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JSC VTB Bank has successfully placed CHF400 million issue

 
10 August 2010

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

JSC VTB Bank has successfully placed its CHF400 million issue under its LPN Programme. The initial size of the deal was increased by over 30% from CHF300 million to CHF400 million due to strong investor demand. CHF400 million of 4% Notes due 2013 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.

Deputy Chairman and CFO of JSC VTB Bank Herbert Moos said: “International recognition of VTB’s name and credit allows us to issue debt instruments on different markets globally. The issue enjoyed strong investor appetite for VTB as a high quality Russian state controlled borrower despite its ambitious pricing in the current market. VTB has the strong intention to further diversify its international borrowing and expand its investor base for debt securities by issuing in various markets and in different currencies.”

Contacts:
Investor Relations:
Tel.: +7 495 775 71 39
Email: investorrelations@vtb.ru

About VTB:

JSC VTB Bank and its subsidiaries (the VTB Group or the Group) is a leading Russian banking group, offering a wide range of banking services and products across Russia, certain CIS countries and in selected countries of Western Europe, Asia and Africa.

As of March 31, 2010 the Group had a network of 941 branches located across Russia, CIS and Europe, of which VTB24 retail branches totaled 479. Today outside of Russia, the Group operates through five subsidiary banks located in the CIS (Armenia, Ukraine, Belarus, Azerbaijan and Kazakhstan), subsidiary bank in Georgia, five banks located in Europe (Austria, Germany, France, UK and Cyprus), one subsidiary bank and one financial company in Africa (Angola, Namibia), and an associated bank in Vietnam. VTB also has branches in India and China and a presence in Singapore and UAE through the branches of its UK investment banking subsidiary. VTB has operated under a full banking license, №1,000 from the Central Bank of the Russian Federation, since 1990.

The Group’s business franchise spans corporate, retail and investment banking. In corporate banking, the Group provides a broad range of commercial banking services and products including corporate lending, foreign trade transactions, syndicated loans, deposit and settlement services, as well as custody services, leasing and treasury services to large- and medium-sized corporations and financial institutions. In retail banking, VTB offers financial services, including deposit accounts, lending, debit and credit cards and transaction services, to individuals and small-sized corporations. In investment banking it provides debt capital markets underwriting, project financing, merger and acquisition financing, advisory services, asset management and venture funds.

The number of employees of the Group at 31 March 2010 was 40,608. The Government of the Russian Federation is VTB’s main shareholder and owns, through the Federal Property Management Agency, 85.5% of its registered share capital.

Disclaimer:

Admission of the Notes to the SIX Swiss Exchange is not to be taken as an indication of the merits of VTB or the Notes. The SIX Swiss Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement.

This document does not constitute a prospectus according to Art. 652a or Art. 1156 of the Swiss Code of Obligations or Art. 27 et seq. of the SIX Listing Rules. Full information on the Issuer and the Notes is only contained in the relevant Swiss listing prospectus. Potential investors are required to solely rely on the information contained in said Swiss listing prospectus with regard to information on the Issuer and/or the Notes. Copies of such Swiss listing prospectus will be available free of charge in Switzerland at the offices of BNP Paribas (Suisse) SA at Place de Hollande 2, 1204 Geneva, Switzerland during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) so long as the Notes are listed on the SIX Swiss Exchange.

These materials are not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or an exemption from registration under the Securities Act. The issuer has not registered and does not intend to register any part of the offering in the United States or to conduct a public offering of any securities in the United States.

This document is an advertisement for the purposes of applicable measures implementing Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the “Prospectus Directive”). A prospectus prepared pursuant to the Prospectus Directive has been published, which can be obtained from Citibank, N.A. at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB.

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any Notes will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes 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.

Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in the Russian Federation or to or for the benefit of any Russian person, and does not constitute an advertisement or offering to non-qualified investors of any securities in the Russian Federation. The Notes have not been and will not be registered in the Russian Federation or admitted to public placement and/or public circulation in the Russian Federation. The Notes are not intended for “placement” or “circulation” in the Russian Federation unless and to the extent permitted under Russian law.


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