Banorte Money Market - Directorate etc

RNS Number:3202M
Banorte Money Market Fund
22 January 2008

STOCK EXCHANGE ANNOUNCEMENT

For Immediate Release
22 January, 2008

Banorte Money Market Fund plc

Re: Change in Auditor and Appointment of Directors

The Directors of Banorte Money Market Fund plc (the "Fund") wish to announce
that KPMG have replaced PricewaterhouseCoopers as Auditor of the Fund, with
effect from 26 November, 2007.

The Directors of the Fund also wish to announce the appointment of Mr Leandro
Martino and Mr Arnoldo Porras as Directors of the Fund, with effect from 16
January, 2008.

Mr Leandro Martino

Leandro Martino is Senior Vice President at Banorte Securities, which is part of
Grupo Financiero Banorte, a Forbes Global 1000 company, and has over 15 years of
international experience in the financial industry. Mr. Martino joined Banorte
Securites in August 2003, and he is currently in charge of the Onshore unit and
also collaborates with the Offshore unit. Before joining Banorte Securities, Mr.
Martino received an MBA with honors from Columbia University in New York, where
he studied from January 2002 to August 2003. Prior to this Mr. Martino was
Managing Director of ATG Ventures, a venture capital and private equity fund,
from December 2000 to March 2002. Mr. Martino founded LatinStocks in 1998, a
leading Latin American financial platform owned by AOL Time Warner and Exxel
Group, and remained with LatinStocks until February 2000, where he took a short
break before joining ATG Ventures. Mr. Martino also is a graduate of Harvard
University and holds two master's degrees from international universities."

Mr Arnoldo Porras

Arnoldo Porras is a Vice President at Banorte Securities International, which is
part of Grupo Financiero Banorte. Mr. Porras, with more than 9 years of
experience in the financial industry, joined Banorte Securities in September of
2006 as a trader of the international wealth management group. Since his arrival
to Banorte Securities, Mr. Porras has been serving as Investment Manager of the
Banorte Money Market Fund Plc. Before joining Banorte Securities, Mr. Porras
took a career break from August 2005 to September 2006, after being involved in
private business activities between December 2004 and July 2005. From June 2002
to December 2004, Mr. Porras worked as Vice President of Banco Santander
International Private Banking (previously Coutts USA International), in Miami,
Florida, managing private banking accounts for Mexican clients. From August 1999
to April 2001, Mr. Porras worked as an Associate for Credit Suisse First Boston
(previously Donaldson, Lufkin and Jenrette) in Miami, Florida, developing the
Mexican wealth management business. Before joining Donaldson, Lufkin and
Jenrette, Mr. Porras received a Master of International Management from
Thunderbird, School of Global Management, where he attended from August 1997 to
May 1999. Mr. Porras also holds a Bachelors Degree in Economics from the
Instituto Tecnologico Autonomo de Mexico in Mexico City."

Leandro Martino and Arnoldo Porras have never:

(i) had any unspent convictions in relation to indictable offences; or

(ii) been bankrupt or the subject of a voluntary arrangement, or has had
a receiver appointed to any of his assets; or

(iii) been a director of any company which, while they were a director
with an executive function or within 12 months after they ceased to be a
director with an executive function, had a receiver appointed or went into
compulsory liquidation, creditors voluntary liquidation, administration or
company voluntary arrangements, or made any composition or arrangements with its
creditors generally or with any class of its creditors; or

(iv) been a partner of any partnership, which while they were a partner
or within 12 months after they ceased to be a partner, went into compulsory
liquidation, administration or partnership voluntary arrangement, or had a
receiver appointed to any partnership asset;

(v) had any public criticism by statutory or regulatory authorities
(including recognised professional bodies); or

(vi) been disqualified by a court from acting as a director or from
acting in the management or conduct of affairs of any company.

Neither Mr Leandro Martino or Mr Arnoldo Porras have any previous/current
directorships or partnerships to report.

Enquiries:

Dillon Eustace Orla O'Brien +353 1 668 0022
Davy Niamh Byrne +353 1 614 8933

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.

This information is provided by RNS
The company news service from the London Stock Exchange
END

ISEQLLFLVFBXBBE