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Vneshtorgbank's Treasury ready to implement an innovative integrated banking system

8 February 2005

Vneshtorgbank has completed the development of an integrated banking system (IBS) of trade and risk management in financial markets.

In compliance with the 2005 Strategy for Development of Vneshtorgbank`s Information and Communications Platform, launching a new IBS in the Bank`s Treasury will certainly enhance the efficiency of customer services.

Particularly, the time spent by our customers in queuing will be reduced by more than 30 % again the previous year, the Bank`s Management claims.

The newly launched Kondor+ integrated system is primarily designed to capture, store and analyze trading positions in different asset classes and currencies. The System supports broad and deep coverage of the Bank`s various deals in exchange and interbank markets, trading in state- and corporate-issued securities, shares, notes, precious metals, banknotes and derivatives, as well as its customers` operations.

When fully implemented, the innovative IBS will be a principal part of a large-scale and long-term technological project which embraces all the divisions of Vneshtorgbank`s IT Department. The project is aimed at a complete integration of all systems supporting the Bank`s financial services into a single information and communications network Head of Vneshtorgbank`s Treasury, Yu.Denisov emphasized that "the Bank`s Management has highly appreciated the working potential of the newly developed banking system and hopes to considerably enhance the efficiency of Vneshtorgbank`s presence on major Russian and global financial markets".

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