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Agreement on co-operation signed between Vneshtorgbank and Aviasalon Plc.

27 July 2004

Vneshtorgbank and Aviasalon Plc. made a statement today on signing a co-operation agreement.

The Agreement sets forth main lines of co-operation between Vneshtorgbank and Aviasalon Plc. Under the Agreement, VTB will render banking services to Aviasalon Plc., including, lending, cash and settlement services, financing of investment projects and programmes, and to render securities-related services, consulting and information services with respect to joint projects to be implemented by the Parties.

Igor Zavialov, Executive Vice President and Deputy Chairman of the Management Board, for Vneshtorgbank, and Igor Novikov, General Director, for Aviasalon Plc., signed the Agreement.

In furtherance of bilateral co-operation, Vneshtorgbank as an official sponsor is going to take part in the International air show to be held in Zhukovski from 13 to 15 August 2004 within the framework of festivities in honour of Chkalov`s 100th Birthday Anniversary. Many visitors of the air show will be able to make acquaintance with full range of services offered by Vneshtorgbank to corporate and individual customers.

For reference:

Aviasalon Plc is the organiser of MAKS International aviation & space exhibition, which deservedly commands a leadership position in ratings of major global events and is held under the auspices of the Prime Minister of the Russian Federation. The Russian president by tradition declares the air exhibition open.

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