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VTB is to establish its Shareholders' Consultative Counsel

30 April 2009

VTB announces that it has started to collect applications for participation in the Consultative Counsel of the Bank's Shareholders. This is an independent consultative body established in light of numerous requests from shareholders and designed to bridge an efficient dialog between VTB and its minority shareholders.

Among the top priority functions of the Counsel are the following:

* Reviewing all proposals made by VTB Shareholders and submitting them to the Bank Management;
* Drafting recommendations as to the information to be disclosed to the Bank's Shareholders; and
* Monitoring the Dividend Policy.

An opportunity to become a member of the Consultative Counsel is offered to private shareholders of VTB, older than 21. The candidates should be shareholders of VTB Bank as of 30 April 2009 and retain the status at the moment of being elected a member of the Counsel. The Counsel will consist of 10 members acting on a voluntary basis.

To participate in the election, a shareholder should submit an application for participation in the Consultative Counsel, and a number of documents (a full list is available at the Bank's website). Applications are accepted from 1 May to 5 June 2009. Then an independent jury will sel ect 30 candidates and from 19 June to 8 July 2009, the shareholders will be able to vote for their candidate out of those selected by the Jury. And on 30 July, the Counsel will hold its first meeting.

Citing Andrey Kostin, VTB Bank President and Chairman of the Management Board: "The Counsel should become most instrumental in enabling the shareholders to directly participate in the Bank's development. I am sure that interaction between VTB Management and our private shareholders will be open and effective: despite the current economic turmoil we will jointly achieve positive results."

Detailed information about VTB Shareholders' Consultative Counsel is available at the Bank's website:

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