MIAMI, Aug. 12 /PRNewswire-FirstCall/ -- AR Growth Finance Corp. ("AR Growth") (Pink Sheets: ARGW) announced today that its subsidiaries have received final approval from the Argentine Government for its previously announced merger of its interests in certain pension companies. AR Growth is a U.S. holding corporation whose primary asset is its 95% interest in ProBenefit, S.A. ("ProBenefit"). ProBenefit is an Argentine-based holding company comprised of pension and life insurance companies as well as a consumer credit card company. The approved transaction consists of the merger of the pension companies: Unidos S.A. AFJP with AFJP Prorenta S.A. As a result of this merger, ProBenefit now owns approximately 60% of the combined pension companies. The pension-related company will now have approximately $800 million in assets under management. Further, it will now provide its financial services through 50 offices to over 500,000 clients across Argentina. Kevin Fitzgerald, Chief Executive Officer and Director of AR Growth, commented, "We are very happy that the governmental approval process for our previously announced merger of the pension companies has been completed. This now allows us to begin to realize the operational synergies we have already identified." Oscar Cerutti, a Director of AR Growth, also commented, "We have spent the last several months working out the specifics of all cost savings that could be realized with the merger. We will now move forward quickly and realize the full potential of the new pension company." About AR Growth Finance Corp. AR Growth Finance Corp. is a Delaware corporation established in 2007 to invest in finance-related companies in Argentina and ultimately throughout South America. Its principal shareholders are US and Argentine financial institutions, and its acquisition of 95% of ProBenefit was announced on February 27, 2008. Forward-Looking Statements This press release contains, or may contain, forward-looking statements, such as statements regarding the growth and growth strategy in the industry in which AR Growth operates. The forward-looking statements contained in this press release are subject to other risks and uncertainties. AR Growth assumes no obligations to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect. Contact: Allen & Caron Rudy Barrio (investors) Brian Kennedy (media) 212-691-8087 AR Growth Finance Corp. Kevin Fitzgerald, Chief Executive Officer 305-446-4800 DATASOURCE: AR Growth Finance Corp. CONTACT: Investors, Rudy Barrio, , Media, Brian Kennedy, , both of Allen & Caron, +1-212-691-8087, for AR Growth Finance Corp.; or Kevin Fitzgerald, Chief Executive Officer of AR Growth Finance Corp., +1-305-446-4800

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