investor in
the unit's flagship investment fund.

The sale of the unit is expected to close in the second quarter of 2013.

Bladex's Chief Executive Officer, Rubens V. Amaral Jr., commented on the
announcement: "We have built a first rate asset management unit that has
generated attractive returns since its inception in 2006. We are very pleased
to have found in XL a very large and sophisticated investor to support Manuel
and his team as they further build on their successful track record. We will
be able to add to Bladex's fee income through our ongoing revenue
participation in Alpha4X's activities over the next three years, as we
complete our exit from this line of business while Alpha4X continues to grow."

Bladex is a supranational bank originally established by the central banks of
Latin American and Caribbean countries to promote trade finance in the Region.
Based in Panama, its shareholders include central and state-owned entities in
23 countries of the Region, as well as Latin American and international
commercial banks, and institutional and retail investors. 

XL Group plc, through its subsidiaries, is a global insurance and reinsurance
company that provides property, casualty, and specialty products to
industrial, commercial, and professional firms, insurance companies, and other
enterprises throughout the world.

For further information, please access Bladex's website on the Internet at or contact: 

Bladex, Head Office, Torre V., Business Park, Avenida La Rotonda, Urb. Costa
del Este,
Panama, Republic of Panama
Attention: Mr. Christopher Schech, Chief Financial Officer
Tel.: (507) 210-8630, E-mail:
i-advize Corporate Communications, Inc., 20 Broad Street, 25th Floor, New
York, NY 10005
Attention: Ms. Melanie Carpenter
Tel.: (212) 406-3692, E-mail:

SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)

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