— Investor Relations — Shareholders Equity — ADR's — History of ADR's Issues

History of ADR's Issues

American Securities and Exchange Commission (SEC) registered the Program of issuing level one American Depository Receipts (ADR) of Vozrozhdenie Bank’s shares in July 1996.

That enabled foreign investors to acquire bank’s shares on the USA and European over-the-counter stock market. The amount of issued ADRs of Vozrozhdenie Bank’s shares is 550,000. (1 ordinary share = 1 ADR)

Issues of Level 1 ADRs for Vozrozhdenie Bank’s shares

Date

Number of ADR, items

Share of ADRs in the authorized capital, %

01.04.97

76,620

0.75

01.07.97

306,480

2.75

01.01.98

550,000

4.94*

01.04.00

550,000

3.78*

01.10.03

550,000

2.74*

01.09.06

550,000

2.50*

01.06.07

550 000

2.20*

* new issues of other shares reduced the share of ADR’s in total capital

Trading Floors (Share class: Level 1 American Depositary Receipts)

Name of the stock exchange

Traded since

Berlin Stock Exchange

July 1997

FrankfurtStock Exchange

August 1997

Stuttgart Stock Exchange

November 2000

8 800 777-0-888

Moscow: (495) 777-0-888

vbank@co.voz.ru