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On the situation with respect to Guta-bank

14 July 2004

Vneshtorgbank keeps a close watch on how things are going in the banking sector, including, the situation with respect to Guta-bank. At present, Vneshtorgbank`s management has not decided yet to purchase Guta-bank. Before the end of the week, Mr. Andrey Kostin, C.E.O. of Vneshtorgbank, will held negotiations with the Government of the Russian Federation and the Bank of Russia on this issue.  Vneshtorgbank expects responsible and considered decisions to be made by the Bank of Russia to settle the situation existent in the Russian banking sector.

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