OREANDA-NEWS. July 6, 2007. RosEvroBank, Moscow, signed agreements with DEG () who purchased 6% of shares and with Direct Investments Foundation "RenFin Limited" (www.rencap.com), who also purchased 6% of shares. Direct Investments Foundation "RenFin Limited" is managed by "Renaissance Investment Management" group of companies. Total volume of investments exceeded USD 50 million. Funds will be used by RosEvroBank to further develop its regional network and loan portfolio. Representatives of DEG and RenFin will be members of the Board of Directors of RosEvroBank.

According to Mr.Jan Luter, Deputy Chairman of the Managing Board of RosEvroBank, decision to sale of shares to portfolio investors was adopted by shareholders of the Bank in order to maintain adequate level of equity and retain high dynamics of the Bank's assets growth.

RosEvroBank successfully operates in Russia since 1994. The Bank is universal financial institution which renders all major banking and financial services including services to corporate and private customers, trade finance, brokerage. Main shareholders of RosEvroBank are Sergey Grishin, Andrey Souzdaltsev and Ilya Brodskiy. Currently RosEvroBank is among Top 50 Russian banks in terms of asset size and equity and Top 30 most reliable Russian banks (source: Russian business media). During its activity RosEvroBank proved its reputation as one of the most dynamically growing universal financial institutions. In 2004 "The Banker" magazine recognised RosEvroBank's leadership among fastest growing Russian banks.

RosEvroBank was established in 1994. As of 1 June 2007 Bank's assets amounted RUB 42.5 bn, equity - 3.6 bn. RosEvroBank's reliability is confirmed by the largest international rating agency Moody's Investors Service (B1/NP long-and short term deposits in foreign currency and E+ financial strength).

DEG is member of KfW Banking Group, one of the largest European development banks. DEG provides financing and structures investments inro privately-owned companies in the emerging markets for more than 40 years.

Total volume of investments of DEG into 1300 companies exceeds EUR 7.7 bn.

DEG is aimed to create and increase number of privately-owned enterprises in the emerging markets thus providing stable economic growth of these countries.

RenFin Foundation is investing into the financial sector of Russia and CIS countries. RenFin is targeted at growing banks and companies (including regional banks and companies) with good market reputation, professional management and exact strategy of development.

An updated ownership structure will be sent to you together with audited IFRS financials of Rosevrobank as ofv 30 June 2007.