IRF Irf European Finance Investments Ltd

RNS Number:7467T
IRF European Fin Investments Ltd
06 May 2008




IRF European Finance Investments Ltd

6 May 2008



         IRF European Finance Investments Ltd. ('IRF' or the 'Company')

           IRF increases its stake in Marfin Investment Group ("MIG")


IRF is pleased to announce that it has acquired a further 21,437,943 ordinary
shares in MIG, an investment holding company listed on the Athens Stock
Exchange, for approximately EUR 121.4 million in cash. The consideration was
funded entirely from the Company's existing cash resources. The average purchase
price per share was approximately EUR 5.66, representing a discount of
approximately 3.45% to the EUR 5.86 closing price on 5 May 2008.  Including this
acquisition, IRF now holds 30,104,233 ordinary shares in MIG which represent
approximately 3.63% of the issued share capital of MIG.


These investments are in line with the Company's investment strategy as approved
by shareholders at the Company's recent AGM on 31 March 2008. The Company
believes that such investments should enable the Company to build value for its
shareholders.


MIG invests in private equity, privatisations and infrastructure projects and
principally operates in Greece, Cyprus and South East Europe. It has a market
capitalisation of approximately EUR 4.86 billion; in the financial year ended 31
December 2007, MIG had assets of EUR 6.87 billion and made a post tax profit of
EUR 330.4 million.



For further information:



IRF European Finance Investments Ltd
Angeliki Frangou, Chairperson               Tel: +30 (0) 210 428 0560


Numis Securities Limited
Jagjit Mundi                                Tel: +44 20 7260 1000
Nick Westlake



About IRF



IRF was formed to invest in the financial services industry throughout Europe.
IRF's current strategy is to seek investment opportunities in the financial
sector in Europe with a primary focus in South East Europe financial
institutions, investment funds and insurance companies. These investment
opportunities may include control or non-control positions in both public and
private entities.



IRF already owns a 20.6% interest in Proton Bank S.A. ('Proton').  Proton is a
full service financial services institution, including retail and investment
banking as well the provision of specialized corporate advisory and investment
services.  Proton is listed on the Athens Shares Exchange under the symbol
'PRO'. For more information about Proton, please see www.proton.gr.










                      This information is provided by RNS
            The company news service from the London Stock Exchange
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