The Audit Committee of the Board of Directors of Bank Vozrozhdenie held a regular meeting

29 January 2008

A regular meeting of the Audit Committee of the Bank’s Board of Directors took place on January 25, 2008. Alexander N. Zhizhaev, Nikolai S. Zatsepin, Valentina M. Kabanova participated in the meeting.

At the meeting the report on Bank’s Internal Control and Audit Service activity for 2007 and the quarterly report of the controller of the Bank for the fourth quarter of 2007 were considered, as well as materials of supervision control conducted by the divisions of the Bank of Russia during the fourth quarter of 2007 were analyzed.

As a result of the meeting the Committee recommended to the Board of Directors of Bank Vozrozhdenie to take into consideration the report on Bank’s Internal Control and Audit Service activity for 2007 and the quarterly report of the controller for the fourth quarter of 2007, to recognize the activity of the controller in the fourth quarter of 2007 as satisfactory. The Committee also recommended to the Board of Directors of Bank Vozrozhdenie to take into consideration information contained in the reports of supervision of Bank Vozrozhdenie received by the Board of Directors in the fourth quarter of 2007.

The Board of Directors of Bank Vozrozhdenie held a regular meeting
The Board of Directors of Bank Vozrozhdenie held a regular meeting