Banro Receives Receipt for Final Short Form Prospectus

Banro Corporation BAA announces that it has received a receipt or deemed receipt, as applicable, for its short form prospectus dated March 25, 2011 from each of the Ontario Securities Commission, the British Columbia Securities Commission and the Alberta Securities Commission. The Prospectus qualifies for distribution, among other things, 17,500,000 common shares of Banro issuable upon exercise or deemed exercise of outstanding special warrants of Banro which were issued on February 24, 2011, as disclosed in Banro's press release dated February 24, 2011. Pursuant to the special warrant indenture governing the Special Warrants, any unexercised Special Warrants will be deemed to be exercised without any further action on the part of the holders of such Special Warrants on March 31, 2011.