Raiffeisenbank and Its Employees Nominated the Best on the RussianBond Market.

Raiffeisenbank and Its Employees Nominated the Best on theRussian Bond Market.

July 15th, 2004 the self-regulatory organization ProfessionalInstitute for Bond Stock Placement and Circulation (SRO"PROFI") announced the results of the polling"Professionals on the Bond Securities Placement Market in2003".

The winners of the polling were chosen by the Russian bondmarket professionals who took part in bond placements as arrangers,underwriters and financial consultants in 2003.

Raiffeisenbank`s representatives Pavel Gourine (Member of theManaging Board, Head of Corporate Finance& Investment BankingDivision) and Roman Zilber (Deputy Head of Corporate Finance andInvestment Banking Division) were titled the best professionalmanagers in bond placement market and took the first and secondplaces in this nomination accordingly.

The Bank is also nominated the 3rd best in the nomination"The Best Bond Issue Lead ManagerArranger".

Raiffeisenbank is one of the leadersing arrangers ofn the localcorporate bond market. In 2001-2004 the Bank acted as LeadManagerarranger of 17 corporate bond issues and took part inplacement syndicates of 13 syndications of corporate bond issueswith the total nominal value exceeding totaling to RUR 57 bln.

SRO"PROFI", founded in 2003, unitesconsists of theRussian banks and investment companies, who - activelyparticipatents in securitiesbond placements on the Russian stockmarket. The major goals of the organization is on the bond marketare to developement and improve perfection of bond the Russianstock market standards and regulations.