OREANDA-NEWS. November 30, 2007. The decision to increase capital by a placing additional shares was made at an extraordinary general OJSC Promsvyazbank shareholders' meeting held back June 25, 2007. As a result of the issue, the Bank's capital has increased by RUB 4.1 billion to about RUR 30 billion. The issue will support the ongoing growth of Promsvyazbank’s operations and increase its financial flexibility in providing finance to its clients.

In accordance with placement's conditions, the shares were acquired by Promsvyazbank's shareholders, Promsvyaz Capital B.V., and Commerzbank Auslandsbanken Holding AG (a subsidiary of Commerzbank AG). As a result of the placement, the proportion of each shareholder in the Bank's capital remained unchanged. Currently, Promsvyaz Capital B.V. owns 84.68% of shares while Commerzbank Auslandsbanken Holding AG holds 15.32%.

Promsvyaz Capital B.V. is domiciled in the Netherlands; its ultimate beneficiaries are, in equal parts, Mr. Alexey and Dmitri Ananiev.