Paris, 19 July 1999

EURO1 Membership increase

The EBA Clearing Company, operator of the largest cross border euro payments system in terms of daily transactions, today announced that Banca Popolare di Verona and Westdeutsche Landesbank Girozentrale (WestLB) have joined EURO1 increasing the total number of clearing banks to 66. It is expected that another six banks will join the EURO1 system later this year.

Willy Scheerlinck, Chairman of the EBA Clearing Company, said: "We are delighted to announce that these two banks have joined EURO1. In the last six months we have seen the steady growth of membership and we look forward to welcoming more members later this year."

Gilbert Lichter, CEO of the EBA Clearing Company said: "A continuous increase of participants in EURO1 confirms its attractiveness as the major European-wide commercial payment system."

Günther Theyssen, Head of Payments Clearing WestLB, commented: "The active participation in the EBA Euro Clearing System allows WestLB to further enhance its service capabilities towards its own branches and subsidiaries, foreign correspondents, and in particular as service provider towards its network of savings banks."