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Vneshtorgbank continues to develop cooperation with financial institutions of Japan

21 November 2005

On November 21, 2005, within the framework of an official visit of Russian President Vladimir Putin to Japan, Vneshtorgbank signed a number of agreements with the leading financial institutions of Japan.

In particular, the Loan Agreement signed with Japan Bank of International Cooperation in 2002 was extended to open a JPY 8 billion (about USD 70 million) credit line for Vneshtorgbank to finance import of equipment and durables from Japan to Russia. The extension provides not only for a longer credit line term within the agreement, but also for a wider coverage of countries to import Japanese goods to, now including Ukraine and Belarus alongside Russia.

Agreement were signed by Andrey Kostin, Chairman and CEO of Vneshtorgbank, and Yoshihiko Morita, Deputy Governor of Japan Bank of International Cooperation.
Presently, a number of deals with Vneshtorgbank`s customers have already been financed to purchase timber processing equipment, equipment for fiber-optic communications and specialized car equipment. The total volume of the deals amounts to JPY 1.2 billion, which is more than USD 10 million.

During the visit, Vneshtorgbank also signed a Cooperation Agreement with the Bank of Tokyo-Mitsubishi. The Agreement is designed to further develop bilateral inter-bank relationship, including cooperation in lending to the banks` customers participating in foreign trade with the view of enhancing trade turnover and investment cooperation between Russia and Japan.

On behalf of Vneshtorgbank the Agreement was signed by Andrey Kostin, Chairman and CEO, on behalf of the Bank of Tokyo-Mitsubishi - by Shigemitsu Miki, Chairman of the Board.

For reference:

Japan Bank for International Cooperation (JBIC) is a specialized state-owned bank, with its 100% stock belonging to the Government of Japan.

In terms of assets amounting to USD 200 billion, JBIC is presently ranked 9th in Japan and 72nd in the world (as to the Bankers` Almanac).

The Bank has AA-/A-1+ long-/short-term ratings awarded by S&P international rating agency.

The Bank of Tokyo-Mitsubishi (BTM) is presently ranked 2nd in Japan and 13th in the world in terms of assets approximating USD 815 billion (as to the Bankers` Almanac).

In October, 2005, Mitsubishi Tokyo Financial Group merged with UFJ Holdings. Another merger - of BTM and UFJ Bank to form the Bank of Tokyo-Mitsubishi UFJ - is scheduled for January 2006. Under preliminary estimates, once completed the deal will result in the largest in the world financial company - Mitsubishi UFJ Financial Group - with assets exceeding USD 1.7 trillion.

The Bank has the following long-/short-term ratings: Fitch: A-/F1, S&P: A-/A-1.

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