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

22 September 2008

The meeting of the Audit Committee of Bank Vozrozhdenie Board of Directors held in the form of absentee voting took place on September 18, 2008.

The Audit Committee discussed IFRS results of Bank Vozrozhdenie for 6M 2008 as well as analyzed the Report on Bank’s activity revisions held by the Central Bank in Q2 2008. The results of the above mentioned analyses were delivered to the Board of Directors for consideration.

The Audit Committee also considered the Draft Agreement on PriceWaterhouseCoopers annual audit services.

Vozrozhdenie Bank First Half 2008 IFRS Profit 1 559 million rubles, more than double 2007
The HR and Compensation Committee of Bank Vozrozhdenie Board of Directors held a regular meeting