Raiffeisenbank offers to private customers to become Participants ofIndividual Pension Plans of Non-State Pension Fund Raiffeisen.

Starting 19 October, 2004 Raiffeisenbank Austria, ZAO offers to privatecustomers to become Participants of Individual Pension Plans ofNon-State Pension Fund Raiffeisen.

A non-state pension provision agreement with NPF Raiffeisen can beconcluded in any branch of Raiffeisenbank in Moscow. This agreement alsoallows transferring pension contributions to the individual accounts inone’s own benefit or the benefit of third parties.

The Fund makes pension payments in case of reaching retirement age or incase of having any other pension grounds provided in the Russianlegislation. The size of payments depends on the funds on the individualaccounts and pension scheme chosen.

Raiffeisenbank Austria, ZAO is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International). Raiffeisen International,100per cent owned by Raiffeisen Zentralbank Oesterreich AG (RZB-Austria),is the holding company for RZB’s most important subsidiaries in Central and Eastern Europe (CEE). RZB-Austria is the central institution of the Austrian Raiffeisen Banking Group, the country''s most powerful banking group. Moody''s Interfax Rating Agency assigned Raiffeisenbank Austria, ZAO a long-term credit rating Aaa and short term credit rating Rus -1, being the top rank of stability according to the national rank.

NPF Raiffeisen provides voluntary non-state pension provision programmesfor individual and corporate clients. It is also registered as insurerof mandatory pension insurance (2nd pillar). Raiffeisenbank Austria, ZAOis the sole founder member of the Fund.

NPF Raiffeisen customer base counts more than 21 000 as of 19 October2004. More than 300 clients receive additional non-state pension. InSeptember 2004 more then 1100 individuals transferred their laborpension accumulative part from Russian Pension Fund to NPF Raiffeisen.