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15.03.05

Raiffeisenbank will act as Lead Manager for AHML bond issue.

Agency for Housing Mortgage Lending supervisory board on March 9, 2005approved the decision to issue and prospectus of the agency’s new bond issue series A4. Raiffeisenbank Austria, ZAO together with Gazprombank was appointed the issue Joint Lead Manager.

The redemption of RUR 900 million bond issue series A4 due in 2012 isguaranteed by Russian Federation. The issue is planned for launch inApril - May 2005.

It is the first time Raiffeisenbank acts as Lead Manager for AHML thathas already placed three issues in the Russian bond market.

Michel Perhirin, Chairman of the Managing Board of Raiffeisenbank saidcommenting on the cooperation of the bank with the agency:“The launch of the new AHML bond issue will give additional impulse to capital market mortgage lending refinancing in Russia including issue in future of mortgage bonds which we believe is extremely promising.”

The placement proceeds will be used by AHML to refinance the mortgageloans issued under agency’s standards in the Russian regions. Vnesheconombank will act as the bond issue paying agent, investment company Gorizont is the issue financial consultant.

The Agency for Housing Mortgage Lending is a state-owned special purposecompany whose mission is development and support to the mortgage lendingin Russian Federation. The agency refinances mortgage loans issued undercommon standards throughout Russia. Currently the network of theagency’s regional operators covers 69 regions of the country. RUR 4 687,6 mln worth of mortgage loans were refinanced by AHML in 2004.

Raiffeisenbank is one of the leading arrangers on the local debt capitalmarket: in 2001-2004 the Bank acted as Lead-Manager/Co-arranger in 37corporate bond issues totalling to RUR 77 bln.

Raiffeisenbank Austria, ZAO is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International). Raiffeisen International isa fully consolidated subsidiary of RZB and a member of the RZB Group,minority interest is held by International Finance Corporation (IFC) andthe European Bank for Reconstruction and Development (EBRD). RaiffeisenInternational is the holding company for Raiffeisen Group most importantsubsidiaries in Central and Eastern Europe (CEE). RZB-Austria is thecentral institution of the Austrian Raiffeisen Banking Group, thecountry''s most powerful banking group.

Raiffeisenbank Austria, ZAO is one of the largest Russian banks (isranked 11th in terms of net assets, based on 2004 year-end results, CEAInterfax). Moody''s Interfax Rating Agency has assigned the long-termnational scale credit rating to Raiffeisenbank Austria, ZAO at Aaa (rus)and the short-term rating at RUS-1. Moody''s Investors Service alsoassigned the following ratings to the Bank: D Financial Strength Rating(FSR), Ba1 long-term and NP short-term foreign currency deposit ratings.

 

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