Oriental Financial Group Announces the 4.39M Share Offering of Common Stock

Oriental Financial Group

today announced the commencement of an underwritten public offering of 4,390,243 shares of its common stock. In addition, Oriental expects to grant the underwriters a 30-day option to purchase up to 439,024 additional shares of its common stock. Jefferies & Company, Inc. will serve as the sole book-running manager for the offering. Keefe, Bruyette & Woods, Inc. will serve as lead manager and Oriental Financial Services Corp. will serve as co-manager. Oriental intends to use the net proceeds from the common stock offering to fund a portion of the purchase price for its previously announced acquisition of the Puerto Rico based operations of Banco Bilbao Vizcaya Argentaria, S.A.

, announced on June 28, 2012. The closing of the common stock offering is not conditioned upon the closing of the acquisition. This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Oriental, nor shall there be any offer or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common stock offering will be made only by means of a prospectus. A registration statement relating to the common stock offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Prospective investors should read the registration statement and other documents Oriental has filed and will file with the SEC for more complete information about Oriental and the common stock offering.