Bladex in Definitive Agreement to Sell Asset Management Unit to XL Subsidiary

Banco Latinoamericano de Comercio Exterior, S.A.

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

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