Financiera Independencia Announces Results of Rights Offering Process

MEXICO CITY, May 21 /PRNewswire-FirstCall/ -- Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (BMV: FINDEP) ("Independencia" or the "Company"), a leading Mexican microfinance lender of personal loans to lower income segment individuals, announced that on May 20, 2010 it has completed the rights offering process of the 55,000,000 share capital increase approved on the Shareholders' Meeting of April 27, 2010.  A total of 884,712 shares were subscribed at the issue Price of Ps.13.50 per share. The remaining 54,115,288 shares that were not subscribed have been retained by the Board of Directors.  Today the Board determined that 45,000,000 shares will be kept in the treasury of the Company to be subscribed by Eton Park in the event it exercises its subscription right. As announced on December 18, 2009 as part of its investment in Financiera Independencia, Eton Park received the right to subscribe an additional 45 million shares, 20 million shares at a price of Ps.13.50 per share and 25 million shares at a price of Ps.14.00 per share. In the event that Eton Park exercises in full this right, the Company would receive Ps.620 million in additional capital and Eton Park would increase its share interest from 9.3% to approximately 14.7%.  In addition, the Board determined that the remaining 9,115,228 shares that were not subscribed will be cancelled.  As a result of the Rights Offering Process the number of shares outstanding will be 715,884,712 shares.

About Financiera Independencia:

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (Independencia), is a Mexican microfinance lender of personal loans to individuals and working capital loans through group lending microfinance. Independencia provides microcredit loans on an unsecured basis to individuals in the low-income segments in Mexico in urban areas of both the formal and informal economy. As of March 31, 2010, Independencia had a total outstanding loan balance of Ps.5,403.6 million, operated 369 offices in Mexico and Brazil and had a total labor force of 11,460 people. The Company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP". On November 30, 2009 Independencia launched a sponsored Level I American Depositary Receipt (ADR) program in the United States. Each ADR represents 15 shares of Independencia common stock and trades over-the-counter (OTC). More information can be found at www.independencia.com.mx

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in Financiera Independencia's filings with the Mexican Stock Exchange. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

SOURCE Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.

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