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Aeroflot, VTB and VEB enter into a sale arrangement on Terminal shares and loan agreements on Sheremetevo-3 project

17 June 2006

17 June 2006, Moscow – Today Aeroflot, Vneshtorgbank (VTB) and Vnesheconombank (VEB) have entered into sale agreements with respect to Terminal shares, subject to which VTB and VEB bought a 25% stake plus 1 share and a 20% stake less 2 shares, accordingly, from Aeroflot.

In addition, under the loan agreement signed today, VTB and VEB are to extend a 13-year credit line to Terminal company totalling USD 475 million to finance the Sheremetevo-3 air terminal construction. VTB and VEB are to make USD 264 million and USD 211 million, accordingly.

The Sheremetevo-3 project was launched in July 2005 to be completed by the end of 2007.


Terminal company was established in 2003 as a fully-owned Aeroflot’s subsidiary to implement the Sheremetevo-3 air terminal construction project. To get more information on Terminal company, please visit  

Aeroflot – Russian Airlines, based in Moscow, Russia, at Sheremetyevo airport, was established in 1923. It is now the largest international and domestic air carrier and controls about 11 percent of domestic and 39 percent of international air carriages’ market in Russia. Aeroflot is a member of Sky Team global air alliance. Sky Team was announced 2005 Best Airline Alliance by Global Traveler magazine, based on the results of an annual readers survey. In 2005, the company carried 6.8 million passengers travelling to 89 cities and towns from 47 countries. Aeroflot makes 302 flights a day, having an 88 aircraft fleet. To get more information on Aeroflot, please visit and

Vneshtorgbank (VTB) is a leading Russian commercial bank in terms of authorised capital amounting to Rbl 42.1 billion. The Russian Government with a 99.9% stake is its major shareholder. Vneshtorgbank’s equity is Rbl 115 billion and total net assets are Rbl 667 billion as of 31 March 2006. Vneshtorgbank is among leading lenders to the Russian economy, and loans made to the non-financial sector were Rbl 312 billion as of 31 March 2006. Vneshtorgbank has the highest rating among Russian banks assigned by Moody`s Investors Service, Standard & Poor`s and Fitch international rating agencies. Russian rating agencies traditionally attribute Vneshtorgbank to the highest financial strength class. To get more information on Vneshtorgbank, please visit

Vnesheconombank (VEB), a specialised state-run financial institution, was established in 1924. VEB priorities are support for domestic industrial export, large-scale projects, including those related to infrastructure, in Russian key industries, investment raising to Russian provinces, duties as a Russian Government agent. Ratings given by international leading rating agencies to VEB fit those assigned by Russian rating agencies (Fitch and Standard & Poor’s – «BBB», Moody’s – «Baa2»). To get more information on Vnesheconombank, please visit  

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