The Board of Directors of Bank Vozrozhdenie held a regular meeting

15 February 2008

The Board of Directors of Bank Vozrozhdenie held a regular meeting on February 14, 2008.

The Board of Directors determined the initial date of bond placement. The initial date for placement of bonds of series 02 shall be February 21, 2008.

The Board of Directors took into consideration the information contained in the quarterly report for the fourth quarter of 2007 on implementation of internal control regulations and anti—money laundering programs.

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