Dividend History

Payment year	For the year	Dividends on ordinary shares	Aggregate dividends paid	Dividends paid % net profit
		RUR	RUR bln
2003	2002	37,98	1,6	17,4
2004	2003	37,98	1,6	17,9
2005	2004	40,5	1,7	17,9
2006	2005	32,75	1,7	13,2
2007	2006	0,00066*	3,4	20
2008	2007	0,00134*	9,01	50,12
2009	2008	0.000447*	3,0	11,17

*In 2006, the number of VTB Bank ordinary registered book-entry shares and dividend parameters per share were changed. In September 2006, the Bank issued 5,211,112,400,000 ordinary shares of nominal value RUR 0.01 each. The shares were placed by splitting the Bank`s existing ordinary registered book-entry shares of RUR 1,000 nominal value each, with each such share being converted into 100,000 shares of nominal value of RUR 0,01. The issue resulted in the number of shares held by shareholders being increased 100,000 times. In its turn, the increased number of shares changed the dividend payable under each of VTB Bank shares.