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Supported by Vneshtorgbank, major international investment companies visit Moscow

28 June 2005

On June 27-28, 2005, at the invitation of Vneshtorgbank and Deutsche Bank AG heads of twelve leading international investment companies visited Moscow, among them - Autonomy Capital, Barclays Global Investors, Brevan Howard Asset Management, Citadel, Deka Investment, DWS Investments, Finisterre Capital, Fortress Investment Group, HBK Investments, ING Investment Management, Merrill Lynch Investment Managers, Thames River Capital.

These companies are among the largest global financial institutions and are presently most actively investing in Russian securities issues. The volume of assets under the management of these funds is ranging between US$300 billion and more than US$1 trillion.

A major objective of the delegation is to make an in-depth survey of the Russian market and to assess possibilities of enlarging investment into the Russian economy. The visit is crucial importance - it testifies to a qualitative increase in the interest of international investors to Russia and proves that there are vast possibilities for conservative capitals to be channeled in our country.

The delegation accompanied by Andrey Kostin, President & CEO and other top managers of Vneshtorgbank, was received at the high governmental level. In particular, leaders of international companies met with Mikhail Fradkov, Chairman of the Russian government, Aleksey Kudrin, Finance Minister, Igor Shuvalov, Assistant of President Putin, Sergey Ignatyev, Chairman of the Bank of Russia, and Oleg Vyugin, Head of the Federal Financial Markets Service.

The visit is designed to further encourage cooperation in investment sphere, to enhance possibilities for Russian companies and financial institutions to raise foreign borrowings, and to reduce resource costs.

Vneshtorgbank's involvement in arranging this visit is another step in positioning VTB on global financial markets and strengthening its leadership in raising foreign long-term investment. By the year 2004 results, Vneshtorgbank was recognized as an undisputable leader among Russian financial institutions in this sphere accounting for about 20% of the total foreign borrowings by the national banking system.

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