Banco Macro Announces Share Buy Back

BUENOS AIRES, Argentina, Sept. 15, 2011 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; Buenos Aires Stock Exchange: BMA) ("Banco Macro") has submitted to the Comision Nacional de Valores and the Bolsa de Comercio de Buenos Aires the following communication announcing the decision of the Board of Directors for the acquisition of its own shares.

Dear Sirs,

In my capacity as attorney-in-fact of Banco Macro S.A. (the "Bank"), and in compliance with Section 2 of Chapter XXI, Book 6 of the General Resolution No. 368 (Rev. 2001) issued by the CNV, I hereby inform the Comision Nacional de Valores (the "CNV") that the Board of Directors of the Bank decided to establish the terms and conditions for the acquisition of its own shares issued by the Bank under the provisions of Section 68 of Act No. 17811 (incorporated by Decree 677/2001) and the rules of the CNV.

The above mentioned decision was driven by the current international macroeconomic context and the fluctuations experienced by the capital markets following the decline in international market prices, triggered by the European tax crisis and the downgrading of the U.S. sovereign debt, which had a strong impact on local share prices, including the Bank's shares listing price.

Likewise, the Board of Directors of the Bank has considered the entity's equity strength, as evidenced by an Adjusted Stockholders' Equity (Responsabilidad Patrimonial Computable) of 100.9% in excess of the requirements of the Central Bank of the Republic of Argentina, and the price/income ratio resulting from the Bank's share price and the results currently reported by it.

In that respect, and in line with the commitment the Board of Directors of the Bank with the Bank and its shareholders, and in order to contribute to the reduction of price fluctuations and to minimize any possible temporary imbalances that may arise between supply and demand in the market, the Board of Directors has decided to establish the following terms and conditions for the acquisition of the Bank's own shares issued by such entity:

1. Maximum Amount of Investment: up to 200,000,000 Argentine Pesos.
2. Maximum number of shares to be acquired: up to 20,000,000 Class B common book-entry shares of par value AR$ 1 (one Argentine Peso) per share and entitled to 1 (one) vote each (hereinafter referred to as the "Shares"), which amount is within the Bank's 10% capital stock limit established by applicable provisions.
3. Maximum price to be paid for the Shares: up to AR$ 10.00 per Share.
4. Term for the acquisition of Shares: 90 calendar days from the date immediately following the day in which this information is published in the Official Gazette of the Buenos Aires Stock Exchange, this term could be renewed or extended by the Board of Directors and this situation shall be informed to the investors through the same means.

Do not hesitate to contact me for additional information, clarifications or should you have any further questions on the above.

This press release is available under the "Financial Information" section, or, in the Spanish version under "Informacion Financiera", of Banco Macro's web site: www.macro.com.ar. This press release includes statements concerning potential future events involving Banco Macro that could differ materially from the events that actually occur. The differences could be caused by a number of risks, uncertainties and factors relating to Banco Macro's business. Banco Macro will not update any forward-looking statements made in this press release to reflect future events or developments.

Contact for Investors: Jorge F. Scarinci,
Finance and IR Manager
Phone: (5411) 5222 6730
Fax: (5411) 5222 7826
[email protected]
www.macro.com.ar

SOURCE Banco Macro S.A.