Press Release

The Board of the Fondo de Ahorro de Panama Elects New Chairman and Vice Chairman
Panama | November 18, 2016

The Board of Directors of the Fondo de Ahorro de Panama (the “Fund”) announced that in its regular meeting on November 17, 2016, resolved to elect José N. Abbo and Anamae Maduro de Ardito Barletta as Chairman and Vice Chairman of the Board, respectively, to become effective December 14, 2016.

Mr. Abbo, a financial advisor and author of international financial and economic publications, has served as a Director since 2012, and as Vice Chairman of the Board since that year. Mrs. Maduro has more than 15 years of professional experience in the banking and financial sector and has served as Director of the Fund since 2016. "I am honored to be elected as Chairman on Fund's Board of Directors, and I hope to work together with the rest of the Directors and the new Vice Chairman for the benefit of the Fund," expressed Mr. Abbo.

The Chairman and Vice Chairman roles are for a period of two years.

About the Fondo de Ahorro de Panama

The Fund was created by Law 38 of June 5, 2012, whose main objectives are:

1. Establish a long-term savings mechanism for the Panamanian State; and
2. Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.

Contact: Administration, +507-394-5776/5706, administrador@fondoahorropanama.com

For additional information visit www.fondoahorropanama.com

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