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02.10.06

Raiffeisenbank is appointed a lead organizer of USD 400 mln syndicatedloan for OAO «SUEK» .

OAO Siberian Coal and Energy Company has secured a USD 400 million4-year Coal Pre-Export Facility (theFacility) through a syndicate of international lenders led by Banque Societe Generale Vostok (BSGV), SG Corporate& Investment Banking (SG CIB), ZAO Raiffeisenbank Austria (RBRU) and Raiffeisen Zentralbank Osterreich AG (RZB) (together the Mandated Lead Arrangers).

Syndication closed heavily oversubscribed on 18 August 2006 withcommitments aggregating USD 513 million raised from the market and theBorrower elected to sign the Facility for an amount increased to USD 400million on 26 September 2006 compared to the initial fully underwrittenUSD 300 million objective.

The Facility represents the largest ever syndicated transaction for aRussian coal producer and will be used by SUEK to refinance existingdebt on more competitive terms.

SG CIB and RZB acted as Bookrunners for the Facility, while RZB acted asDocumentation and Facility Agent and BSGV and RBRU as Passport Banks.

We are planning to use the biggest syndicated loan in the history of our company for refinancing of existing loan portfolio, - Vladimir Preobrazhensky, the Deputy General Director for economics and finance, Chief Financial director of OAO SUEK, comments.

It is a great honor for us to be once again mandated for arranging a syndicated loan for OAO SUEK. As compared to the debut syndicated loan signed beginning 2005, we managed to attract four times higher amount, increase the tenor up two times, while the pricing significantlydecreased, which is the evindence of not only generally improving financing terms for Russian borrowers, but also of the considerably improved position of the company in the Russian energy market, - Pavel Gourine, Deputy Chairman of the Managing Board, Head of Corporate Finance Directorate of Raiffeisenbank.

In addition to the MLAs, the syndicate of lenders includes BayersicheLandesbank, BNP Paribas (Suisse) SA, The Bank of Tokyo-Mitsubishi UFJLtd, Calyon, Commerzbank, Deka Bank Deutsche Girozentrale LuxembourgS.A., Erste Bank, London Branch, Fortis Project Finance Ltd, HSHNordbank AG, London Branch, Bayerische Hypo-und Vereinsbank AG, ING BankN.V., KBC Bank NV, Moscow Narodny Bank, Sumitumo Mitsui BankingCorporation Europe Limited and WestLB AG as Lead Arrangers, GarantiBankInternational N.V. and Natexis Banques Populaires as Arrangers, BanqueCantonale de Geneve and N M Rothschild& Sons Limited as Lead Managersas well as DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt amMain and Raiffeisenlandesbank NiederOsterreich-Wien AG.

Siberian Coal Energy Company (SUEK) is the major coal group in Russia.The company supplies nearly 30% of steam coal to the domestic market andaround 20% of Russian exports. SUEK has its affiliates and subsidiariesin Krasnoyarsk, Primorsky, and Khabarovsk Territories, Irkutsk, Chitaand Kemerovo regions, Buryatia and Khakassia. In 2005 the total outputof SUEK enterprises was 84.4mt, with consumer sales of 80.2mt. SUEKexport totaled 18.7mt. The company employs over 44,000 workers. SUEK isthe largest private shareholder of several Siberian and Far-Easternpower generation companies.

Raiffeisenbank is ranked 8th in terms of assets among top Russian banksbased on Q2 2006 results (CEA Interfax). At present the Bank disposes of19 branches in Moscow, 5 branches in Saint Petersburg and regionalbranches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, NizhnyNovgorod and Krasnodar.

ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG which is the steering company for subsidiary banks and leasing units in 16 markets of Central and Eastern Europe (CEE). More than 11 million customers are served via over 2,700 business outlets. Raiffeisen International is a fully consolidated subsidiary of RaiffeisenZentralbank Austria AG (RZB), which owns 70 per cent of the common stock. The remaining 30 per cent is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country''s largest banking group.

 

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