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Vneshtorgbank launched Small Business Lending Programme

7 July 2004

Vneshtorgbank launched the Small Business Lending Programme starting from 1 July 2004.

According to Serguei Souchkov, Vneshtorgbank`s Senior Vice President,

Vneshtorgbank`s plans envisage winning leadership positions of a retail bank, in particular, by attracting added customers from the small business sector>.

The Small Business Lending Programme is being implemented at four sub-offices of the Bank located in Moscow, and at 11 branches located in Belgorod, Voronezh, Yaroslavl, Saint Petersbourg, Rostov-on-the-Don, Nizhni Novgorod, Samara, Ekaterinbourg, Tomsk, Krasnoyarsk and Khabarovsk.

Vneshtorgbank offers loansounting up to US$1 million to be granted in roubles, US dollars, and euros for up to 3 years.

The customer can take a loan for up to US$30,000 () under simplified procedure. In this case, the application is considered and decision is made at least within 3 business days. Usually, the loan is granted for replenishment of working assets. Maximum loan maturity is 24 months. With respect to such class of loans, fixed interest rate is envisaged to remain valid during the life of the loan.

With respect to loans from US$30,000 to US$1,000,000 (), a more detailed decision-making procedure is envisaged - up to 10 business days. Loans are made to finance both fixed and working assets. Maximum loan maturity is 36 months. Loans intended for business expansion shall be granted both at fixed and floating interest rate.

Under this loan, the principalount and interest thereof are to be repaid basically on the annuity basis, where payments are being made by monthly instalments, which is very convenient for the customer. When needed, individual schedule of payments can be applied, which would enable to take into account customer`s specific features in conducting business (for example, seasonal cycles) and as a corollary, to opt for a most convenient repayment method.

Under Vneshtorgbank`s Small Business Lending Programme a lending grace period is granted, subject to which the customer can abstain from repayment of the principalount and/or interest thereon. Furthermore, Vneshtorgbank can grant early repayment of the loan, which enable buoyantly growing customers to repay its debenture as early as possible.

"Vneshtorgbank`s Small Business Lending Programme will enable small businesses to go through a full development cycle to grow into a solid entity with diversified business, and as to the Bank, to attract a great number of promising and profitable customers, which serve a guarantee for strength and solvency of the financial institution, pointed out Serguei Souchkov.

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