Raiffeisenbank keeps on opening Mortgage-Dedicated Branches inMoscow.

Raiffeisenbank keeps on openingMortgage-dedicated Branches in Moscow."Soukharevskoye"Branch was opened on April 6th, 2004 at Prospect Mira, 3. TheBranch is equipped with cash vaults with numerous deposit safeboxesand space facilities for conducting mortage deals. All branches ofthe kind will offer the whole range of services and products forboth corporate and private clients.



Raiffeisenbank launched its Mortgage Lendingprogramme in 2000. In May 2002 Raiffeisenbank was the first bank toannounce the breakthough"floating" rate (LIBOR+8%) inmortgage lending, which was the lowest and best on the market atthat moment. In May 2003 Raiffeisenbank received a USD 80 mln10-year facility from IFC (International Finance Corporation) formortgage lending programme development.



For a more extensive and active (aggressive)presence on the mortgage market, alongside with newly openedmortgage branches Raiffeisenbank on a regular basis betters andimprove terms and procedures of the present Mortgage Lendingprogramme.

Thus, at present Raiffeisenbank offers the lowestrate for Cottage Loans- less than 10 per cent.

Based on 2003 results Raiffeisenbank ranks 4thamong major Russian banks in terms of consumer lending(Expertmagazine) and 7th among largest Russian banks interms of private deposits (Expertmagazine).