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07.04.04

Evgeny Yakushev Appointed General Director of NPF «Raiffeisen»

March 25th , 2004 Evgeny Yakushev was appointedGeneral Director of Non-State Pension Fund"Raiffeisen"by its Board of Supervisors.



Evgeny Yakushev posseses extensive experience of 12years in the field: including postings with"Pension andActuarial Consulting" Company,"Globexbank". Hislatest position was Chairman of the Board at Non-State Pension Fund"Globex".



Evgeny Yakushev took an active part in thedevelopment of Russian legislative system in terms of pensionreform in particular in non-state pension funds and state pensioninsurance programs.



Non-State Pension Fund"Raiffeisen"(former NPF"Dobroe Delo") was registered in 1994 and isone of the few Russian NPFs actively working with private clients.The Fund operates under license#67 grantedon March 15, 1996 by Ministry of Labour and Social Development ofRF. In March 2004 ZAO"Raiffeisenbank Austria" became thesole shareholder of the fund, recently re-named Non-State PensionFund"Raiffeisen".

As of January 2004 the Fund operated more than14,500 contracts with individual and 67 contracts with corporateclients for non-state pension insurance.



Michel Perhirin, Chairman of the Board ofRaiffeisenbank was quoted as saying that he is"sure thatEvgeny Yakushev can''t but greatly contribute to the Funddevelopment with the strong experience and knowledge he alreadyhas. Under Mr. Yakushev''s supervision the Fund''s nextimmediate targets will be active support of pension reform in theRussian Federation, further development of voluntary pensionprovision and participation in mandatory pensioninsurance"





 

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