SOURCE: Corp Banca

March 09, 2007 16:05 ET

Corpbanca Launches New Subsidiary

SANTIAGO, CHILE -- (MARKET WIRE) -- March 9, 2007 -- Corpbanca (NYSE: BCA), a Chilean financial institution offering a wide variety of corporate and retail financial products and services across all segments of the Chilean financial market, announces the creation of a new subsidiary, Corplegal S.A. Corpbanca will hold a 99.99 percent ownership interest in the new subsidiary. Corplegal S.A. will exclusively address all legal advisory services required by Corpbanca, its subsidiaries and/or their clients.

The Chilean Superintendency of Banks and Financial Institutions granted authorization for the creation of Corplegal S.A. on January 26, 2007, pursuant to resolution No. 01092.

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