BLADEX WILL SELL ASSET MANAGEMENT UNIT TO ALPHA4X; NO TERMS

     (The following press release from Banco Latinoamericano de Comercio 
Exterior, S.A., was received by e-mail and was reformatted. The sender verified 
the statement.) 
FOR IMMEDIATE RELEASE
BLADEX IN DEFINITIVE AGREEMENT TO SELL ASSET MANAGEMENT UNIT                     
Panama City, Republic of Panama, April 2, 2013- 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 
Mejía-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 
www.bladex.com 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: cschech@bladex.com
-or-i-advize Corporate Communications, Inc., 20 Broad Street, 25th Floor, New York, 
NY 10005
Attention: Ms. Melanie Carpenter
Tel.: (212) 406-3692, E-mail: mcarpenter@i-advize.com 
(kgt)NY 
 
 
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