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31.08.05

RZB is Mandated Lead Arranger in USD 600 Million Syndicated Loan forRussian Railways.

Barclays Capital, Dresdner Kleinwort Wasserstein, HSBC and RZB MandatedLead Arrangers. Two tranches with a 3-year and a 5-year tenor of USD 300million each.

British banks Barclays Capital and HSBC, as well as Dresdner KleinwortWasserstein and Raiffeisen Zentralbank Oesterreich AG (RZB) have beenawarded the mandate to arrange a USD 600 million Syndicated Term LoanFacility for Joint Stock Company Russian Railways.

The facility consists of a 3-year tranche with a bullet repayment and a5-year tranche with an amortising repayment each amounting to USD 300million. The facility will be used for general corporate purposes andrepresents the debut transaction of Russian Railways in the Europeancapital markets.

„This mandate is another proof of our outstanding position in the market for loan syndications and Russian corporate banking, where our Russian subsidiary, Raiffeisenbank Austria, and RZB complement each other very well”, said Patrick Butler, RZB Board Member responsible forFinancial Institutions& Sovereigns and Treasury/Investment Banking.“Based on the number of syndications, where we have been Mandated Lead Arranger in CEE, we are again after 2003 and 2004 the leading bank in the world”, Butler added.

Russian Railways is 100 per cent state-owned. With revenues of USD 23billion and operating profit of USD 2.4 billion, it is the world’s largest railway company. It is the only Russian company with two international investment level ratings. Fitch has recently rated the company BBB, and Moody`s issued a Baa3 rating in 2004.

A high-resolution picture of Patrick Butler can be downloaded fromhttp://www.rzbfiles.at/patrickbutler.jpg

Raiffeisen Zentralbank Oesterreich AG (RZB) is the central institutionof the Austrian Raiffeisen Banking Group, the country''s most powerfulbanking group. It is a leading corporate and investment bank and alsoconsiders Central and Eastern Europe (CEE) as its home market. Vialisted subsidiary Raiffeisen International Bank Holding AG (RaiffeisenInternational), it operates the leading banking network in CEE with 15subsidiary banks and numerous finance leasing companies in 16 markets.5.7 million customers are served via almost 1,000 business outlets.

For further information please contact Andreas Ecker-Nakamura(+43.1-71707-1753,andreas.ecker@rzb.at)or Lars D. Hofer (+43.1- 71707-1930,lars.hofer@rzb.at).

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