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Moscow, May 30, 2006 — Moody’s Investors Service has changed the outlook on Vozrozhdenie Bank’s (“VBank”) B1 long-term foreign currency deposit rating and E+ Financial Strength Rating (FSR) to positive from stable. At the same time, Moody’s Interfax Rating Agency has upgraded to A1.ru from A2.ru the bank’s longterm national scale credit rating (NSR). Moscow-based Moody’s Interfax is majority-owned by Moody’s, a leading global rating agency.

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