15th March 2008

Joint Stock Commercial Bank 'Bank of Moscow' (Open Joint Stock Company) ("Bank of Moscow") has mandated ABN AMRO Bank N.V. ("ABN AMRO"), Deutsche Bank AG, London Branch ("Deutsche Bank"), Emirates NBD and Raiffeisen Zentralbank Österreich AG ("RZB") (Together the "Mandated Lead Arrangers" and "Bookrunners") to arrange a US$ 150,000,000 Syndicated Term Loan facility to support its trade finance and general corporate funding requirements. The facility has a tenor of 18 months and carries a margin of 65 basis points over LIBOR. Syndication of the facility will focus on investors from Middle East and Asia.
The syndication was launched on the 11th of March 2008. Potential investors have been invited to participate in the transaction at one of the following levels.

About Bank of Moscow:

The Bank of Moscow was established in 1995 at the initiative of the Government of the City of Moscow as an open joint-stock company. The Moscow Government and its related entities directly own a 43.999 % share in the Bank's equity. The indirect stake is held through the Moscow Insurance Company, 100% owned by the Capital Insurance Group, which in its turn is controlled by the City of Moscow together with the Bank of Moscow Group.

Bank of Moscow is the 4th largest bank in Russia with total assets of RUB 453 Billion (US$ 17.50 Billion approx) and total capital of RUB 62.694 Billion (US$ 2.42 Billion) as at 30th June 2007 (According to IFRS). The bank is rated BBB with stable outlook by Fitch and Baa2 with stable outlook by Moody's.
The Bank provides a wide range of services to its clients including corporate banking, retail banking and investment banking services. In addition to 118 offices and sub-offices in Moscow and the Moscow region, the bank operates 61 full-service regional branches. The total number of the bank's different points of sale throughout the country was 362 as of the end of 2007. The branch network covers all 11 time zones of Russia practically in all economically significant regions of The Russian Federation from St Petersburg and Kaliningrad in the West to Vladivostok, Yuzhno-Sakhalinsk and Petropavlovsk-Kamchatsky in the East.

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Reported by: Claire Andrea (Corporate Communications)
Reported on: 16/03/2008