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The Bank of Russia registered report on Vneshtorgbank's fourth bond issue

26 April 2004

The Bank of Russia registered on 7 April 2004 the report on Vneshtorgbank`s rouble-denominated coupon bearer bond issue of a series 04 in paper format, official registration number is 40301000В of 9 January 2004.

Bonds were issued for 5 billion roubles at par value. Tenor is 1,820 days. Bonds have 10 semi-annual coupons. Vneshtorgbank published an offer envisaging a put option with a 100% issue price from the face value due and payable on 25 March 2005.

Public offering of the fourth bond issue took place on 25 March 2004 on the MICEX. All bond issue was sold at a public auction on the first distribution day, and a demand at par was 5.82 billion roubles.

The first coupon rate determined at the auction was 5.43% p.a., and the rate of the second coupon is equal to the rate of the first coupon, whereas the rate with respect to the remaining coupons is to be determined by the Issuer.

Bond effective yield to annual put option was all-time low for the Russian corporate bond market at 5.50% p.a.

Vneshtorgbank acts as an arranger, an underwriter and a payment agent of the issue, and International Moscow Bank and Citigroup act as lead underwriters.

Underwriters of the issue are Industrial and Construction Bank, Dresdner Bank Russia, ABN-AMRO Bank Russia, Vizavi bank, Deutsche Bank Russia, ING Bank (Eurasia), NOMOS Bank, ZAO Raiffeisen Bank Austria. Custodian of the issue is the National Depository Centre.

Once the bonds are placed on the secondary market, the MICEX market-maker syndicate is going to maintain secondary market liquidity for Vneshtorgbank series 04 bonds by making two-sided quotations having a spread under 0.3% out of par value.

You can have access to bond issue documents and the information memorandum at Vneshtorgbank`s Web site ( and Web sites of underwriters of the issue.

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