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JSC VTB Bank, BayernLB and Gazprombank arranged an extension and increase of a Syndicated Loan for JSC Belgazprombank up to USD 45,000,000.

1 July 2008

JSC VTB Bank is pleased to announce that a Syndicated Loan arranged for JSC Belgazprombank, Minsk (the "Borrower"), was successfully extended and increased up to USD45,000,000.

The loan was extended for further 364 days and will be used for financing trade-related transactions of the Borrower's customers.

The Facility was well received by investors achieving an almost 30 per cent oversubscription in the general syndication. 12 banks from 8 countries have joined the transaction.

For reference:

Belgazprombank was established in November 1990 and is presently ranked 3rd among the country's banks in terms of shareholders` equity and 7th in terms of assets. Major shareholders of Belgazprombank with 96.16  per cent of shareholding are JSC Gazprom and CJSC Gazprombank.
Belgazprombank has the following ratings: long- and short-term ratings of "B" from the Fitch Ratings agency with "Stable" Outlook.

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