Statement of Michel Perhirin, Chairman of the Managing Board,Raiffeisenbank Austria, ZAO.

«I very much regret the appearance of the article on RosBusinessConsulting website. The article dwells on possible problems that Raiffeisenbank may encounter with regard to the admittance to the Depositors’ Insurance System. Referring to the facts, stated in this article, I consider it necessary to announce the following.

Raiffeisenbank submitted application to the Central Bank of Russia toqualify for the Depositors’ Insurance Scheme on May 12th, 2004. The Bank also underwent a complete chack-up of the Central Bank of Russia.

No decision regarding including or not including Raiffeisenbank to theDepositors’ Insurance System has been taken yet. We expect, that Committee of Banks Supervision will deliver this decision in due time.

As of 31st of August 2004 Raiffeisenbank fully complies with the CentralBank’s requirements to banks eligible for entering the Depositors’ Insurance System. Furthermore Raiffeisenbank Austria, ZAO has got a stand-by credit facility from mother-bank Raiffeisen Zentralbank Osterreich, covering our liabilities to private clients in the amount ofEUR 400 million.»

related articles:

01.09.2004 - IA Reuters

02.09.204 - Kommersant newspaper

... First Deputy Chairman of the Central Bank of Russia, Andrei Kozlov,said:“This is misinformation. I do not want to use words like “provocation”. However, may be that’s the case.”

02.09.2004 - Vedomosti newspaper

"Information about problems that Raiffeisenbank may encounter ismisinformation,” said Andrei Kozlov, First Deputy Chairman of the Central Bank Russia.