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VTB Annual General Shareholders Meeting

26 June 2008

On 26 June 2008, at the "Lenexpo" Exhibition Complex, St. Petersburg, the VTB Bank Annual General Shareholders Meeting was held under the chairmanship of Alexei Ulyukaev, Member of the VTB Supervisory Council. Approximately 900 shareholders discussed and voted on 11 issues put on the agenda, in particular:

  1. Approval of the JSC VTB Bank Annual Report.
  2. Approval of the JSC VTB Bank Annual Financial Statements, including the Profit and Loss Statement (JSC VTB Bank Profit and Loss Account).
  3. JSC VTB Bank profit (loss) allocation as a result of the 2007 performance, including announcement of VTB Bank dividends (their amount, time brackets and form of payment).
  4. Number of VTB Bank Supervisory Council members.
  5. Election of the VTB Bank Supervisory Council.
  6. Number of VTB Bank Statutory Audit Commission members.
  7. Election of the VTB Bank Statutory Audit Commission.
  8. Approval of the candidacy of VTB Bank's auditor.
  9. Approval of interested party deals to be entered into by JSC VTB Bank in the course of its ordinary business activities.
  10. Approval of a new edition of the VTB Bank Charter.
  11. Remuneration of independent members of the VTB Bank Supervisory Council.

Andrey Kostin, VTB President - Chairman of the Management Board, Members of the Board Nikolai Tsekhomsky and Andrey Puchkov, and Olga Avdeeva, VTB Chief Accountant addressed the shareholders.

Andrey Kostin said: "Today's meeting is a landmark event for VTB Group, since it's the first time our private shareholders have attended it. We are grateful to them for their active participation in the work of this collective governance body of VTB Bank. The support from shareholders is very important for us, and therefore we are sure to meet their expectations by implementing VTB's most ambitious plans and consistently pursuing our Development Strategy for 2010 with its major objectives remaining unchanged. As a result, VTB Group will maintain leadership positions not only in Russia, but also in the global financial markets".

Voting results on the agenda of the VTB Bank Annual General Shareholders Meeting are expected to be published soon.

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