Information about decision on securities issue

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

2.1.1. The issuer’s governing body that approved an issue of securities, the method of decision approval and the form of voting (joint presence or voting in absentia) :

Board of Directors of Bank Vozrozhdenie

Form of voting – joint presence

2.1.2. Date and location of the meeting held by the issuer’s governing body, where the additional issue of securities was approved:

August 15, 2007; 7/4 Luchnikov pereulok, bldg. 1, Moscow

2.1.3. Date and number of the minutes of the meeting, where the additional issue of securities was approved:

August 15, 2007; Minutes No2.

2.1.4. 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 participated in the meeting: 11 from 12 members. The quorum was in place. 11 members of the Board of Directors participated in the voting. The decision was made unanimously.

2.2.5. Full text of the decision on the securities issue made.

To approve the decision on the issue of Bank Vozrozhdenie (hereinafter referred to as the Bank) securities - interest-bearing non-convertible secured documentary bonds of series 02 payable to bearer with obligatory centralized keeping without option of early redemption and maturity of 1097 (one thousand ninety seven) days from the initial date of issue in the amount of 5 000 000 (five million) pieces with the nominal value of RUB1000 (one thousand) each and the total nominal value of RUB 5 000 000 000 (five billion), secured with the guarantee of Vozrozhdenie Finance (Non-public joint-stock company), to be placed through open subscription at a price of 100 (one hundred) per cent of the nominal value of bonds (starting from the second day of the bond issue a buyer while purchasing bonds shall pay accrued coupon income) with a payment to be made by bank transfer in the currency of the Russian Federation. The redemption of the bonds shall be made by the bank itself on the maturity date. The Bank shall be entitled to appoint payment agents for making payments on bonds and to cancel these appointments. In case if the maturity date is a non-working day whether it’s a state holiday or non-working day for clearing transactions, the payment shall be made on the first day after the non-working day. The bond owner shall have no right to demand interest accrual or any other compensation for such kind of delay in payment.

The amount of coupon accrued for each coupon period as an annual per cent of the bonds’ nominal value and to be paid at the end of the relevant coupon period shall be considered as the income on bonds. The bonds has six coupons. The duration of the first coupon period is determined as 187 (one hundred eighty seven) days. The duration of each of the coupon periods from the second to the sixth will be equal to 182 (one hundred eighty two) days. The rate of the first coupon shall be fixed at the auction to be carried out at Non-public joint-stock company MICEX Stock Exchange on the first date of bond placement. The coupon rate for coupons from the second to the sixth shall be equal to the first one.

The first bond owners (purchasers) shall bear the costs related to entering records about crediting placed bonds to depo-accounts of such bond owners.

2.6. Providing the shareholders of the issuer and other persons with preemptive rights.

There shall be no preemptive rights for purchasing the securities.

2.7. The issuer shall be obliged 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 and disclose information after each step of the procedure of securities issue according to the legislation of the Russian Federation.