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JSC VTB Bank placed its first Eurobond issue in CHF

 
31 July 2009

NOT FOR DISTRIBUTION OR PUBLICATION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

JSC VTB Bank has successfully placed its first Eurobond issue of CHF 750 million under its Programme No. 2 for the Issuance of Loan Participation Notes ("Eurobonds").
The size of the deal was initially increased from CHF 150 million to CHF 450 million and further increased to CHF750 million due to significant investors’ demand.
CHF750 million of 7.5% Notes due 2011 will be issued at par value by VTB Capital S.A., Luxembourg. The Notes will be listed on the Swiss Stock Exchange.
BNP Paribas and VTB Capital plc are the Joint Lead Managers of the issue.
Nikolai Tsekhomsky, the Member of the Board of JSC VTB Bank, said: "This deal is the largest placement in Swiss francs by a Russian issuer. The access to the Swiss market allows the VTB Group to diversify its investor base and to broaden the sources of funding".

For reference:
VTB Group is a leading Russian financial group with a strong tradition in Russia and the CIS, and a presence in more than 20 countries around the world. The Russian government is VTB's majority shareholder, with a holding of 77.5%. The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB's global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking across Russia, certain other CIS countries and a number of countries in Western Europe, Asia and Africa.  As of  December 31 2008, VTB was the second largest financial group in Russia by assets (US$ 126 bn) and by deposits (US$ 37,5 bn).  VTB is one of the top three retail banks in Russia with a network of 1020 sales offices in Russia and the CIS. In 2008, VTB launched its investment banking business which operates from Moscow, London, Singapore and Dubai.

Disclaimer:
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of VTB. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. VTB does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in VTB’s projections or forward-looking statements, including, among others, general economic and market conditions, VTB’s competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to VTB and its operations.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of VTB or any of its subsidiaries, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of VTB or any of its subsidiaries.
The securities referred to in this announcement have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States subject to certain exceptions.
This communication is only being distributed to and directed only at (a) persons who are outside the United Kingdom or (b) investment professionals falling within Article 19(5) of the Financial  Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order")  or (c) high net worth entities, and other persons to whom it may lawfully be  communicated, falling within Article 49(2) of the Order (all such persons  mentioned in (a), (b) and (c) together being referred to as "Relevant  Persons"). The securities mentioned in this communication will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.
This document is an advertisement for purposes of applicable measures implementing Directive 2003/71/EC.
This announcement does not constitute a prospectus as defined in Articles 652(a), 752 and 1156 of the Swiss Code of Obligations or the listing rules of the SIX Swiss Exchange.
Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in Russia or to or for the benefit of any Russian person or any person in Russia, and does not constitute an advertisement of any securities in Russia.


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