Determination of coupon rate

1. General Data

1.1. Full corporate name of the issuer

1.2. Abbreviated corporate name of the issuer:

1.3. Location of the issuer:

1.4. State Registration number of the Issuer:

1.5. Identification tax number of the issuer:

1.6. Unique code of the issuer, assigned by the registration body:

1.7. Internet site used by the Issuer for publishing messages:

2. Content of the Message

2.1. Category (type), series and other identification characteristics of securities.

Interest-bearing non-convertible secured documentary bonds of series 1 payable to bearer issued through open subscription with obligatory centralized keeping and without option of early redemption.

2.2. State registration number of the securities’ issue (additional issue) and the date of state registration.

40101439Â dated February 8, 2007

2.3. Name of the registration authority that registered the securities issue.

Bank of Russia.

2.4. Essence of the issuer’s obligation: to make a decision about the interest rate of first coupon on bonds.

The governing body of the issuer that made a decision determining interest (coupon) rate on issuer’s bonds: the rate of interest (coupon) on bonds was determined according to the Decision on issue and Prospectus of securities (state registration number 40101439B of February 08, 2007) approved by the Board of Directors of Bank Vozrozhdenie on December 29, 2006 (Minutes 6 of December 29, 2006). Rate of first coupon at 8.95% (eight and ninety five hundreds per cent) per annum was approved by the Management Board of Bank Vozrozhdenie (Minutes No9 of March 7, 2007).

The date when issuer’s obligation should be fulfilled: 07.03.2007.

Information about fulfillment of the issuer’s obligation: the obligation was fulfilled.

2.5. Date of the decision on determination the rate of interest (coupon) on bonds of the issuer: 07.03.2007.

2.6. Date of the Minutes of the issuer’s governing body meeting where the decision determining the rate of interest (coupon) on bonds were made: 07.03.2007.

2.7. Total amount of interest or other income to be paid on issuer’s bonds: 133 890 000.00(one hundred thirty three million eight hundred ninety thousand) Russian Rubles.

The amount of interest or other income to be paid on one issuer’s bond: 44.63(forty four) Russian Rubles 63 kopeks.

2.8. Method of payment of income on issuer’s securities: by funds transfer in the currency of the Russian Federation.

2.9. Date when the obligation to pay income on the issuer’s securities should be fulfilled – final date of the period: 05.09.2007.

2.10. Total amount of interest or other income on issuer’s bonds already paid:
0 (zero) Russian Rubles.