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Comment on Lenenergo' Stake

 
23 August 2007

In light of information message released in mass media about a purchase by JSC VTB Bank ("VTB") of  the stake in Lenenergo, VTB informs about the following:

VTB  acted as a participant in this deal on the purchase of the stake in Lenenergo from  Fortum Power and Heat OY.

VTB facilitated the purchase of the stake in Lenenergo by one of the Clients.   According to the forward sale contract, the Client has to buy it back from VTB in 3 years time.

The purchase is not a strategic investment of VTB.


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