Financiera Independencia Announces Increase In Line of Credit with Nafinsa from Ps.140 million to Ps.1,000 million

MEXICO CITY, May 28 /PRNewswire/ -- Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (BMV: FINDEP) ("Independencia"), announced today that Nacional Financiera, S.N.C. increased its line of credit to Independencia from Ps.140 million to Ps.1,000 million. The initial line of credit was granted on February 2009.

Mr. Noel Gonzalez, Chief Executive Officer, commented: "We are very pleased that in this tight credit environment we continue to increase our funding while diversifying our risk. This brings us one step closer in achieving our goal of diversifying funding sources in the medium term so that no single source represents more than 25% of the company's debt."

From the Ps.1,000 million line of credit, Ps.750 million will be used to fund microloans to the informal market through the CrediPopular and Credimama products while the remaining Ps.250 million is for a partial guarantee in a potential future debt issuance. The line of credit carries an interest rate of TIIE plus 300 basis points and has an evergreen feature. Any borrowings have to be repaid within six months of drawdown.

Including the increase in the line of credit from Nafinsa, Independencia's total available lines of credit amount to Ps.3,850 million. Of the total lines of credit, Ps.600 million are due September 2009, Ps.2,500 million in September 2011 and the remaining Ps.750.0 million has an evergreen feature. In addition, on June 2008 the company issued Ps.784 million in medium-term notes "Certificados Bursatiles" with a 3-year maturity (which are part of the Ps.1,500.0 million program already registered at the Bolsa Mexicana de Valores).

As of March 31, 2009, and assuming the line of credit with Nafinsa had been drawn down in its entirety, Independencia's reliance on its main source of funding (HSBC) would have declined to 46.8% from 63.6% of total funding.

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. 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, 2009, Independencia had a total outstanding loan balance of Ps.4,443.4 million, operated 197 offices in 143 cities throughout 31 of Mexico's 32 federal entities and had a total labor force of 9,212 people. The company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP". More information can be found at http://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.

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

CONTACT: In Mexico, Vicente Gutierrez of Financiera Independencia,
[phone], [e-mail]; or In the US, Susan
Borinelli of Breakstone Group, [phone], [phone],
[e-mail]

Web Site: http://www.independencia.com.mx/