Banco Bradesco, Dresdner Bank and Manulife re-adopt Equator Principles

Amsterdam - 20 July 2006

In addition to the 33 financial institutions that already adopted the revised Equator Principles on July 6 (see press release on this site), three more financial institutions have adopted the revised framework in the meantime: Banco Bradesco, Dresdner Bank and Manulife. Moreover Unibanco explained its reasons for the re-adoption. All participating financial institutions commit to financing only those projects that comply with the revised Equator Principles, and commit to implementing these principles into business and risk management processes in a manner consistent with its organizational structure.

"This is yet another initiative of Banco Bradesco reinforcing its concerns with the environment and society as a whole."
- Milton Almicar Silva Vargas, Executive Vice President and Investor Relations Officer, Banco Bradesco S.A.

"Dresdner Bank is pleased to be a signatory of the revised Equator Principles. As an original supporter of the Equator Principles we have long believed it is essential for the environment as well as for our reputation that we seek to adopt best practice standards in project finance where ever we are involved. We intend to rigorously apply the new guidelines to our business and risk management policies, procedures and decisions. We are proud to be a collaborator bank in helping to advance the framework towards a more socially and environmentally sustainable future." - Dr. Armin Sandhoevel, Head Allianz Climate Core Group, Head Carbon Risk/Reputational Risk Dresdner Bank, Chairman UNEP FI Climate Change Group

"Unibanco is aware that the prosperity of its business pursuits is intrinsically dependent on the advancement of environmental stewardship and socially responsible development practices. We routinely analyze the implications of the balance between risk and social and environmental benefits in the bank's project finance ventures. This is the least we can do to fulfill our role in the country's sustainable development ." - Demosthenes Pinho, Head of the wholesale business, Unibanco