Issue of bonds in the amount of 3 billion rubles

 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:

1.8. Name of periodical edition used by the issuer for publishing information:

1.9. Code (codes) of material fact (facts)

2. Content of the Message

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

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. Maturity

1092 (one thousand ninety two) days from the initial date of issue

2.3. The number of securities issued and nominal value of each issued security (if availability of nominal value is stipulated by the Russian law):
3,000,000 (Three million) pieces of RUR 1000 (one thousand) nominal value each.

2.4. Method of securities issue. In case of closed subscription – the list of potential buyers of securities issued

Open subscription

2.5. Other terms and conditions of securities issue, specified by the decision on securities issue

The price for one bond issued – 1000 (one thousand) rubles.

Starting from the second day of bonds issue a buyer while purchasing bonds will pay accrued coupon income, that is calculated from the initial date of  issue as follows:

NKD = C(1) * Nom * (T-T(0)) / (365*100%), in rubles, where

NKD – accrued coupon income, in rubles

Nom – nominal value of 1 bond in rubles

C(1) – interest rate of first coupon, per cent per annum

T – current date

T(0) – initial date of issue

T-T(0) – number of days from the initial date of issue till the current date.

Accrued coupon income per one bond is calculated with approximation to 1 kopek (approximation is made according to the mathematic rules to the closest whole number).

Payments for bonds are made in Russian rubles by non-cash transfers according to the Rules of the Stock Exchange and rules of clearing.

There are no preemptive rights for bonds issued.

2.6. The issuer’s commitment to disclose information after each step of procedure of securities issue if registration of the prospectus is made at the issuer’s discretion.

Bank Vozrozhdenie shall register the Bond issue prospectus according to the legislation of the Russian Federation.

2.7. The issuer’s governing body that approved an issue of securities: Board of Directors of Bank Vozrozhdenie

2.8. Date and location of the meeting held by the issuer’s governing body, where the additional issue of securities was approved: December 29, 2006, Moscow.

2.9. Quorum and voting results of the meeting of the authorized governing body of the issuer where the decision on the securities issue was made.

Total number of members of the Board of Directors of Bank Vozrozhdenie – 12.

The number of members of the Board of Directors of Bank Vozrozhdenie participated in the meeting – 10.

Voted:

For – Yury M. Marinichev, Dmitry L. Orlov, Sergey A. Vybornov, Lyudmila A. Goncharova, Nikolai Y. Demin, Alexander V. Dolgopolov, Alexander N. Zhizhaev, Nikolai S. Zatsepin, Valentina V. Kabanova, Rustem M. Usmanov.

Against – 0.

Abstain from voting – 0.

2.10. Date and number of the minutes of the meeting, where the issue of securities was approved: January 9, 2007, No6.

3.1. Deputy Chairman of the Management Board of Bank Vozrozhdenie