Banco Terra Appoints New Ceo

PRESS RELEASE Banco Terra appoints new CEO Banco Terra is pleased to announce that it has hired Maarten J.K. Susan for the CEO position at the bank (subject to regulatory confirmation). Mr. Susan (46) is a Dutch national and has diverse experience in senior management positions, both inside and outside the banking industry. Earlier assignments included positions in Asia Pacific, Canada, Latin America and Europe. Arnold Kuijpers, Chairman of Banco Terra said, “We are excited by the prospect of Maarten joining our organization, and are comfortable that he will substantially contribute to the success of Banco Terra during the next three years”. It is expected that Mr. Susan will take up his position as per June 1st 2008. Maputo, April 23rd, 2008

FOR ADDITIONAL INFORMATION CONTACT:

Rien van Eck:

Mobile: +258 82 304 0168 or +258 21 359 900, Email: [email protected]

www.bancoterra.co.mz

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