The Board of Directors of Bank Vozrozhdenie held its regular meeting

30 September 2011

On the Meeting the Board of Directors considered draft agreement on audit services and approved the amount of remunerations to be paid to ZAO “PricewaterhouseCoopers Audit” for 2011 audit.

For the purpose of improvement of the risk management system the Board of Directors studied results on conducted stress-test in the Bank.

All abovementioned issues were preliminary considered during the meeting of the Audit Committee.

Report on implementation of measures aimed at improvement of corporate governance in the Bank was considered by the Board of Directors during the meeting as well.

The Board of Directors approved a number of Bank’s internal regulations including new editions of Regulation on Dividend policy of Bank Vozrozhdenie and Rules of internal control in Bank Vozrozhdenie.

Standard and Poor’s Rating Services upgraded ratings of Bank Vozrozhdenie
Bank Vozrozhdenie was ranked second by volume of lending to SME’s