Moody’s Interfax rating agency assigned long-term national scale credit rating to Raiffeisenbank at Aaa (rus).

Moody’s Interfax Rating Agency has assigned the long-term national scale credit rating to Raiffeisenbank Austria at Aaa (rus) and the short-term rating at RUS-1.

The rating for Raiffeisenbank Austria is based largely on the support bythe parent bank Raiffeisen Zentralbank Oesterreich (Moody''s ratingA1/P-1/C+), including through a credit line to maintain liquidity. Therating reflects the Bank''s good market position, its famous name, andstatus as a foreign bank, which along with the large share of the parentbank in liabilities lends stability to the resource base, as well as thegood quality and diversification of the loan portfolio and highprofitability.

Michel Perhirin, Chairman of the Managing Board remarks, that“the fact of assigning the highest rating by Moody’s Interfax is a significant event which for sure underlines, first of all, stability and reliability of the Bank, and also accuracy of the strategy in Russia chosen by Raiffeisenbank and Raiffeisen Group as a whole. Raiffeisenbank highly appreciates the best rating assigning not only among financial institutions, but also companies. We are grateful to our clients and partners, coopertaion with whom let us get such a commendable rating. In our opinion, the very precedent of a bank getting the highest possible rating may be called remarkable for the banking system in Russia, since it firstly characterizes positive tendencies in the sector on the whole, transparency enhancement, namely what we are all aiming at.”

Raiffeisenbank is ranked 12th in terms of assets among Top Russian banksand 11th in terms of profitability based on H1 2004 results (CEAInterfax). Raiffeisenbank continues to sustain leading positions incorporate banking: the Bank is ranked 12th in terms of corporate lendingbased on H1 2004 results.

In 1999 Raiffeisenbank entered the retail banking market and now ranksamong Top 10 Russian retail banks. Raiffeisenbank is also the 4thlargest bank in Russia in terms of consumer lending and 8th in terms ofprivate deposits (CEA Interfax).

In 2004-2005 the Bank plans to expand its regional presence, addingbranches in 10 regional centres to already existing Branch inSaint-Petersburg, primarily in cities with large population. MichelPerhirin underlined that“regional presence expansion lets the Bank offer the full range of services to a wider circle of clients, and also helps to retain and strengthen cooperation with already existing ones.”

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. The Bank has been operating in Russia since 1996 as a universal bank with operations equally focused on commercial, retail and investment banking activities.

The Aaa (rus) long term rating on the Moody’s Interfax Rating Agency national scale signifies an exceptionally high level of creditworthiness compared to other borrowers/debt, but one that could deteriorate amid negative external conditions.

The short-term RUS-1 rating on the Moody’s Interfax Rating Agency national scale signifies an exceptionally high level of creditworthiness compared to other Russian borrowers/debt.

Moody''s Interfax Rating Agency specializes in credit risk analysis inRussia. Leading international rating agency, Moody''s Investors Service,bought a stake in the Interfax Rating Agency in November 2003 and, inJune 2004 increased its interest to controlling. The Interfaxinternational information group– the leading provider of political and business information from the emerging markets of Europe and Asia, is the other shareholder in Moody''s Interfax Rating Agency.